AUSTIN – Prospective, lower-income, first-time Texas homebuyers now have an additional resource to help with down payment and closing costs.
The Texas Department of Housing and Community Affairs has entered into a $10 million loan agreement with Woodforest National Bank to address the need for low-cost homebuyer assistance funds.
The agreement will fund down payment and closing cost assistance in conjunction with approximately $250 million in first lien mortgage loans and $10 million in 30-year, zero-interest, second-lien mortgage loans that are due on the earlier of sale, refinance, or maturity of the first lien mortgage loan.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.