Authorized Mortgage Banker for Bond 77
The rate for the TDHCA bond 77 program is now higher!
UPDATE: This downpayment assistance program is out of funds and was last checked Friday June 23rd. This information is accurate as of that date. Please call our office at our contact page for more information on the 100% financing programs available in your area.
This week the average rate for low expense home loans topped an average of 5.125%. Because of how the Texas Bond 77 rates are set the latest #8 commitment is surged to 5.5%. Rates are expected to climb higher in future commitments. To take advantage of this rate you need to fill out our online application here as soon as possible before funds are exhausted. Because of the demand that this has put on the program this commitment it will expire on 5/1/2011 or when funds are exhausted, whichever comes first.
If you are already working with another lender you will need to contact them to obtain the assistance. If they cannot do bond 77 we will be happy to assist you to qualify using our online application here.
Here are the details for TDHCA Bond 77 Lot 8 or allotment #8
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 5/1/2011 – Best to have house under contract 30 to 45 days before this
- “ Lot 8“ expires 5/1/2011 – all loans on this program must close by 5/1/2011. Loans that will close after that date will NOT receive down-payment assistance.
- 5.5% 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)
Future Lot Details – Lot 9 Rates surge
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 our contact page 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 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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