Did you know that a new loan product was released to relieve the stress of purchasing a home in Houston, Spring, Rosharon, Katy, Humble, Missouri City, and Fresno? Yes that's right! You can move in with zero dollars down for your down payment if you are considering purchasing a home in the Houston area.

The Loan is for low to moderate income families and areas in Houston. Now is the time to act if you have ever thought about owning a home. The standard FHA requires a minimum of 3.5% down, but with this new program, the down payment is 0%. Save money! To add on, this loan does not require you to pay mortgage insurance. This is huge! Mortgage insurance is typically required by the lender to cover the loan in case you default on the loan. The benefit of not paying mortgage insurance monthly, lowers you monthly payment by $100s all while increasing your purchasing dollar amount.

There are two ways qualify for this loan:

1. Minimum FICO Score of 640|Must make below $60,480 (if the credit score is 620-639, it will be 3% down )


2. The area will qualify for this program regardless of income.

You can look up the property on the link below, click on demographic data and if it shows low/moderate under the tract income level then there is no income limit and if it has anything else then the income limit is 80% of the 2018 FFIEC median family income (which is shown 2 boxes down from the tract income level.) The link to the map that shows the low or moderate income areas is

Like this post? Learn more about the home buying process by following @houstonrealtorb on instagram. Or visit for more information on buying or selling a home.

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Post Category: Home Buying, Affordable Housing, Education

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