Know the language

Welcome to the world of affordable housing! As you embark on your journey into this vital field, it's essential to familiarize yourself with the terminology. Let's break down some key terms that you're likely to encounter along the way.

First up, we have AMI, which stands for Area Median Income. AMI limits are crucial benchmarks for determining eligibility for various housing assistance programs. Typically, these limits are posted on the websites of downpayment assistance programs, outlining the maximum income allowed to qualify.

Next, we have LMI, which stands for Low to Moderate Income. This term refers to income levels within a specific area. Utilizing GIS maps (geographic information system) can be immensely helpful in pinpointing whether a property falls within an LMI area, providing valuable insight for both buyers and program administrators.

When it comes to downpayment assistance programs, you'll frequently come across the acronym DPA. This umbrella term encompasses a wide range of Downpayment Payment Assistance programs designed to make homeownership more accessible for individuals and families.

Now, let's dive into some regional specifics. In Harris County, specifically, the term DAP refers to the Downpayment Assistance Program administered by the county. Meanwhile, HAP, or the Houston Assistance Program, is a vital resource offered by the city of Houston. It's worth noting that Houston boasts several distinct assistance programs, each tailored to address different needs within the community.

Lastly, let's touch on CLT and HLB. CLT, or Community Land Trust, is a program offered by both the city and county aimed at promoting affordable homeownership opportunities. On the other hand, HLB, the Houston LandBank, plays a crucial role in revitalizing neighborhoods and expanding affordable housing options throughout the city.

Armed with this newfound understanding of housing terminology, you're well-equipped to navigate the landscape of affordable housing with confidence. Remember, knowledge is power, and by familiarizing yourself with these terms, you're taking an important step towards promoting housing attainability for all.

Your Texas Affordable Housing Specialist