Authorized Mortgage Banker for Bond 77
Details for TDHCA Bond 77 Lot 1 or allotment #1
UPDATE: This down payment assistance (DPA) program is out of funds and was last checked Friday July 21st. This information is accurate as of that date. Please call our office at our contact page for more information on the 100% financing and first time home buyer tax credit programs available in your area.
As your Texas Certified Mortgage Coach and Sr Mortgage Banker I am pleased to announce the release of the TDHCA new Single Family Mortgage Revenue Down Payment Assistance (DPA) Bond Program Series 77. These programs are available through through Select Mortgage Banks as determined by TDHCA, to qualify for these programs you must be able to qualify for a regular FHA Mortgage. If you cannot qualify and be approved by a TDHCA Approved Lender you cannot receive the funds for bond 77. To see if you qualify you may fill out our online application here to start the process or simply our contact page .
***Interest Rate is set in “LOTS”. Each lot is good for 90 days. Based on date of sale, borrower must be reserved or must wait for next Lot to be Released.
- Loan must close by 8/16/2010 – Best to have house under contract 30 to 45 days before this
- “ Lot 1 “ expires on 8/16/2010 – all loans on this program must close by 8/16/2010. Loans that will close after that date will be reserved under “ Lot 2 “ – rates for that program will be released when available. this program offers EITHER a low interest rate OR a higher rate with DPA. You must chose one or the other – you cannot have both.
- 5.74% fixed rate, 30 year– 5%Down Payment Assistance – DPA, DPA is due on sale, Refinance or no longer occupies the primary residence (In other words, the assistance that you receive you must pay back when you sell or refinance the home)
TDHCA Bond 77 program is an excellent way for a First Time Home Buyer to purchase a home in Texas and These programs are available exclusively through Select Mortgage Banks as determined by TDHCA, to qualify for these programs you may Apply Online here or simply our contact page . Don’t Forget our Home Buyer University Classes will better prepare you for these special First Time home buyer programs.
If you have specific questions about Income Caps, Purchase price limits or other details of the program our contact page and speak to a Mortgage Banker. If you are currently working with another lender on your Bond 77 loan please contact your lender directly or TDHCA Directly.
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