First Time Homebuyers
UDDC’s First-Time Homebuyer Program provides financial assistance to eligible buyers purchasing a new or recently rehabilitated home within the University District. Assistance may include support with the down payment, closing costs, and purchase price reduction.
Program Qualifications
- Be a first-time homebuyer
- Have an annual income not more than 80% of the area median income
- Purchase a UDDC-constructed or rehabilitated home within the University District Development Area
Income Qualifications
To be eligible, your anticipated annual income must not exceed 80% of the area median income, adjusted for family size. Because last year’s tax return may not reflect current earnings, UDDC uses current income documentation—such as pay stubs and benefit receipts—when determining eligibility
For questions about area median income, please contact the UDDC.
Who is a first time homebuyer?
A first-time homebuyer is a person who has not financed a home within the last three years prior to the date of application to the UDDC program. All participants must sign documentation attesting to no prior homeownership within the preceding three-year period. A person who was previously married and owned a home with a spouse, but does not currently have an ownership interest, may be eligible to qualify as a first-time homebuyer.
What is Down Payment and Closing Cost Assistance?
A first-time homebuyer meeting income qualifications is eligible to receive down payment and closing cost assistance to purchase a home constructed or renovated by the UDDC. The amount of assistance is based upon need. The maximum assistance available for down payment and closing costs is $20,000.
