Are You a College Station Home Buyer?
Then you’ll probably be interested to know that The City of College Station Community Development has a Down Payment Assistance Program (DAP) The amount available for down payment assistance has now been increased to up to $10,000 on most homes.
This assistance is available to families earning up to 80% of the Area Median Income. Qualified homebuyers can apply for a second lien loan – deferred and at 0% interest – of up to 15% of the home’s sales price.
Call Michelle “Myke” Leatham of Brazos County Realty
The Texas Department of Housing and Community Affairs is offering $45 million to consumers through its first-time homebuyer program. Reach her at 979-693-0201 or email her at [email protected].
College Station Home Assistance Programs
- Call Community Services: 979-764-3778.
- 511 University Dr. East in College Station.
- Open from 8:00 a.m. until 5:00 p.m., Monday – Friday.
In order to better serve the community, appointments are available after regular office hours.
Bryan Home Buyer Assistance Program
CONTACT COMMUNITY DEVELOPMENT SERVICES Mon-Fri 7:30 a.m. to 500 p.m.
405 West 28th Street
Bryan, Texas 77803
Phone: (979) 209-5175
Fax: (979) 209-5184
- City of Bryan Home Buyer Assistance Program
- Down Payment and Closing Costs Application
- Program Info and Income Limits
Through this program, administered by the city’s Community Development Services Department, eligible 1st time home buyers in Bryan, TX who apply may receive assistance of up to $7,500. This can be in the form of a 5-year, 0% deferred and forgivable loan.
Eligibility requirements include the following:
- All household members must provide proof of citizenship or permanent legal resident alien status.
- The property must be within the city limits of Bryan.
- Applicants must procure their own mortgage financing for the purchase.
- An earnest money contract on an eligible property must be provided prior to application.
- Applicants must complete home buyer counseling.
- The buyer must contribute a minimum of $1,000 toward the purchase.
- The property and applicant must meet all applicable federal eligibility guidelines.
- Homebuyer Assistance will not be provided on homes built prior to 1978 which have been determined by staff or a property inspector to have deteriorated paint unless and until the property has undergone Lead Hazard Reduction and Clearance as prescribed in 24 CFR35 to include Paint Stabilization, Safe Work Practices, Clearance Inspection, Clearance Laboratory Testing, and has a satisfactory Clearance Examination Report.
- The applicant’s household income must not exceed 80% of the area median income.
- Maximum allowable top and bottom qualifying ratios are 33% and 43%.
- Other requirements may be required by the participating mortgage lender.
Assistance will be provided on a first come, first serve basis to eligible and ready applicants.