Many grant and bond programs in the lending world are available for home purchasing consumers in Texas, but little is known about many of them because most lenders/loan brokers are unaware of their makeups and guidelines. Some of these loans are not designed for a family who may be planning to purchase a “move up” home w/in 5-7 years because in some cases the assistance that is used to help with down payment or closing costs is “not forgivable”, meaning there are other guidelines that penalize a consumer that doesn’t stay in the loan for a specific number of years. The Texas First Time Homebuyer Program is a great assistance program that offers below market rates and makes a grant available for the client up to 5% of the mortgage amount. Not just anyone can receive these grants and rates. There are guidelines for staying in this loan for specific length of time, but the guidelines are much more forgiving than other programs. If you are in a non-targeted market, your income must be at or below 60% of the median income in your area. If you are in a targeted market, your income can be as much as 140% of the median income. Funds from this program are not unlimited and each year a certain dollar value is made available. To see if you are in a targeted market and/or a good candidate for this program, feel free to call me at 469-450-2723. Be prepared to share with me your total household income and preferred area to move.