Texas Has Bond Money available for Buyers

By
Real Estate Agent with Brown Realty, 210-789-4216,www.JeremiahNewman.com TREC #0492321

Texas Has Bond Money available for Buyers.  Texas has increased opportunities for buyers to gain their Dream Home.  Find your next home in San Antonio Real Estate and Homes For Sale.

BOND 77 PROGRAM
* Option 1
: Special fixed-interest rate with no down payment assistance
* Option 2: Special fixed-interest rate on first lien with down payment assistance equal to 5% of the first lien and in the form of a second lien at 0% interest over a 30-year term (payable when home is sold); if 5% second lien is paid off early (i.e., before the buyer sells or refinances the home), first lien interest rate drops to the unassisted rate.  These rates change monthly. The present unassisted rate is 4.85%.

Household Income Limits

Texas image

 

* Non-targeted areas 

· $58,600 for households of 1 to 2 people

· $67,390 for households of 3 or more people


* Targeted areas

· $70,320 for households of 1 to 2 people

· $82,040 for households of 3 or more people


First-Time Home buyer Requirement
* Targeted areas

· First-time home buyers or previous homeowners


* Non-targeted areas

· Eligible home buyer must not have had an ownership interest in his/her primary

  residence at any time during the last three years prior to closing date

· Qualified veterans exempt from this requirement if they were honorably discharged

  and have not had a previous mortgage loan through tax-exempt bond financing

Definition of Targeted Areas

· A census tract in which 70% or more of the families have incomes that are 80%

  or less of the statewide median income

· An area of chronic economic distress

· Properties within the Rita GO Zone are considered to be targeted areas

· Texas Counties within the Rita GO Zone:Angelina, Brazoria, Chambers, Fort Bend, Galveston, Hardin,    Harris, Jasper, Jefferson, Liberty, Montgomery, Nacogdoches, Newton,
Orange, Polk, Sabine, San Augustine, San Jacinto, Shelby, Trinity, Tyler and Walker


Prequalify online with a preferred lender for this Texas-sized opportunity.   Then, Call Me Today!

                                                  

 

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Ambassador
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Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Great Blog Jerry! Nicely laid out and clear. I hope you get some buyers from this. I also wanted to thank you for your subscription! I really appreciate and value my readers! Thanks again!

Feb 22, 2011 01:25 PM #1
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1,179,354
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Tammy. Thanks for your comments on this post. I need to go back and comment on what I was reading yesterday on your post.

Feb 23, 2011 01:53 AM #2
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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Now that is news that buyers can use.

Feb 23, 2011 02:47 AM #3
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2,302,991
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Jerry.  This is such a great program.  This should definitely get the buyers out there buying.

Feb 23, 2011 02:49 AM #4
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1,179,354
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks Charita and Belinda. I was excited when my lender informed me of the news. These funds usually go quickly once it is advertised to the public.

Feb 23, 2011 03:16 AM #5
Rainmaker
496,705
Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, e-Pro, TAHS

Now is the time to buy, right Jerry?  :)  Good blog!

Feb 23, 2011 02:32 PM #6
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1,179,354
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, thanks Ricki. This should motivate buyers to make their move to purchase that Dream Home before interests rates start to climb again.

Feb 24, 2011 03:04 AM #7
Rainmaker
472,173
Sondra Meyer:
Star View Real Estate - Colorado Springs, CO
See It. Experience It. Live It.

Jerry, great information for buyers.  I love that Texas picture/logo that you have attached to this post!  I just skimmed through some of your other posts as well.  You are providing lots of great info.   As result, count me as another suscriber.  (And, welcome to AR!)

Feb 26, 2011 07:44 AM #8
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks for your nice comments Sondra on my post. Are you in Colorado Springs, CO or College Station, TX? I just added you as an associate too.

Feb 26, 2011 12:03 PM #9
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Jerry Newman

Texas REALTOR, San Antonio Military Relocation
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