Memphis Connected
Down Payment Assistance
The Down Payment Assistance program aids prospective homebuyers in Memphis by providing financial support for the upfront costs associated with purchasing a home.
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The Down Payment Assistance program aids prospective homebuyers in Memphis by providing financial support for the upfront costs associated with purchasing a home. This program is especially beneficial for individuals and families who struggle to accumulate savings for a down payment.
Eligibility Requirements
Income
- Household of 1 must have income less than $47,200
- Household of 2 must have income less than $53,800
- Household of 3 must have income less than $60,350
- Must have household income at or below 80% of the Area Median Income (AMI) for Shelby County
- Household of 4 must have income less than $66,900
- Maximum income limit is 80% area median income for Citywide DPA program
- Maximum income limit is 80% area median income for Memphis Housing Authority DPA program
- Maximum income limit is 200% area median income for the Homebuyer Program Incentive Citizens program (HIPC)
- Must meet 2023 HUD Median Income Limits based on household size
- Must fall within High Income (200% AMI) range for eligibility
- Must meet HOME Income Limits for homeownership assistance
- Maximum income limit is 80% area median income
- Homebuyer Program Incentive Citizens (HIPC) maximum income limit is 200% area median income
Other
- Must be a first-time homebuyer, defined as not having owned a home in the past three years
- Covid Housing Assistance Program (CHAP) administers funds to nonprofit organizations to provide to families/individuals to prevent foreclosures and evictions
Education
- Must complete a Homebuyer Education course prior to receiving assistance
Residency
- Property must be located within Memphis city limits or designated areas per program guidelines
- Must purchase within 15 designated areas for the Homebuyer Program Incentive Citizens program (HIPC)
- Must reside in Memphis, TN-MS-AR HUD Metro FMR Area
- All properties must be located within Memphis city limits or designated areas per program guidelines
- Citywide DPA allows property purchase anywhere in the city limits
- Memphis Housing Authority DPA may purchase properties anywhere in the city limits
- HIPC participants must purchase within 15 designated areas within the city
- HIPP participants may purchase properties anywhere in the city limits
- HIPF participants may purchase properties anywhere in the city limits
- MSCS participants may purchase properties anywhere in the city limits
Family Status
- Current or recently displaced Memphis Housing Authority (MHA) residents are eligible for the Memphis Housing Authority DPA program
- Must be current or recently displaced Memphis Housing Authority (MHA) residents
Employment
- Must be a uniformed officer with the City of Memphis Police Department for a minimum of one year for the Homebuyer Program Incentive Police program (HIPP)
- Must be a front-line firefighter with the City of Memphis Fire Department for a minimum of one year for the Homebuyer Program Incentive Firemen program (HIPF)
- Must be a full-time Memphis Shelby County School Employee for a minimum of two years for the Homebuyer Incentive Program Memphis Shelby County Schools (MSCS)
- Homebuyer Program Incentive Police (HIPP) must be a uniformed officer with City of Memphis Police Department for a minimum of one year
- Homebuyer Program Incentive Firemen (HIPF) must be a front-line firefighter with the City of Memphis Fire Department for a minimum of one year
- Homebuyer Incentive Program Memphis Shelby County Schools (MSCS) must be a full-time Memphis Shelby County School Employee for a minimum of two years
How to Apply
- online
- in-person
Benefits
Benefit amount: Varies by program (one-time)
housing
Required Documents
- Proof of Income
- Credit Report
- Homebuyer Education Completion Certificate
- Proof of income
- Proof of residency
- Employment verification (if applicable)
- Other documents as determined by program guidelines
Frequently Asked Questions
What do I need to do before I can get down payment assistance?
You must complete a Homebuyer Education course before receiving assistance.
Am I eligible for the Down Payment Assistance program?
To be eligible, your household income must be at or below 80% of the Area Median Income for Shelby County, and you must be a first-time homebuyer.
What is the maximum income I can have to qualify?
For a household of 1, the income must be less than $47,200; for 2, it must be less than $53,800; for 3, less than $60,350; and for 4, less than $66,900.
How can I apply for the Down Payment Assistance program?
You can apply by following the specific application steps provided on our website or by contacting us for more information.
Are there any deadlines for applying to this program?
The specific deadlines for applications may vary, so please contact us to confirm the current timeline.
What happens after I apply for the Down Payment Assistance program?
After you apply, your application will be reviewed, and you will be notified about the next steps in the process.
Contact
- Phone
- 901-636-7474
- Office hours
- M-F 8:00 a.m. – 5:00 p.m.