This program allows a first time home buyer in Texas to monetize the $8000 tax credit and apply it to their down-payment and closing costs.
Funds are available on a first come, first served basis. Currently only $5 Million has been allocated for this program.
Requirements:
- No one on the loan may have owned a home within the last 3 years
- Home must be new or resale and used as a principal residence
- Allows for financing of single family detached homes, town homes, and condos
- Purchase must occur between 01/01/09 and 12/01/09
- Minimum credit score of 620 required on all borrowers
- Income limits: $75,000.00 for a single taxpayer and $150,000.00 for married taxpayers
- Home buyer class is required
This is a great program for those who are a bit short on cash to close. There’s nothing worse than finding the home you wish to buy and draining all of your savings to make the purchase a reality.
For more information or to apply please call Leesa Sandoval at 972-725-9110 www.leesasandoval.com