How to Buy a Home with No Down Payment!
3:18 PM
A few facts about Down Payment Assistance programs
If you qualify for a program that offers down payment assistance, there are other expenses that you will incur that are related to the buying process (i.e earnest money deposit, option money fees, appraisal, and possibly closing costs)
Typically a score of 640 is required to qualify for most down payment assistance programs.
There is usually an income cap on these types of programs, based on your household size. (see chart for examples)
A lot of cities in the state of Texas have there own down payment assistance programs. The cities of Arlington, Grand Prairie, Lewisville, Dallas, and Irving, to name a few.
And lets's not forget about the Texas Veterans. Texas has you covered.
On the state level Texas has two major down payment assistance programs such as TSAHC, and TDHP .
And if you're interested in living in a rural area (i.e Forney ,Providence Village, Savannah) USDA loans are a great 100% financing option.
If you're considering purchasing a home, and you need to down payment assistance you owe it to yourself to research this. Your first step you be to contact your local real estate agent to determine which lender may be best suited for your situation.
Happy House Hunting!!
Donna Foy
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