Houston HFC 2009 Bond Program

 

Houston Housing Finance Corporation

Lender Portal

Working Group Portal

2009A Single Family MRB Program

PROGRAM FUNDS $15,000,000
ELIGIBLE AREAS Residences within the corporate limits of the City of Houston, Texas.
ELIGIBILITY CRITERIA - First-time Homebuyers
- Borrower(s) & Spouses, occupant or non-occupant
- Must be able to permanently reside in the U.S.
- Principal residence
- Borrower(s) must occupy property within 60 days of closing
- IRS filed returns for past 3 yrs – all borrower(s) & spouses
ELIGIBLE LOAN TYPES U S Bank will provide the types of government loans permitted. Conventional loans cannot be reserved without the approval of U S BANK.
AVAILABLE DOWN PAYMENT ASSISTANCE That program currently provides $19,500 of DPA for families whose projected annual income does not exceed 120% of the area’s median income.
INCOME LIMITS CRITERIA Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
Non-Target
-  1-2 persons: $66,000
-  3 or more persons: $75,000
Target
-  1-2 persons: $79,200
-  3 or more persons: $92,400
HOME PROPERTY LIMITS See Program Guidelines.
HOME BUYER EDUCATION All buyers (any person on the Note other than cosigners) must attend an approved on line homebuyer education course.
CREDIT SCORE REQUIREMENT Mid score must be 600 or higher
CO-SIGNORS Cosigners are permitted for FHA loans under very specific conditions.
See Program Guidelines.
LOAN TIME LINE 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.
FORMS AND DOCUMENTATION View Forms and Documentation.
OTHER For additional program information, please See Program Guidelines.

Current Rates

  • 3.39% - Low Rate
  • 3.40% – With 4% Assistance
  • Term: 30 Year Amortizing

DPA

  • Low rate is not DPA eligible
  • Assisted rate includes 5% of final loan amount

 

Program Updates

- Information coming soon!

Lender F.A.Q.
Homebuyer F.A.Q.

           

Please check back soon for system training updates.

 

  

To register for Houston HFC Flex Training, please click here. For additional information on Lender Flex Training, please visit our Flex Training F.A.Q.

Note: Flex Training is available only on Tuesdays between 7 AM – Midnight in all time zones.