I've compiled
the best down payment assistance programs for the Austin Texas area.
I look forward to helping you obtain a property for zero or very little
down. This is not a complete list of Austin's Down Payment
Assistance Programs so please call or email if you need a program that
is not listed below.
|
Allows 100% Financing |
T.D.H.C.A. (TX Dept of Housing) allows you to use up to
$7,000 of the $8,000 tax credit towards the closing cost & down
payment of your
home when you are using an FHA loan through a lender who is
included in this widely unknown program. This prevents you
from having to wait to file your taxes to get this tax credit
and allows you to use $7k to fund your closing expenses.
Call me for more details. |
|
HUD $100 Closing |
The
US Department of Housing and Urban Development is offering
several sales incentives right now. One of these
incentives is that you can purchase a HUD home with only a $100
down payment through an FHA loan. The typical down payment
is 3.5% & this is lowered to only $100 and HUD will pay up to 3%
of allowable closing costs!!
HUD inventory changes regularly.
I try to maintain a list of Austin area HUD homes but it's
impossible to keep an up to date list of HUD homes on my website
for various reasons. Please call or email me to request an
updated list today! I can set up a search that constantly
notifies you of new inventory as well as existing inventory.
You may use the below link to view the incomplete list on my
website:
Austin Foreclosure Homes
Email or Call Today and I'll
send you a complete list of HUD homes for sale |
|
USDA Loans
100% Financing |
USDA
offers financing on homes outside of what they describe as high
population areas. So, if you are looking for a home
outside of Austin this financing can provide you a $0 down loan
option. If you would like to check if a home qualifies for
USDA financing please follow this link:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=rbs
In general, homes outside of the
shaded area will qualify for USDA 100% Financing.
 |
| UFCU
100% Financing |
University Federal Credit Union offers special 100% financing
for Austin professors and medical professionals such as area
doctors, nurses, and pharmacists. Please call me for more
information in regards to UFCU's loans as they change all the
time. |
| City of Austin
Down Payment Assistance |
The
Austin
Down Payment Assistance Program (DPA) provides qualified,
first-time homebuyers, with a zero interest loan to assist with
purchasing a home located within the Austin City Limits.
DPA funds cover the down payment and eligible closing costs and
pre-paid expenses associated with buying a home.
Click Here For Moe Info:
http://www.ci.austin.tx.us/ahfc/first_dpa.htm |
| MCC
Mortgage Credit Program |
A
Mortgage Credit Certificate allows a homebuyer to claim a tax
credit for some portion of the mortgage interest paid per year.
It is a dollar for dollar reduction against their federal tax
liability. This allows a home buyer to obtain additional
assistance towards closing costs. For additional
information please use the following url:
www.tdhca.state.tx.us/homeownership/fthb/mort_cred_certificate.htm |
