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Posted on: December 27, 2023

City offers help with down payments, closing costs for first-time homebuyers

A for sale sign in front of a home with a sold sign plastered over it

The City of Victoria recently helped a single mother of four buy her first home, and funding is available to help up to three more households this year.

First-time homebuyers can apply for up to $5,000 in down payment assistance and up to $5,000 in closing cost assistance through the City’s Community Development Block Grant program.

What is the CDBG program?

The CDBG program allocates federal funds for a variety of programs that serve low- to moderate-income residents. The City’s CDBG services include in-house programs as well as partnerships with local nonprofits.

These services help low- to moderate-income residents in many different situations, from those experiencing poverty and homelessness to those—like the mother who was helped—who can make a mortgage payment but are unable to afford the upfront cost of buying a home.

Who is eligible for homebuyer assistance?

The applicant’s household income must be no more than 80% of Victoria’s median family income. To view current median family income limits, visit

The applicant must also be able to qualify for a mortgage from a private financial institution.

In addition, the monthly mortgage payment must be less than 33% of the resident’s household income, OR the resident’s debt-to-income ratio must be less than 45% with the mortgage payment included. This helps to ensure that the applicant will be able to afford future payments.

How to apply

To download an application form, and to learn about other CDBG services and partnerships, visit

Completed application forms should be delivered to the bank or other financial institution that is providing the mortgage. 

For more information about the homebuyer assistance program, contact Community Development Planner Zachary Wendel at or 361-485-3375.

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