FAQS-Purchasing a New Home with Down Payment Assistance, Closing Cost Assistance, Mortgage Credit Certificates, and other Special Programs in Katy, Cypress, Spring, Dickinson, Rosenberg, Houston, TX). PART 3

FAQS-Purchasing a New Home with Down Payment Assistance, Closing Cost Assistance, Mortgage Credit Certificates, and other Special Programs in Katy, Cypress, Spring, Dickinson, Rosenberg, Houston, TX).  PART 3

Part 3:  How do you qualify for down payment assistance programs and other special first time homebuyer programs?

        The Individual has to qualify for the down payment assistance program or other first time homebuyer program. 

Each down payment assistance program or 1st time homebuyer program is different.  In general, of course you have to qualify on credit, and income.  Same as on a regular program.  But this states both too much, and not enough.  Each special program is different. In some ways, qualifying for a special program is stricter.  In some ways, it is easier. 

1. Some of the factors that WILL matter are: your work history, your credit history, your income.
2. Some of the factors that MIGHT matter could include: your income, your home purchasing status, the number who will be living in the household, your residency status, your profession.  That is just a start.
3. You may be required to take first time homebuyer class.  The class does not qualify you.  It is just an additional requirement – that is SOMETIMES required.

The property MAY have to qualify also.

1. The home's location...the location of the home may qualify it, or disqualify it.  Or change the qualifying parameters for YOU.
2. The home's sales price...this is likely to be a qualifying factor as well.
3. The home's qualities, its features....This is frequently relevant.  Some homes can’t qualify for certain special programs.
4. The year the house was built, etc...The wrong answer here can disqualify a home.

Ask your expert. 

If you live in and around the Houston, Texas area (Katy, Cypress, Spring, Dickinson, Rosenberg, Houston, Bacliff), call me today to find  out more about how these special first time homebuyer programs, down payment assistance programs, closing cost assistance programs, MCC Mortgage Credit Certificates and other special programs  can help you get in the new home of your dreams..  It is easier than you think.   GreenSTART Home Club helps purchasers of GreenECO Builders' new homes do it all the time.

Cheryl Kitsch

281.610.6927  cheryl.kitsch@alumni.rice.edu

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