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Huntsville program offers up to $7,500 toward down payment, closing costs for homebuyers

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A city-wide program aims to ease financial stress and give Huntsville buyers thousands of dollars toward downpayment and closing costs. 

The Down Payment Assistance Program gives qualifying buyers up to $7,500 in assistance.

For those looking to build a home, the program will give a maximum of $10,000. The amount one receives depends on one's financial situation. Find all the eligibility requirements, here. 

For Michael Fletcher and his wife, buying the perfect home in Huntsville was a seven-year process. 

"It can be very stressful because you have to find the right one and that’s kinda hard to do sometimes," said Fletcher. 

For the Fletchers, the journey to owning the perfect home came with its obstacles. 

"It took seven years to even find a house like this, but eventually, I found the program, and here I am," said Fletcher. 

The DAP program offers help both financially and guides future homeowners in making smart buying decisions. 

"It helps you with the financial part, what to expect, what to look for, it’s step by step with you," said Fletcher. 

Scott Erwin, the Manager of Community Development, said one of the program requirements is that buyers go through a course on homeownership with Huntsville's Family Services Center. 

"That class identifies some of the benefits and responsibilities of homeownership," said Erwin. "It also gives you insight into credit, what your current circumstances are, and being able to overcome any credit issues of your past."

Fletcher said without the program and the home buying education, the journey to purchasing a home would've taken much longer. 

"It would’ve been difficult," said Fletcher. "I probably would have found one but it probably would have been difficult to make that first payment, that down payment."

The best part, if Fletcher lives in the home for five years, the loan is fully forgiven.

"Homeownership is one of the best pathways to building wealth in any community, and also it stabilizes neighborhoods," said Erwin.

"There’s a lot of benefits for economic wealth for the homebuyer and increased stabilization for our neighborhoods."

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