The Texas State Affordable Housing Corporation Homes for Texas Heroes Grant Program has grant money available for you and pays for about half of what is required for your down payment and closing cost.
There is no second lien associated with this Grant. It is a true grant equal to 5% of your loan amount and never needs to be repaid. You do not have to be a first-time home buyer to take advantage of the Grant.
Even better, TexasHeroes has joined forces with Keller Williams Realty that can show you how it's possible to get the seller to pay the balance of what you would normally be expected to pay at closing. Do not think that everyone knows of this grant program including most real estate agents. Nor do not think that most real estate professionals know or understand how mortgage underwriting guidelines work which allows you to actually purchase a home without spending a dime of your own money when it's all said and done.
Make it happen.
As with many of us it isn't that we can't afford the monthly mortgage payment because we are already spending more then we should be on rent. It's the fact that we just don't have the money for the down payment and the two or three months worth of payments as reserves as required by most mortgage underwriters.
Bottom line is this. To purchase a $100,000 house you're going to need around $11,000 in your savings account of which $3,000 of that you'll need as a house payment reserve for loan approval. That's a lot of money being that you still have to pay for movers and get your home setup with all the other things you're going to need when moving into a new place.
This is where a Keller Williams Agent can help. The grant pays for 5% of your down payment, which in this example is $5,000. You're Keller Williams Agent gets the seller to pay around 3% to 4% of your loan amount towards your closing cost. This covers the $7,000 or $8,000 that is required for you to get into the house. All you need now is your 2 to 3 months of house payment reserves in your savings account.
Even if you have to pay full price for the home to get the seller to pay for your closing cost it's worth it because the interest rates are so low that the difference in your house payment is very litter compared to the cash outlay you would otherwise have to spend.
Are you ready to buy a house?
If you are eligible and do not exceed the income limits and have not already hired a real estate agent complete the form below and have a Keller Williams agent in your local area be in touch with you directly. These agents can answer any questions on how to take advantage of this special Homes for Texas Heroes Grant.
They can help you find an approved TSAHC lender and can show you how you can purchase your dream home without having to empty out your savings account. We want to ensure that you not only keep as much money as you can in your pocket, but that your purchase goes as smooth as it should. You should also know that although this Keller Williams Real Estate Agent represents you, their commission is paid for by the Seller of the home you purchase.
Start viewing hundreds of homes for sale using the Texas city links below but remember, the agents listing the homes for sell below represent the Seller and their job is to get the best deal they can for the Seller...not the best deal for you.
Be sure to complete the Form so we can put you in contact with an agent to make sure you're taking full advantage of your Grant program as well as finding the best deals availables.