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Texas First Time House Buyer Programs

By: utah Burden

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Approximately $5 million will go towards a 90 Day down Payment Assistance Program (DPAP). The program offers a 90 day interest free loan to qualified first time home buyers in amounts equal to 5% of the total purchase price of a home, with a maximum loan of $7,000. This will help first time house buyers who do not have adequate money saved for a down payment and closing costs to be able to pay for a home. After the closing, the home buyer can amend their 2008 return to file for their tax refund credit. If the loan is not repaid in 90 days, then it will be restructured over two years at 10% interest.

The second program is the Mortgage Assistance Program, which provides loans up to 5% of the total purchase price, with a maximum loan of $6,000. Loans under this program qualify for a 120-day interest free period. This program is available only in conjunction with the Texas First Time Homebuyer or Texas Mortgage Credit Certificate (MCC) programs sponsored by TDHCA.
These two programs are geared towards lower income limitations. Home buyers must complete a homeownership class and also pay a $250.00 fee in addition to normal closing costs. Under the programs, first time house buyers mean anyone who has not owned a home in the past three years. You must have decent credit as well to meet the requirements.

Additional programs existing are as follows:

Abilene First Time Home Buyers (FTHB) Program $3,000 (915) 676-6363
Arlington Homebuyers Assistance Program (AHAP)
This contract is managed by Hunter and Hunter on behalf of the the City of Arlington. $4,000 866-231-5843
Athens Homebuyer Assistance Program (HAP) $7,500 (903) 677-6610
Austin Housing Finance Corporation Home Down payment Assistance Program (HDPA) $5,000 (512) 499-3149
Brazoria County First Time Homebuyer Program $5,000 (979) 864-1860
Bryan Down Payment Assistance Program (DA) $12,500 (979) 209-5183
College Station Down payment Assistance Program $15,000 (979) 764-3810
Corpus Christi Home Buyer Program (HBP) $3,000 (361) 880-3010
Corpus Christi New Construction Homebuyer Program (NCP) $20,000 (361) 880-3010
Dallas County Upfront Cost Assistance (UPCAP) Program $3,000 (214) 819-6060
Dallas Mortgage Assistance Program (MAP) $13,500 (214) 651-7789
Dallas Piedmont/Seyene Housing Trust Fund Homeowner Assistance Plan $14,000 (214) 943-9007
Denton Homebuyer Assistance Program (HAP) $19,900 (940) 349-7726
El Paso Housing Assistance Program (HAP) $20,000 (915) 541-4888
CIty of Fort Worth Assistance Programs Pending (817) 392-7328
Garland NU STAR Infill Program (INFILL) $10,000 (972) 205-3321
Garland Village of Eastgate Homebuyer Assistance Program (HAP) $8,700
Greenville Homebuyer Assistance Program (HAP) $5,000 (903) 457-3160
Harlingen Community Development Corporation Homebuyers P) $40,000 (956) 421-2351
Harris County HACH Public Housing Homeownership Program (PHHP) $25,000 (713) 260-0763
Harris County Mortgage Assistance Program (MAP) $35,000 (713) 578-2000
Harris County/Houston City-Homebuyer Assistance Program (HAP) $9,500 (713) 644-8488
Hidalgo County Homebuyer Assistance Program (HAP) $5,000 (956) 318-2619
Houston Alliance for Multicultural Community Services The Alliance IDA Program (IDA) $4,000 (713) 776-4700

Article Source: http://depositarticles.com/

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