Buyer Assistance Programs

Below is a list of bond and/or grants for borrowers to discuss with their lender.  Please note, not all borrowers are eligible for the bond/grant programs listed below and the criteria and availability of these programs are subject to change without notice.

Please call Lisa Cannon at (210) 884-9515 or click to email for lender information and to begin your home buying process.

 

Texas Veteran’s Land Board Bond Program

 Program Details:

  1. Exclusively for eligible Texas veterans
  2. Up to $417,000 for a home purchase
  3. Fixed rate VA, FHA or Conv loans of 15, 20, 25 or 30 years
  4. Must be primary residence
  5. New homes must be ENERGY STAR certified or have a HERS Index of 75 or less
  6. Interest rate set weekly by VLB
  7. Discounted rate for disabled veterans with 30% or more service-connected disability rating and surviving spouses
  8. Only one VLB loan at a time per veteran

 

Texas State Affordable Housing Corp Down Payment Assistance

Program Details:

  1. Available to teachers, firefighters, peace officers, veterans and low to moderate income homebuyers.
  2. 3% or 5% assistance is in the form of a grant, not a second lien, and can be used toward closing costs and down payment requirement. No repayment required.
  3. 30 year fixed rate FHA, VA or USDA mortgage loan
  4. No first-time homebuyer requirement
  5. Homebuyer does not need to live in the home for any set period of time, recapture tax no longer required.

 

TX Department of Housing and Community Affairs- My First Texas Home (TMP 79)

Program Details:

  1. Must be a first-time homebuyer (or not owned a primary residence in last 3 years; exceptions for veterans and purchasing in a targeted area
  2. Minimum credit score of 640
  3. Meet income requirements for area (San Antonio $60,300 non-targeted area, $72,360 targeted area for a family of 1-2 persons)
  4. Pre-purchase homebuyer education course required
  5. 5% assistance for down payment and closing costs is a second lien that features a 30 year term with zero interest rate.  It is a due-on-sale, deferred payment loan.
  6. FHA, VA and USDA 30 year fixed financing

 

South East Texas Housing Finance Corp 5 Star Texas Advantage Program

Program Details:

  1. Income limit for Bexar County is $67,620
  2. FHA, VA or USDA 30 year fixed financing with 3%, 4% or 5% Down Payment Assistance
  3. Minimum credit score of 640
  4. No first-time homebuyer requirement
  5. Homebuyer education course required
  6. Maximum debt-to-income ratio is 45%
  7. Purchase limit is $250,200

 

Please call Lisa Cannon at (210) 884-9515 or click to email for lender information and to begin your home buying process.