PROGRAMS

HC-1

The most popular program right now.  This is a REPAYABLE 2nd lien of 5% and the interest rate on the full mortgage is only 5.375%.  3% down required, so the assistance covers the entire down payment with 2% left over for closing costs and prepaids.   680 score required, income limits vary by county.  MCC available for qualified first time home buyers.  Available state-wide.

GS-1

This Program provides assistance in the form of a forgivable 2nd lien. The maximum amount of Assistance to be provided is 4%-  7% and is based on the final loan amount. The Assistance is forgiven equally each month and is considered completely forgiven after 7 years. Funds can be used toward your down payment and closing costs. The program also provides a 30 year fixed rate mortgage. Mortgage options are FHA, VA, USDA and Conventional. There is no pre-payment penalty or federal recapture tax for the mortgage loan.

This program is available in Texas but outside of Travis County and the city limits of El Paso and Grand Prairie.  Income limits vary by county.  620 credit score required, MCC available

Rates currently range from 5.75% (4% assistance) to 6.625% (7% assistance).

HC-2

NON – REPAYABLE GRANT:  Assistance of 3% or 4% that never needs to be repaid.  Rates from 5.75% to 6.00% depending on the amount of grant needed.  640 score, MCC available.  Available State-wide, income limits vary by county.

TC-1

Travis County Texas ONLY…  NON – REPAYABLE GRANT:  Assistance of 4% to 6% that never needs to be repaid.  Rates from 5.75% to 6.375% depending on the amount of grant needed.  640 Score, MCC available.  Income limit:  $113,960

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