City of Houston & Houston Land Bank New Home Development Program Loan Traditional Option
City of Houston & Houston Land Bank New Home Development Program Loan Traditional Option
Program Category
Down Payment Programs
Max Amount
Up to $50,000
Contact Info
Information on the constructed homes can be found by calling 281-655-4600 or by emailing info@houstonlandbank.org.
Program Details
Buyer contribution type
Income calc method
First mortgage types
Freddie Mac,Freddie Mac Home Possible,Fannie Mae,Fannie Mae HomeReady,FHA 203(b),VA
First mortgage terms
Fully Amortizing,Fixed Rate,30-year
Property types
Single Family Detached
Repayment triggers
Sale of the home
Non-payment of real estate taxes or homeowners insurance.
Default
Change of occupancy
Transfer of title
Loan Forgiveness
Fully
Program Guide
https://houstontx.gov/housing/nhdp.htmlGuidelines:
https://houstontx.gov/housing/plans-reports/guidelines/nhdp/NHDP_Guidelines_V3_TIRZ-Approved-081522.pdfLimitations
Seller financed mortgages are not permitted.
All household members (including applicant and co-applicant) cannot be registered sex offenders. This requirement is still applicable when a spouse is listed in the household composition and not as a co-applicant.
All household members (including applicant and co-applicant) cannot be registered sex offenders. This requirement is still applicable when a spouse is listed in the household composition and not as a co-applicant.
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