SETH Housing Finance Corporation

South East Texas Housing

Lender Portal

Working Group Portal

2009 Single Family MRB Program

PROGRAM FUNDING $24,500,000
ELIGIBLE AREAS Brazoria, Chambers, Liberty & Walker Counties, Cities of Baytown, Shoreacres, La Porte, Deer Park, Pasadena, Tomball, League City, Santa Fe, Texas City, Dickinson & La Marque
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 FHA, VA, USDA-RD
AVAILABLE DOWN PAYMENT ASSISTANCE Assistance payment equal to 3% of the note amount to apply toward down payment or closing costs.
INCOME LIMIT CRITERIA Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older. Please See Program Guidelines.
HOME ACQUISITION LIMITS - Non-Target = $247,032
- Target = $301,929
HOME BUYER EDUCATION All buyers (any person on the Note other than co-signers) must attend an approved on-line homebuyer education course.
FICO SCORE REQUIREMENT Mid score must be 600 or higher
CO-SIGNERS Co-signers are permitted for FHA loans under very specific conditions. Cannot be named on the Warranty Deed.
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 Contact an eHousingPlus representative for additional information.
FORMS AND DOCUMENTATION View Forms and Documentation.
OTHER For additional information, See Program Guidelines.

Current Rates

  • 3.60% Assisted Rate Loan with 3% Assistance Grant (First-time homebuyer and Vets)
  • Term: 30 Year Amortizing

DPA

  • Assisted rate includes 3% of final loan amount
Program Updates

- Attention: Bond Loans CANNOT be used with MCC’s

Lender F.A.Q.

           

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