First-time home buyer programs in Memphis

Who qualifies under the Citywide Down Payment Assistance Program (CWDPA)?

• The property must be inside Memphis city limits.
• Your household income can't exceed 80% of area median income.
• You must complete a homebuyer education course.
• The sales price can't exceed $300,000.
• Housing counseling certified by HUD.
• You must keep the property as your primary residence during the 5/10 year affordability period.
• The minimum investment is 1% of the sales price.

There are no monthly payments under this deferred payment loan. The property carries a 2nd lien lasting 5 or 10 years, and the lien comes off once every term is satisfied.

Nothing is due each month for a deferred loan. The full balance comes due if you sell, refinance or repay the first mortgage.

Submit a file to the City DPA Department (phone (901) 636-7474, [email protected]). Read the full rules on City of Memphis Division of Housing and Community Development, Down Payment Assistance Department's page for Citywide Down Payment Assistance Program (CWDPA).

Who qualifies under the Homebuyer Incentive Program for Citizens (HIPC)?

• The home must be in one of 15 designated areas inside Memphis city limits.
• The qualifying range for household income runs from 80% to 200% of the area median income level.
• Being a first-time buyer isn't required.
• You must complete a homebuyer education course.
• For both new and existing homes, the sales price can't exceed $350,000.
• No other property may be owned at the time you buy.
• Housing counseling certified by HUD.

There are no monthly payments under this deferred payment loan. The property carries a 2nd lien lasting 5 years, and the lien comes off once every term is satisfied.

Submit a file to the City DPA Department (phone (901) 636-7474, [email protected]). Read the full rules on City of Memphis Division of Housing and Community Development, Down Payment Assistance Department's page for Homebuyer Incentive Program - Citizens (HIPC).

Who qualifies under the Homebuyer Incentive Program for Police, Fire and MSCS Employees (HIPP, HIPF, MSCS)?

• Eligibility covers every part of Memphis city limits.
• There's no income limit.
• Being a first-time buyer isn't required.
• You must complete a homebuyer education course.
• For both new and existing homes, the sales price can't exceed $350,000.
• No other property may be owned at the time you buy.
• Housing counseling certified by HUD.

There are no monthly payments under this deferred payment loan. The property carries a 2nd lien lasting 5 years, and the lien comes off once every term is satisfied.

Submit a file to the City DPA Department (phone (901) 636-7474, [email protected]). Read the full rules on City of Memphis Division of Housing and Community Development, Down Payment Assistance Department's page for Homebuyer Incentive Program - Police, Fire and MSCS Employees (HIPP, HIPF, MSCS).