If you are considering purchasing a home but worry about the down payment and closing cost you will need to invest, there may be assistance available for you. S.E.T.H. (Southeast Texas Housing Finance Corp.) is offering the 5 Star Texas Advantage program grant, up to 5% of loan amount for home, which a buyer can use towards down payment/closing cost.
Summary of program:
-Must purchase home as primary residence, owner occupied
-Must be a FHA, VA or RHS 30 yr, fixed rate loan
-No first time home buyer requirement
-No "federal" recapture or repayment on grant
-640 min. credit score, max. 45% Debt to income ratio
-Max household income (depends on county property is located in)
-Max. purchase price is $250,200
To find out more about the program. or to see if you qualify, you will need to contact an approved lender (approved by SETH). I am also available to answer questions you may have or direct you to one of the approved lenders. (832)233-7215 or tricia@triciafrazier.com
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