Hunting for Texas first time home buyer grants to purchase that house? Find the best grants for home buying in Texas and other home mortgage grants and programs below.
Even though exciting, it can also be scary! But don't be blown away by the process. It is my plan to give you some useful information to help with the important down payment and closing costs that seem to be so overwhelming to most.
You want to know your credit score and determine if you need credit repair before proceeding.
Unfortunately, without a minimum credit score of 640, you'll not qualify for these low down payment programs. The FHA 203b loan works well with the various grant options. The higher your credit score is the lower your interest rate.
With so many lenders to choose from, you want to be sure and select the right one.
Anyone would enjoy a green Texas handshake. They say everything is bigger in Texas. If you qualify for one of the home mortgage down payment assistance programs in Texas, that would be awesome.
To begin with, the State of Texas does not offer a Texas first time home buyer grant program for its residents. But it does have a program that is similar.
Texas has made available a down payment assistance program called "My First Texas Home DPA PLUS". This program is a 2nd Lien No interest, no monthly payment for up to $8,000.
The state agency which maintains this program for Texas is the Texas Department of Housing and Community Affairs. It is a deferred second loan up to 4% of the mortgage amount to be used for the down payment and closing costs.
It is a zero percent loan and no payments are required. But if you sell, refinance, or transfer ownership, the loan is due and payable at that time.
Even though its not a grant, it is still awesome assistance for those who do not have the funds for the down payment. Now the 1st mortgage will be at a little higher interest rate, but there you have it a zero down financial situation.
There are restrictions and limitations to this program that you should look into before applying.
You should visit this website to determine your eligibility and obtain additional information.
In addition, the federal government offers grant assistance for first time home buyers in Texas. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program.
Their website contains useful information and applications. The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.
Another website I would recommend that you view is Visit the Government Grants. This website offers a list of all federal government grant programs. It would be a good idea to take some time and browse through this site to see what it offers and the qualifications for application.
Of course you have to find a lender who will work with these different grant programs. That's where the challenge comes in.
Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.
This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.
Please tell others about this FREE information. Everybody else on the web charges for this kind of stuff!!
Happy House Hunting!!
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Nov 01, 17 03:23 PM
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