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HomeBase’s Affordable Homes are available for families and individuals who make up to 80% of the Median Family Income (MFI) and who are priced out of the rising housing market. If you are interested in a HomeBase Affordable Home, please review the eligibility requirements below to determine whether or not you qualify.

General Eligibility

  • At least one applicant must work 25-hours/week (not applicable if disabled or retired).
  • Must obtain Income Eligibility Certification from Lender stating that household income and assets meet the Income & Asset Guidelines and is at or below 80% of the Median Family Income as published annually by HUD.
  • Buyer is required to attend a homebuyer education class by the lender.
  • Must not have owned a home within the last 3 years. A displaced single parent who deeded his/her share of a
    homestead to an ex-spouse in a divorce settlement is considered a first-time homebuyer for eligibility purposes
  • Must qualify for a first lien mortgage.
  • Must occupy the property as primary residence.
  • Must agree to all affordable housing guidelines and participate in the HomeBase Affordable Homes Program.
  • Must comply with the City of Austin’s SMART Housing Program.
  • Must provide accurate and complete information. False or misleading statements concerning household status, income, and/or assets will disqualify applicants from participation in the program and may subject the applicant to other sanctions.
  • Other requirements may apply.
Household size is composed of all individuals who will be occupying the home. If two people are a “couple”, regardless of marital status, then both people must be included on the application. A couple in the process of a divorce or separation must submit proof of filing in order to apply separately. Co-signers are allowed, provided they do not appear on the warranty deed.

Persons not counted as family members for the purpose of determining income include:

  • A child who is subject to a shared-custody agreement in which the child resides with the household for less than 50 percent of the time;
  • Unborn children; and
  • Children being pursued for legal custody or adoption who are not currently living with the household.
The HomeBase Affordable Homes Program has adopted Income & Asset Guidelines, in order to assist buyers who could not otherwise afford to purchase a home. Income Eligibility Certification is contingent on the City of Austin’s SMART Housing approval. Buyers must meet both the HomeBase Affordable Homes Program Income & Asset requirements and the City of Austin’s SMART Housing Income requirements, in order to purchase a HomeBase Affordable Home. Income Eligibility Certification is valid for six months, or until a contract is entered into for a home on which the buyer closes, whichever is earlier. Income Eligibility Certification does not guarantee that an applicant will qualify for a home mortgage. Other requirements may apply.

Click to view the 2015 HUD MFI Limits

  • The full amount, before any payroll deductions, of wages and salaries, tips, commissions, bonuses and other compensation;
  • Self-employment Net Income as shown in the Federal Tax Returns from the operation of own business including proprietorships and partnerships and incorporated businesses;
  • Social security or railroad retirement;
  • Profit (or loss) from royalties or rental of land, buildings or real estate or roomers or boarders. Income from any estate and/or trust fund;
  • Gift amount that is above 20% of the purchase price;
  • Supplemental Security Income (SSI), or any public assistance or welfare payments such as TANF;
  • Regularly received retirement payments, survivor or disability pensions, including IRA/Keogh distributions;
  • Child support or alimony;
  • Any other sources of income received regularly, including but not limited to, VA payments, unemployment, interest, dividends, or investment fund or trust distributions;
  • Income from assets calculated at the published HUD Passbook Rate (currently 2%, but subject to change);
  • Asset limit is $150,000. Assets include, for example, cash, checking, money market and savings account balances, certificates of deposit, investment portfolios such as stocks and bonds, and the equity in any real estate owned.
  • Other requirements may apply.

Interested in information about our homeownership opportunities?

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500 W Ben White Boulevard, Suite 100
Austin, TX 78704 map
512-472-8788 * Contact Us

HomeBase NMLS # 377115

HomeBase is not a chartered bank or trust company or depository institution. It is not authorized to accept deposits or trust accounts and is not licensed or regulated by any state or federal banking authority.

HomeBase is a Type-1 Support Organization of Austin Habitat for Humanity.

Equal Housing Opportunity

Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department's website at www.sml.texas.gov.

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