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2012 - 2013 Programs, Bonds, Trust and Grants!

TDHCAListed below are overviews of some of the programs which offer mortgage, down payment and closing cost assistance to home buyers who qualify.  These programs are offered in the form of Grants, Bonds, Trusts, and Mortgage Backed Securities Initiatives.  Some of the programs require the buyer to repay the assistance amounts when the property is sold or transferred and some programs allow the amount to be forgiven.  Please contact Complete Realty DFW Real Estate Agents to find out more about these and other programs available.  We specialize in working with the assistance programs and with First Time Home Buyers.

Taxable Mortgage Program (TMP Program 79)

Texas Housing AuthorityCurrent Interest Rate: 3.5%
Current Assistance:  5%

 

TDHCA is making available $600 million in homebuyer assistance — the largest amount ever offered by the state — through a new mortgage-backed securities initiative that provides qualifying borrowers a number of advantages over the Department’s previous single family bond program.

The My First Texas Home's “Taxable Mortgage Program” (TMP Program 79) offers a more competitive interest rate than was possible under the bond program, while increasing the amount of down payment and closing cost assistance offered from 4 percent to 5 percent of the mortgage loan.

Plus, TMP funds can be combined with the Department’s Mortgage Credit Certificate Program, further increasing the home’s affordability. The program features a number of other benefits homebuyers will find attractive; however, current eligibility guidelines still apply.

All of this is available from the state agency synonymous with responsible home ownership. Beginning with its predecessor, the Texas Housing Agency, TDHCA has a long track record as a safe, trustworthy source of homebuyer assistance with 32 years of experience and expertise in working with low to moderate income first time homebuyers.

City of Fort Worth Housing Assistance

First Time Home Buyers

The City’s Homebuyer Assistance Program (HAP) provides mortgage assistance for income-eligible first-time home buyers with the City of Fort Worth.

Qualifying home buyers can receive a subsidy of up to $14,999 for homes located in Fort Worth. The buyer can use the full $14,999 subsidy for mortgage assistance or use $3,000 of this amount for closing costs and/or down payment.

 

Tarrant County Homebuyer Assistance Program

Tarrant County Homebuyer Assistance Programs provide property-specific down payment and/or closing cost assistance for qualified first-time homebuyers whose household income doesn't exceed 80% of the area media income ($55,350 for a family of four, for example.)  These properties are located in both Tarrant County and in Arlington.  Contact Complete Realty DFW to find out about these listings and about getting qualified for one of these programs.Home Programs

 

TSAHC Home Loan Assistance Programs

Down Payment Assistance

Current Interest Rate:  3.5%                       Current Assistance:  5%

 

The Professional Educators, Homes for Texas Heroes, and Home Sweet Texas Home Loan Programs provide 30-year fixed rate mortgage loans to eligible homebuyers wishing to achieve the American dream of homeownership. In addition to a low interest rate, these programs offer down payment and closing cost assistance in the form of a grant. These programs are available through a network of participating lenders across the state.  

To qualify for the Professional Educators program you must be at least one of the following:

  • public classroom teacher;
  • full-time public teacher’s aide;
  • full-time public school librarian;
  • full-time public school counselor;
  • full-time public school nurse; or
  • Allied Health or Professional Nursing Program faculty

To qualify for the Homes Texas Heroes, you must be at least one of the following:

  • Fire Fighter;
  • Corrections Officer or Juvenile Corrections Officer (this
    includes any employee of the Texas Department of Criminal
    Justice or Texas Juvenile Justice Department that receives
    hazardous duty pay);
  • County Jailer;
  • Public Security Officer;
  • Peace Officer; or
  • Emergency Medical Service Personnel.

To qualify for the Home Sweet Texas Home Program, a buyer whose family income does not exceed the applicable maximum family income amount, which amount shall not be greater than 80% of applicable median family income without adjustment for family size.

 

HUD FORECLOSED HOMES
HUDYOU DO NOT HAVE TO BE A FIRST TIME HOME BUYER TO TAKE ADVANTAGE OF HUD FORECLOSED HOMES.HUD The U.S. Department of Housing and Urban Development (HUD) offers special incentives to purchase their foreclosed homes. HUD uses only HUD-approved realtors to show their properties and offer bids to purchase. The good news is that there are some beautiful homes at excellent prices to be had and people who are wanting to live in the homes have the advantage of being able to bid before investors. HUD will also provide up to 3% of the sales price of the home to help pay for closing costs. Call Margie at 817-424-3300 or email Margie@margie1.com to schedule appointments to see these homes.
fortworthgrantmoney.com

Finding the right assistance program is difficult because they change frequently. Fort Worth Grant Money works to stay involved with all the programs on a daily basis. We are here to ensure First Time Home Buyers take advance of all the assistance available in the market.

Click the Find a grant tab to find out which of these or other programs are for you