New program offers home flood assistance

A new down payment assistance program has been announced for Kerr County residents affected by the deadly Fourth of July floods.  On Wednesday, the Texas State Affordable Housing Corporation, Connective and the Community Foundation of the Texas Hill Country announced the new program is funded by the Kerr County Flood Relief Fund, the $4 million investment that is a part of the Foundation’s larger $40 million commitment to help local residents residents regain stable housing.

The assistance program will reportedly offer between $10,000 and $145,000 based on household income, with an additional $30,000 available for first-time buyers, veterans or active-duty military.

If home owners are interested in the grant, they must work with a lender approved by the Texas State Affordable Housing Corporation and use a TSAHC mortgage loan, according to a press release.  The release goes on to say people may also combine the grant with TSAHC’s standard down payment assistance, which offers up to 5% of the mortgage amount.

In order to be eligible for the assistance program, residents must have lived in Kerr County or Comfort during the July Fourth floods and show documentation that their primary residence was made uninhabitable.  The press release also says applicants must have a household income below $123,500 to be eligible as well.

Applicants interested in the flood assistance program should visit RebuildKerrDPA.org to learn more about the program and connect with a TSAHC-approved lender.