2009 Bond Program
| PROGRAM FUNDS | $20,000,000 |
| ELIGIBLE AREAS | Eligible Area Includes the geographical area within Tarrant County, Texas, that automatically includes all cities with populations under 20,00 and including the following cities with populations of 20,000 or more: Arlington, Benbrook, Euless, Fort Worth, the portion of Grand Prairie that falls in Tarrant County, Haltom, Hurst, Mansfield, North Richland Hills, Watauga |
| 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 LIMITS CRITERIA | Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older. - 1-2 person HHLD max = $68,300 - 3+ person HHLD max = $78,545 |
| HOME ACQUISITION LIMITS | - Targeted: $247,032 - Non-Targeted: $301,929 - Mansfield: $160,000 |
| HOME BUYER EDUCATION | All buyers (any person on the Note other than cosigners) must attend an approved on-line homebuyer education course. |
| 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 TIME LINE REQUIREMENTS | - Reservation to UW Cert: 45 Days- Reservation to Close and Delivery: 85 days- Reservation to Loan Purchase: 110 days |
| LENDER PARTICIPATION | TBD |
| FORMS AND DOCUMENTATION | View Forms and Documentation. |
| OTHER | For additional information, please See Program Guidelines. |
Current Rates
- 4.79% Assisted Rate Loan with 3% Assistance Grant
- Term: 30 Year Amortizing
DPA
- Assisted rate includes 3% of final loan amount
Program Updates
- Information coming soon!
Lender F.A.Q.
I am a lender and I have questions. Who can I contact?
If you have any questions, please refer to the Compliance Contact Directory.
What is the First Time Homebuyer Program?
The First Time Homebuyer Program is a program offered by the state of Texas to help Texans buy their first home. The program provides low-interest rate home loans for eligible families and individuals through the sale of tax-exempt mortgage revenue bonds.
Homebuyer F.A.Q.
What is the First Time Homebuyer Program?
The First Time Homebuyer Program is a program offered by the state of Texas to help Texans buy their first home. The program provides low-interest rate home loans for eligible families and individuals through the sale of tax-exempt mortgage revenue bonds.
Who is eligible for the program?
Homebuyers who have not owned a home within the past three years, who meet program income guidelines and do not exceed the program purchase price limits are eligible to apply for a loan under this program.
Please check back soon for system training updates.
To register for Tarrant County 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.
