New Down Payment Assistance Programs For Houston First Time Home Buyers

Nov 21

Written By Diana

Hello and welcome. If you are a first time home buyer thinking of purchasing your first home, there is financial help available to help you get the keys to your new home. Here is a break down of current home buyers assistance programs.

There are 2,444 home buyer assistance programs currently available.
While 2,218 programs have income limits, 226 do not.
898 programs support manufactured housing purchases.
81% of programs are currently funded.
4% of programs have a wait list for funding.
73% of these down payment assistance programs are for down payment or closing cost assistance.
10% of programs are first mortgages.
3% of programs are Mortgage Credit Certificates (MCCs).
14% are other program types.
60% of programs are for first-time buyers, while 40% allow repeat buyers.
You can also use Down Payment Assistance to purchase 2, 3 and 4 unit multi-family properties. However, the buyer must reside in one of the units while renting out the other units.

For more information, please speak with your loan officer to find a program that will work for you. As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...