Homebuyer Assistance Programs

Down Payment/Closing Cost Assistance

Down Payment & Closing Cost Assistance

Loan Application


To provide financial assistance for lower income families purchasing a newly-constructed or existing home within the City of Waco for use as their primary residence.


  • Up to $25,000 no-interest loan to help cover down payment and closing costs.

Eligibility Criteria:

  • Homebuyers must meet income criteria (80% or below the median income for the City of Waco)
  • Borrower must be able to qualify for a first-lien mortgage
  • Maximum mortgage term not to exceed 30 years
  • Borrower must invest at least $750 in the home purchase
  • Property must be owner-occupied (not for investment purposes)

More terms may apply to this program.  For more information, please contact us at 750-5656.

City of Waco, 80 percent of the Median, Income Criteria as of 6.15.22
Family of 1 $39,150
Family of 2 $44,750
Family of 3 $50,350
Family of 4 $55,900
Family of 5 $60,400
Family of 6 $64,850
Family of 7 $69,350
Family of 8 $73,800

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Individual Development Account (IDA) Program

The IDA program allows lower income families to save money for the down payment on a home. An IDA is a matched savings account in which participants deposit money. For every dollar of earned income that families save, two dollars is added to their account with a maximum $2,000 match. The participants’ savings goal is $1000; with the match, they will complete the program with $3000 toward a down payment on a home.

To learn more about the IDA program, please contact Grassroots Community Development at 254.235.7358.

Homebuyer Education

The flowing organizations provide programs to educate future homebuyers on the purchase process as well as financial literacy:

  • NeighborWorks Waco 254.752.1647
  • Grassroots Community Development 254.235.7358


Equal Housing Opportunity

Waco Housing & Community Development >>