The Federal $8,000 First Time Home Buyer program may be gone but there are still many other programs out there to get your buyers into homes now.
These programs are available exclusively through Select Mortgage Banks as determined by the state of Texas and HUD, to qualify for these programs simply call our office at the number below or you may Apply Online.
- What is it? – Professional Educators and Homes for Texas Heroes Mortgage Programs provide 30-year fixed rate mortgage loans to eligible first-time home buyers. In addition to a low interest rate, these programs offer down payment and closing cost assistance in the form of a grant.
- Who is Eligible? – The programs were created to provide affordable mortgage loans exclusively for Texas Professional Educators, Texas “Heroes”, and low income Texans. For detailed definitions of “Heroes”, please click here.
Texas First Time Home Buyer Program TDHCA Bond 77 Program (Effective 5/22/10)
- What is it? – Receive up to 5% towards down payment and closing Costs
- Who is Eligible? – First time Home Buyers statewide and FTHB AND Existing Home Buyers in targeted areas
Texas First Time Home Buyer Tax Credit ($60,000 life of loan Tax Credit)
- What is it? – Buyers receive up to $2,000 per year Tax Credit for the life of the loan – The Gift that Keeps on Giving!
- Who is Eligible? – First time Home Buyers statewide AND Existing Home Buyers in targeted areas
USDA Rural Development Loan
- What is it? – 100% Financing Loan with No Monthly Mortgage Insurance
- Who is Eligible? – First time Home Buyers statewide who purchase “Rural” homes according to USDA Guidelines
- But I thought It was out of money? USDA is again issuing Conditional Commitments as of 5/31/10
First Time Home Buyer Credit of $8,000 and $6,500 for Move up buyers still available to some veterans
- What is it? – The Same Tax Credit you come to know and love has been extended
- Who is Eligible? – Veterans and some members of the foreign service
- What is it? – 100% Financing loan for veterans
- Who is Eligible? – Any Veteran with other than a dishonorable discharge
These Programs are are available exclusively through Select Mortgage Banks as determined by State of Texas and HUD, and we are pleased to be able to offer these programs statewide to you.
To find out if you qualify you will need to:
- If you are prequalified with a lender you MUST either get the down payment assistance from that lender or move your loan to us for us to assist you further.
- If you are not prequalified with a Lender then fill out our online application here or simply call (936) 228-1944 and we will be happy to assist you.
- Don’t Forget you will need to take a HUD approved Home buyer education class to take advantage of this Texas First Time home buyer down payment assistance program.
To get pre-qualified for these programs simply call our office or you may Apply Online. The above is not a comprehensive list of programs and requirements feel free to call our office at the number below with additional questions.