Authorized Mortgage Banker for Bond 77
Details for TDHCA Bond 77 Lot 5 or allotment #5
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 call (832) 303-5693.
***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.
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- Loan must close by 1/15/2011 – Best to have house under contract 30 to 45 days before this
- “ Lot 5“ expires on 1/15/2011 – all loans on this program must close by 1/15/2011. Loans that will close after that date will be reserved under “ Lot 5 “ – 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.
- 5.30% 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 during a specified time See the details here)
Additional program details and qualifications here.
We offer the TDHCA Bond 77 program as an excellent way for a First Time Home Buyers to purchase a home in Texas to qualify for these programs you may Apply Online here or simply call (832) 303-5693 to speak to a Mortgage Banker. Don’t Forget our Home Buyer University Classes will better prepare you for these special First Time home buyer down payment assistance programs.
If you have specific questions about Income Caps, Purchase price limits or other details of the program Call our office at (832) 303-5693 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.
Sincerely,
Henry Daniels – Sr. Mortgage Banker & CMPSI Certified Mortgage Coach
(832) 303-5693
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