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The original item was published from 1/13/2023 11:55:21 AM to 7/18/2023 12:00:02 AM.

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Posted on: January 17, 2023

[ARCHIVED] City offers help with down payments, closing costs

A residential home

As part of the City’s efforts to expand access to housing, Development Services is offering assistance with down payments and closing costs for qualifying first-time homebuyers.

The assistance is funded through the federal Community Development Block Grant program, which is reserved for projects that benefit low-income residents.

The program is open to residents who are able to qualify for a mortgage but need help meeting the upfront costs for a home.

The City has provided similar assistance through the CDBG program in the past. Development Services Director Julie Fulgham explained that helping residents become homeowners helps break the cycle of poverty, reduces strain on the rental market and builds community pride.

Julie_Fulgham“Homeownership is one of the best ways for low-income families to build equity and savings for themselves and their children,” Fulgham said. “It also contributes to more stable neighborhoods because when people own their houses, they are more likely to stay in a neighborhood and take pride by keeping their homes in good condition.”

To qualify for the program, residents must earn no more than 80% of Victoria’s median family income, which varies depending on household size. To view the median family income limits for Victoria, visit Also, the mortgage payments for the home must be less than one-third of the household’s monthly income.

Residents who qualify can receive up to $5,000 toward a down payment (no more than 50% of the total down payment) and up to $5,000 in closing cost assistance. Funding for the program is limited and will be distributed on a first-come, first-served basis.

To view the full list of eligibility requirements and download an application form, visit Application forms should be returned to the bank or lender providing the mortgage.

The City of Victoria works with private developers and community partners to find housing solutions that meet various types of needs. To learn more about how the City is working to expand budget-friendly housing in Victoria, visit

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