2009 MCC Program
| PROGRAM FUNDS | $ |
| ELIGIBLE AREAS | Bastrop, Blanco, Burnet, Caldwell, Fayette, Hays, Lee, Llano, or Williamson Counties, including the City of San Marcos in Hays County) Also included are The City of Georgetown and the City of Cedar Park |
| ELIGIBILITY CRITERIA | - First-time Homebuyers - Must be able to permanently reside in the US. - Principal residence - Borrower(s) must occupy property within 60 days of closing - IRS filed returns for past three years is required for all borrower(s) and spouses |
| ELIGIBLE LOAN TYPES | FHA, VA, USDA-RD |
| AVAILABLE DOWN PAYMENT ASSISTANCE | Assistance payment equal to 4% of the note amount to apply toward down payment or closing costs. Cash back is not allowed |
| INCOME LIMIT CRITERIA | Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older. |
| HOME ACQUISITION LIMITS | Acquisition Limits vary by property. See Program Guidelines. |
| HOME BUYER EDUCATION | All buyers (any person on the Note/Warranty Deed other than cosigners) must attend an approved face-to-face homebuyer education course. View Homebuyer Education Providers. |
| FICO SCORE REQUIREMENT | Mid score must be 620 or higher |
| CO-SIGNERS | Cosigners are permitted for FHA loans under very specific conditions. See Program Guidelines. |
| LOAN TIMELINE REQUIREMENTS | - Reservation to UW Cert: 45 Days - Reservation to Close and Delivery: 85 days - Reservation to Loan Purchase: 110 days |
| LENDER PARTICIPATION | View participating lenders here. |
| OTHER | For additional information, please See Program Guidelines. |
Current Rates
Eff. 8/22/11
- 3.60% – Assistance Rate Loan
- 4.00% – Assistance Grant
Program Updates
- Information coming soon!
I am a lender and I have questions. Who can I contact?
If you have any questions, please refer to the Compliance Contact Directory.
