NORTH DALLAS HOMES

Down Payment Assistance Programs

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Use your First Time Homebuyer $8,000 tax credit for your down-payment

The Federal Housing Administration ( FHA ) is going to permit its lenders to allow first time homebuyers to use their $8,000 tax credit for the down payment.
Previously, most buyers wouldn't receive the money until after they filed their tax return.

 

The Texas Department of Housing and Community Affairs (TDHCA) has announced that they are releasing two new programs, that help with the assistance of a first-time home owners down payment!!

FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at closing to be used as the down-payment.

 

If you are unable to repay the loans within the allotted time frame, each program allows a slower payback option.  The Mortgage Advantage Program allows you a 2 years repayment time at 10%.   The 90-Day Payment Assistance Program allows you a repayment period of 5 years at 7%.

 

As you noticed, neither program allows to borrow against your full $8,000 tax credit but this is still a great offer if you need additional cash for closing!!! Contact you lender for more details.

 

 

 

Remember, you only have until December 1, 2009 to close on a new home to take advantage of this Tax Credit and these programs, so if you're on the fence, think of the 8000 reasons why you should jump now!!!

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Other Down-payment Assistance Programs
The Texas First Time Homebuyer Program
Ameridream
Down- Payment Solutions

 

 

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If you want to buy  a new home or are selling your existing home, Call 214-336-7088 or e-mail me at jay@realestatedal.com

 We serve Allen, McKinney, Prosper, Frisco, Plano, Lewisville, The Colony, Sachse, Wylie, Murphy, Richardson, Carrollton, Flower Mound, Coppell, along with many other areas around DFW.

Frisco foreclosures offer a tremendous amount of value and can save the buyer thousands.

        Down Payment Assistance Information For Texas

Jay A Hendrick
William Davis Realty

8856 Coleman Blvd

Frisco, Texas 75034
Cell: 214-336-7088
Voice/Fax: 972-248-5991
E-mail: jay@realestatedal.com

Website: www.RealEstateDal.com

Website: www.ForeclosuresFrisco.com
Member:  NAR  TAR  CCAR