Most of us are oblivious to Down Payment Assistance Programs since they are forever changing or run out of funds quickly. The Bond 74 program is one I have come across as a Sales Counselor in Southridge Crossing. It allowed my buyer to save their money upfront and come to closing with little to no money at all! Our preferred mortgage Co “Baymont Mortgage” was very familiar with the program and very helpful in the process of obtaining the funds for my customer as well. If interested in purchasing a home in the near future. I encourage you to visit me in Southridge Crossing or any Bayway Homes Community to see if you qualify!
Homebuyer Program (Bond Program 77)
Effective May 2010, the Texas Department of Housing and Community Affairs (TDHCA) announced the release of $500 million in funding for first time homebuyers. The program is designed to assist low to moderate income homebuyers who are interested in purchasing their first home. Two types of mortgage loans are available.
“Assisted loans” are 1st lien mortgage loans made available at a an interest rate slightly above the current market interest rate and provide down payment and closing cost assistance. The amount of down payment and closing cost assistance is 5% of the mortgage amount and is available in the form of a 2nd lien, 30-year, 0% interest loan. Although no monthly payments are required, the amount of assistance is due and payable in full upon sale, refinance or repayment of the 1st lien mortgage. Assisted loans are available to borrowers earning up to 115% of the area median family income (depending on family size) and up to 140% of the area median family income (depending on family size) if purchasing in a targeted area. Please review the “Combined Income and Purchase Price Limits Table” for additional detail. “Unassisted loans” are available at an interest rate slightly below the current market interest rate and do not include funds for down payment and closing cost assistance.
All 1st lien mortgage loans are available at a 30-year fixed rate. The interest rates offered under the program will change periodically depending on the industry market rates at the time the loan is registered.
Current Available Funds
Below is a summary of approximate program funds available as of MAY 24, 2010:
|
FTHB Assisted Funds Available
|
|||||
 |
Remaining
|
Rate
|
AMFI
|
Amt. of Assistance
|
Program End Date
|
| Program 74 – Statewide |
$7,526,526 | 6.25% | Up to 115/140% | 4% 2nd Lien Deferred Forgivable plus 3% Grant |
08/15/10 |
| Program 77 - Statewide Assisted -Commitment Lot 1 |
$48,397,184 | 5.74% | Up to 115/140% | 5% of loan amount -2nd Lien | 09/15/10 |
|
FTHB Unassisted Funds Available
|
|||||
|
Remaining
|
Rate
|
AMFI
|
Program End Date
|
|
| Program 77- Statewide Unassisted -Commitment Lot 1 |
Shares with
Assisted Funds |
4.99% | Up to 115/140% | 09/15/10 | |
|
MCC Funds Available
|
|||||
|
Remaining
|
MCC
Credit % |
AMFI
|
Program End Date
|
|
| 2010 Texas Mortgage Credit Program Non Targeted |
$18,474,339 | 30% | Up to 115% | 12/31/12 | |
| 2010 Texas Mortgage Credit Program Targeted |
$460,926 | 30% | Up to 140% | 12/31/12 | |
Check with any Bayway Homes Community to see if you qualify!
VISIT:http://www.tdhca.state.tx.us/homeownership/fthb/available_funds.htm FOR MORE INFORMATION.
Thanks for your sharing, it’s very useful
Thanks for sharing, I found this article while googling for song lyrics, useful comments and great points made.
Very long time reader first comment. Hey I favor what I’m reading looking over your blog and must say nice. I have a little blog myself for this topic. I ran across your internet site through google I hope I get traffic as if your site soon. I guess . Well wanted good posts on health We’ve enjoyed. The comments are a bit short I discovered your internet site through Bing.
I get your web site by way of msn. It is a wonderful online site plus photo. I will often visit.
Hi,I discover that your site is incredibly informative and helpful and we were interested if there can be a possibility of obtaining More articles or blog posts like this on your site.
Definitely trust what you stated. Your explanation was certainly the easiest to recognise. I tell you, I usually get irked when folks discuss problems that they plainly are not aware of about. You managed to kick the nail directly on the head and explained out everything without complication. Maybe, people normally takes a signal. May return to get more. Thanks.
you are very talented.
you are professional.
Very impressive website, as well as some good ideas in your post. I’ll be back her for sure. Thanks for the good content.
Howdy, your site is on air in the radio! Good job mate. Your posts are truly great and bookmarked. Regards
I admire ur job!
I love to learning more on this topic if possible, as you gain expertise, would you mind updating your blog with more information?
Really cool post. I do agree with almost everything you talked about, but not quite all of it. Let’s say I agree to disagree on a few points. Good stuff though.
I truly enjoyed this. It was very educational and useful. I will back to check on upcoming posts
You really make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complicated and very broad for me. I am looking forward for your next post, I will try to get the hang of it!
You have a great post here, truly helpful. Very well written I shall be bookmarking this website and subscribing to your feed so i can always read content of this quality.
I Too Like the Blog here. Keep up all the work. I too love to blog. This is great everyone sharing opinions
I Too Like the Blog here. Keep up all the work. I too love to blog. This is great everyone sharing opinions
Thanks for posting this info. I just want to let you know that I just check out your site and I find it very interesting and informative. I can’t wait to read lots of your posts.
Hey, great blog, but I don’t understand how to add your site in my rss reader. Can you Help me please?
Hi, I’ve been trying to email you regarding this post – could you please email me when you read this. Thank you Smile
nice, i very like it..and i hope this post is immportant to other people, so keep work and be success
Keep up the good work, uve just gained a new loyal reader and i can ensure you i will be bak often!
Hiya, Little too late for me with this build, but thanks for the informational nuggets.
Hi, usually i am searching for new informations, but on the way i saw your blog it is very nice to new informations like this, thanks for sharing it.
My direct e-mail is: dlowry@baywayhomes.com
This is a interesting post.
Hi everyone. Interesting topic for a blog. I was just surfing the Internet for fun when I found your website. Fabulous post. Thanks a ton for sharing your thoughts! It is great to see that some people still put in an effort into managing their websites. I’ll be sure to look in from time to time.
Thanks for posting about this, I would love to read more….
Hi Webmaster, commenters and everybody else !!! The blog was absolutely fantastic! Lots of great information and inspiration, both of which we all need!Keep ‘em coming… you all do such a great job at such Concepts… can’t tell you how much I, for one appreciate all you do!
Thank you ever so for you article.Really thank you! Great.
I have to say this is the third time I have read your website and I am diggin it! I added your website to my rss reader. Looking forward to see more blog posts!
A round of applause for your blog post.Much thanks again. Much obliged.
Enjoyed every bit of your blog. Much obliged.
Really enjoyed this blog article.Really looking forward to read more. Want more.
Very good blog post.Much thanks again. Awesome.
It is a superb subject to speak regarding. Appreciate putting up this site. I know there are tons looking for this sort of discussion.
This is by far the best looking site I’ve seen. It was completely easy to navigate and it was easy to look for the information I needed. Fantastic layout and great content!
Can I just say what a pain relief to find a star who essentially is familiar with what theyre talking regarding on the internet. You definitely identify how toward bring an topic to brightness plus build it important. Additional people require to read this plus recognize this side of the story. I cant believe youre not additional fashionable since you absolutely have the gift.
Im thankful for the blog.Thanks Again. Really Great.
Took me time to observe every one of the comments, except I in fact loved the commentary. It proved being in reality obliging to me plus I am constructive to all the commenters here! It’s normally pleasant when you be able to not just be informed, but in adding entertained! I am constructive you had pleasant writing this write-up.
Thank you for present really wonderful informations. Your internet is greatI am impressed by the data that you’ve on this blog. It exhibits how well you realize this topic. Bookmarked this web page, will arrive again for a lot more. You, my buddy, amazing! I found just the info I by now explored everywhere and just can’t find. What a ideal web site. Like this website your web page is 1 of my new most-loved.I such as this data proven and it has provided me some sort of creativity to possess good results for some reason, so maintain up the excellent do the job!
Exactly how did you figure all this out about this topic? I enjoyed reading this, I’ll have to visit other pages on your site straight away.
Can I just answer what a pain relief to find a name who actually knows what theyre talking concerning on top of the the web. You definitely tell how to bring an matter to glow plus make it important. Extra people call for to study this plus understand this side of the story. I cant consider youre not more well-liked because you definitely have the gift.
That is some inspirational stuff. Never knew that opinions could be this varied. Thanks for all the enthusiasm to offer such helpful information here.
Thanks for posting about this, I would love to read more….
Well said, I could not agree more with you on this issue. I think your blog is very popular on this topic judging by all the other comments posted to it. I just wanted to leave a comment to appreciate your hard work.
Great Blog I love the lay out and the color scheme is it possible to get a copy of your theme?
We use wordpress
Wow I have read your article and by the way I found you website on Bing and I think after I read several post on you website especially this one I have my own opinion about what should I say on the next meeting with my friends, maybe today I will tell my friendsabout this one and get debate.