Houston Community News >> Texas First Time Homebuyer Program

8/22/2006 Houston, TX - The Texas First Time Homebuyer Program is helping Texas homebuyers, lenders, and realtors live big. Brought to you by the Texas Department of Housing and Community Affairs, this statewide effort encourages first time home purchases by offering incredible deals through our the Texas First Time Homebuyer Network of participating lenders.

This opportunity includes mortgage loans well below market rate, as well as down payment and closing cost assistance.

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If you are a homebuyer, the Texas First Time Homebuyer Program can help turn your first mortgage into a new leases on life. They offer Texans mortgage loans below market rate, down payment and closing cost assistance, and incentives on homes purchased in targeted areas.

To be eligible, you may not have owned a home for the past three years, and must meet certain income guidelines-many Texans qualify. Purchase may include any new or existing home or condo in the state of Texas.

 

Steps to start living big:

  1. Prequalify online at www.myfirsttexashome.com

  2. Find what types of property are eligible

  3. Review rates, fees, and requirements

  4. Gather important documents

  5. Contact a participating lender

Additional helpful information:

Grant Down Payment Assistance: Receive a grant based on a percentage of your mortgage loan that can be applied to down payment or closing costs.

Targeted Census Areas: Homebuyers purchasing properties located in certain areas do not have to be first time homebuyers-purchase price and income limits may be higher.

Credit Report: You should review your credit rating before purchasing a home. You may request a free copy of your credit report once every 12 months. Visit www.annualcreditreport.com.