For Real Estate Agents. Homebuying Resources. Homeownership is within reach. Closing Costs. The assistance amounts range from a few thousand to tens of thousands of dollars and come in many forms, such as: Grants Zero-interest, forgivable loans Zero-interest, deferred-payment loans Low-interest loans The NeighborhoodLIFT program provides a zero-interest, forgivable loan.
The homebuyer is required to live in the home as a primary residence for at least five years. Where are you looking to buy? San Francisco Bay Area. Send us an email at LIFT wellsfargo. The amount of down payment assistance varies by area. Combined income for all borrowers on the loan cannot exceed the program income limits.
Housing Resource Center. HTC Resolution. My Home Is Here. Neighborhood Stabilization Program. Subrecipient Services. Applicant Eligibility Criteria First-time homebuyer that has not owned a home for three years prior to applying for assistance Buyer is income qualified see chart below. Buyer must have at least one credit score of Buyer must be credit approved through one of the participating mortgage lenders. Buyer is required to successfully complete an 8-hour homeownership education course before applying for DAP assistance.
Course must be: o provided by a HUD approved homebuyer education course provider. Home must be in the unincorporated areas of Harris County, which include these zip codes and service area. Homes cannot be located in the City of Houston, Baytown, or Pasadena, as these cities have their own programs. Translation Disclaimer.
Q: Does this program follow FHA guidelines? The Homebuyer Assistance Program sets and follows its own internal guidelines. Our underwriting includes calculating debt-to-income ratio, ensuring that there are no outstanding collections for government services or utilities, and verifying that there are no defaulted student loans.
What does this inspection include? A: The inspection is a free service conducted by our department. A sample of the inspection can be downloaded alternative version. A TREC inspection is required and must be conducted after construction is completed on newly constructed properties. Q: What is the environmental review, and why is it needed? A: The environmental review primarily looks at where the home is located relative to the floodway and floodplains.
Homes located in flood zones are required to have flood insurance to complete the purchase. Q: Is there a mandatory training that lenders and realtors must take to participate in the program? Any lenders and realtors may participate. We do offer a monthly class that can be helpful in sharing the steps of the process with interested professionals. Q: Who is the loan servicer? Q: Can the program funds be used to pay realtor commissions?
A: No, the funds are strictly for down payment, closing costs, pre-paids and principal reduction. Should the buyer choose to pay a realtor commission, they will have to do so from their personal funds. Housing and Communty Development Department. Homebuyer Assistance Homeownership is a dream for many Houstonians but out of reach for many residents. Program Guidelines.
To get started call Do I Qualify? First-time homebuyer or have not owned a home in the last 3 years. Home you want to purchase pays taxes to the City of Houston.
Obtain a home loan through a lender. See a list of accepted locations. Call to complete an application and determine your eligibility.
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