Get Help with Down Payment Assistance Programs, First Time Homebuyer Programs, MCC Mortgage Credit Certificates, and many other Special Programs on your New Home – (In New Homes now available in Texas, Harris County, Galveston County, Fort Bend County, City of Houston, Katy, Spring, Cypress, Dickinson, Rosenberg, or Bacliff, Tx)
Finding your way through the possibilities of down payment assistance programs and other special programs can be very confusing – especially if you are a first time home buyer. Being the 1st in your family makes it doubly so.
So, here is a brief explanation on some of the aspects.
In Texas Down Payment Assistance programs there are a many down payment assistance initiatives and other assistance initiatives (“grants,” “gifts,” etc) that allows assistance to be given under certain circumstances to persons who are purchasing a new home. Because there are such a variety of programs, all with their own details, it is misleading to give short answers about who can qualify and who cannot. It is a complicated flow chart, certainly.
To give you a broad overview of the scope of first time homebuyer assistance programs, whether they are down payment assistance or other special programs
-
ONE WAY to categorize Down Payment Assistance programs and other special programs, including first time home buyer programs (including MCC Mortgage Credit Certificates), is in terms of their source.
- Federal Programs
- State Programs
- County Programs
- Other Programs
- A SECOND WAY to categorize down payment assistance programs and other special programs, including first time homebuyer programs (including MCC Mortgage Credit Certificates, is in terms of what they do.
- Help with down payment assistance. Depending on which program, these programs may pay for:
- The entire down payment needed
- Most of the down payment needed
- All the down payment needed PLUS SOME of the closing costs and pre-paids
- All of the down payment, all of the closing costs and pre-paids
- All of the down payment, all of the closing costs and pre-paids and also a reduction of the loan principal
- Help with reduction of the monthly/annual obligations (cash benefit or reduced rates)
- A THIRD WAY to categorize down payment assistance programs and other special programs, including first time homebuyer programs (including MCC Mortgage Credit Certificates is in terms of who qualifies.
- Some are income based, where your family, or household income, cannot exceed 140% or 120% or 100% or 80% or 60% of AMFI (Average Median Family Income). Sometimes the SIZE of household affects the numbers.
- Some are profession based and limited to certain professions, such as ....
...A Professional Educator: a full time Classroom Teacher, Teacher Aide, School Librarian, School Nurse or School Counselor employed by a public school district in the state of Texas; or a full time faculty member of either an undergraduate or graduate professional nursing or allied health program in the State of Texas;
...A Texas Hero: a full time, paid Firefighter, Emergency Medical Services Personnel, Peace Officer, Corrections Officer, Juvenile Corrections Officer, County Jailer, or a Public Security Officer working in the State of Texas
...Military status, or your status as a veteran, or your status as a surviving spouse of a veteran.
Are you eligible for one of the assistance programs, special programs, or first time homebuyer programs in the Texas State Down Payment assistance Program or one of the other special first time homebuyer or other special programs?
Are you interested in finding out more about these special programs and about buying a new home in one of these areas in Texas?
- Katy (Harris County)
- Cypress (Harris County)
- Spring (Harris County)
- Dickinson (Harris County)
- Rosenberg (Fort Bend County)
- Houston (Harris County)
- Bacliff (Galveston County)
Yes, in answer to your next question. YES, you may very well qualify for one or more, and even be able to combine two or more special programs: First time homeer assistance, down payment assistance, closing cost assistance, MCC Mortgage Credit Certificates, TX VET VLB (Texas Veterans Land Board), New Energy Star, energy savings brick homes available in the following subdivisions, with more areas coming all the time: Audubon Lake, Avondale, Bentwood at Bay Colony; Cypress Trace, Grants Trace, Kingspoint Gardens, Lakes at Mason Park, Mount Royal Village, Plantation Lakes, Southdown Trace, Southridge Crossing, Sugar Pine Pavilion. Summer Lakes, Villas at Canyon Lakes West
Visit This Series on First Time Home Buyer Programs:
Comments(1)