As rising home prices and higher interest rates continue to put homeownership out of reach for many families, Fort Worth officials and housing advocates are encouraging residents to learn about programs that could provide thousands of dollars in financial assistance toward purchasing a home.
The City of Fort Worth and nonprofit Housing Channel are hosting a free Homebuyer Fair on Saturday, designed to connect prospective buyers with lenders, housing counselors and assistance programs that can help make homeownership more attainable.
The fair will be held from 10 a.m. to 2 p.m. at New Heights High School, located at 3908 McCart Ave. in Fort Worth.
Click here for more details on attending.
The event comes as cities across North Texas grapple with housing affordability challenges and growing concerns about access to homeownership for lower- and moderate-income families.
“We have resources and ways to help educate families so that they can get better rates, they can start savings for their down payment, and we have programs that actually assist with financial assistance for down payment and closing cost assistance,” said Donna Van Ness, president of Housing Channel. “People who feel like the dream is out of reach can actually attain that dream of home ownership.”
Attendees will have the opportunity to learn more about the city’s Homebuyer Assistance Program, which offers up to $25,000 in down-payment assistance for eligible buyers whose household incomes do not exceed 80% of the area’s median income. For a family of four, that income limit is approximately $88,250.
The assistance can be used to purchase eligible homes within Fort Worth.
The event will also include tours of newly renovated homes in the Carroll Park neighborhood of southeast Fort Worth. The homes are listed at approximately $135,000 and are available to buyers whose household income does not exceed 120% of the area’s median income.
Van Ness said many residents incorrectly assume homeownership is impossible in the current market without exploring available assistance programs.
“I want to really encourage everyone to reach out and just get the information,” she said. “Start the process because we can help you build your credit. We can help with budget management and savings opportunities.”
Housing counselors work with prospective buyers on credit improvement, budgeting and financial planning, while also connecting them with lenders and additional assistance programs.
Van Ness said homeownership remains one of the most effective ways for families to build long-term financial stability and generational wealth.
“Even though the idea of homeownership may be out of reach for some people, there are ways to enter the market and it’s still one of the best ways for families to build generational wealth,” she said.
In addition to Fort Worth’s program, Housing Channel helps residents access Tarrant County’s Homebuyer Assistance Program. That program provides up to $50,000 in down-payment assistance for eligible buyers whose incomes do not exceed 80% of the area’s median income.
The county program can be used in communities throughout Tarrant County outside of Fort Worth, Arlington and Grand Prairie, including cities such as Hurst, Euless, Bedford, Burleson and Mansfield.
Residents unable to attend Saturday’s fair can learn more through upcoming Housing Channel Homebuyer Orientation sessions. A virtual orientation is scheduled for Sept. 2 at 10 a.m., and an in-person session will be held Sept. 23 at 5:30 p.m. at Housing Channel’s offices on Grainger Street in Fort Worth.
All events are free. Click here for more information and registration details.