New Houston program helps low and moderate-income buyers afford homes

HOUSTON, Texas (KTRK) -- Home ownership could go from a dream to reality for some Houstonians, thanks to a new program.

The city of Houston has launched its New Home Development Program. It's designed to provide newly constructed, affordable, single-family homes for qualified low and moderate-income homebuyers.

To qualify, applicants' incomes must be at or below 80 percent of the area median income.

They must also receive a Homebuyer Education Certificate through an approved HUD counseling agency, occupy the home as their principal residence, and must not be delinquent on any student loans, federal income taxes, state and local taxing authorities, utility payments or city services.

Back-end debt ratio cannot exceed 45 percent.

Lots for the homes are in Acres Homes, Gulfton, Second Ward, Near Northside and Third Ward.

Mayor Sylvester Turner says the program will bring at least 100 homes to the Houston area.

The city broke ground on the lots for 19 of those homes on Tuesday.

Houston is using local tax dollars and community block grants to start the building process. Eventually, money from a Hurricane Harvey relief fund from the federal government will be used to help build the homes as well.

Overall, there are 600 abandoned lots that the city now owns. City officials say you can expect to see those houses pop up over the next few years.

"We are all on a mission and the mission is to build thousands of affordable homes in this city for the hard working people in the communities that make our city great," Turner said.

You can view the map of available lots on the program's website.

Find out more about the homes for sale by contacting the Houston Land Bank at 281-655-4600 or send an email.