Jefferson Bank is a participating lender in the City of San Antonio’s Homeownership Incentive Program (HIP). It offers eligible first-time homebuyers* a second loan to be used in conjunction with Jefferson Bank’s purchase mortgage loan.
Features of the HIP 80 Loan Program:
- Provides assistance to first-time homebuyers
- Can borrow between $1,000 and $30,000
- No interest/no payments second loan
- Can be used for any combination of the down-payment and closing costs
- 100% of the loan will be forgiven over a 5 or 10 year period while residing in the home**
*Borrowers must meet the following requirements to be eligible:
- Be at or below 80% of the Area Median Income (AMI) (see chart below)
- Complete the 8-hour Homebuyer Education Class
- Make a minimum $500 earnest money deposit on the purchase contract
- Be a U.S. citizen or legal resident
- Qualify with a mortgage lender for primary home loan
- Home must be located inside the City of San Antonio Taxing Jurisdiction
2024-2025 Income Limits
(Updated by Department of Housing & Urban Development annually)
| AMI | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person |
| 80% Limit | $49,600 | $56,650 | $63,750 | $70,800 | $76,500 | $82,150 | $87,800 |
