The Texas State Affordable Housing Corporation has opened up the Professional Educators 2007B program for loan reservations. The interest rate will be 6.60%, 1 + 1 on a 30 year fixed rate loan. Eligible borrowers will receive a grant of 5% of the loan amount that can be used to pay closing costs, prepaids and, in some cases, down payment.
Maximum purchase price remains at $237,301. Maximum annual income is $53,700 for a family of 1-2 and $61,755 for 3 or more. First time homebuyers only, unless purchasing in a targeted census tract.
Jean-Marie Warren
WR Starkey loan officer
210-771-5897
Comments(2)