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Do you want to buy your new home
with little to no money out of pocket?
The following programs and website links
offer great advice for financial options to help you buy your
home. Contact us to find
out what programs you qualify for and to get a free mortgage
analysis, or fill out our Mortgage
Analysis Worksheet for a quick response
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NON-PROFIT GRANT DOWN PAYMENT ASSISTANCE
The
many non-profit grant programs available
allow us to help you get into your new home with little
to zero out of pocket. These programs will provide down
payment assistance to potential home buyers in the
form of a grant that is accepted as a down payment by leading
mortgage lenders. There are no income restrictions,
these programs work for almost everyone! Check out these links
or contact us to find
out more information.
CITY OF AUSTIN DOWN PAYMENT ASSISTANCE
City
of Austin Down Payment Assistance program contributes
up to $5,000 towards your down payment and closing costs.
They also offer an additional $1,000 to help defray the cost
of using the MCC
(Mortgage Credit Certificate) Program.
The MCC program gives a qualified home buyer a tax rebate
of up to $2,000 annually. This amount can be used to increase
the amount you qualify for to help you buy the house you desire.
To find out if you qualify to use these programs or if you
have questions about how they work, contact
us for a no cost mortgage analysis.
STATE OF TEXAS BOND AND DOWNPAYMENT ASSISTANCE PROGRAMS (SUBJECT
TO AVAILABILITY)
The
Down Payment Assistance Program (DPAP) helps
very low- and low-income families purchase a home by providing
an interest-free loan ranging from $5,000 to $10,000-depending
on the county in which the property is located. This assistance
is for down payment and eligible closing costs, and the borrower
pays the loan when the home is either sold or refinanced,
or at the maturity of the original mortgage.
The
Texas First-Time Homebuyer Program channels below-market
interest rate mortgage money through participating Texas lending
institutions to eligible families who are purchasing their
first home, or to those who have not owned a home in the past
three years. Although income limits may vary with each bond
issue, the program is designed to serve very low- to moderate-income
(30 to 115 percent of AMFI) Texas families.
ROUND ROCK DOWN PAYMENT ASSISTANCE
The
Home Ownership Assistance Program (HOAP) provides
to qualified, first time, income eligible homebuyers a non-interest
bearing, forgivable, non-assumable loan to be used to assist
with purchasing their first home in the city of Round Rock,
Texas. Program assistance can be used for one-half of the
down payment and eligible closing costs up to and not to exceed
$5,000 on an as needed basis. Contact
us for more information on how it works and if you qualify.
*Terms and conditions
for any of the listed programs, public or private, may change
without notice. Please contact us to confirm availability
and find out if they apply to you.
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