In Texas, home loan borrowers have the option to opt for special bond programs, apart from the FHA, VA, USDA, and conventional home loan options. In many cases, a bond program can be the best option for the borrowers. Let us take a look at some of these programs: Texas First Time Home-buyer Bond Program For many home loan borrowers, the Bond Program 77 or the Texas First Time Home-buyer Program can be the most suitable loan program. Prominent features of this program are:
Texas Mortgage Program: TMP-79 Another bond program that you can apply for is the Texas Mortgage Program. The purpose of designing this program is to replace the single-family bond program. More than $600 million has been set aside for helping homebuyers under this program. Compared to the previous family bond program, the Texas Mortgage Program is known to help borrowers on down payments and closing costs. The additional elements of this program comprise up to 5 percent of the total home loan. An important feature of this loan program is that the income level eligibility of borrowers is based on the location of their home. In short, there are different maximum income requirements based on where the home is located. The above-mentioned bond programs are suitable for borrowers who cannot afford to make the required down payment for the home loan, but can pay a part of it. These programs can be combined with other programs, and borrowers can actually get the chance to own a home without any down payment. You need to consult an expert on these bond programs as they can help you decide whether you are eligible for such a loan program or not, or what is the best option for you based on your financial circumstances. Once you are aware of the best Texas Bond programs available to you, the next step is to begin the application process. Since these programs help you resolve your down payment and interest rate issues, the process involved can be quite complicated. Thus, in order to fulfill your dream of owning a home, you need to take help from the experts. During the loan approval process, there are other important aspects to be aware of such as the Good Faith Estimate (GFE) and the Truth-in-Lending disclosure worksheet. These are important to understand because they include the various costs involved in loan processing. You shouldn’t need to worry about these issues. Rather you can focus on hiring a specialist lending firm with comprehensive knowledge of mortgage processing. They will provide you with an array of options and help you make the right choice based on your requirements.
2 Comments
10/26/2017 02:36:21 am
I really appreciate this wonderful post that you have provided for us. I assure this would be beneficial for most of the people.
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11/5/2017 12:44:49 pm
very interesting post.this is my first time visit here.i found so many interesting stuff in your blog especially its discussion..thanks for the post!
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November 2017
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