Texas TDHCA Bond 77 Zero Downpayment Program Details

TDHCA Bond 77 Mortgage Revenue Bond Program Details

On May 24th the Texas Department of Housing and Community Affairs - TDHCA released its new Single Family Mortgage Revenue Bond Program Series 77. These programs are available exclusively through Select Mortgage Banks as determined by TDHCA, to qualify for these programs you may Apply Online here or simply call (832) 303-5693.

To qualify for these programs simply call (832) 303 -5693 or you may Apply Online.

***Interest Rate is set in “LOTS”. Each lot is good for 90 days. Based on date of sale, borrower must be reserved or must wait for next Lot to be Released.

Details Common to all "Lots" or Fund Allotments

• Bond Loans are reserved not locked
• First Come First Serve– Reservations cannot be made without a complete application, signed contract AND $320 application fee made payable to TDHCA
  
• Buyer must provide 3 years tax returns (2007,2008,and 2009) soon (2008, 2009 and 2010)
  
• FHA loans only
• Owner occupied only
• Interest Rate - interest rates on this program will change every 90 days
• Non-Purchasing spouse must sign bond docs
• ALL borrowers must complete an approved Home buyer Education class - Online ok
• No cash back at closing
• Income of all parties occupying the home AND signing the deed of trust counts towards bond limits
• Additional Documentation is required
• For the most Up to Date Details on the Bond 77 and the Recapture Tax Provisions check out the program page here

Lot 1 Details - Loans Must close by 08/16/2010 - Click for more info

Lot 2 Details - Loans Must close by 09/30/2010- Click for more info

Lot 3 Details - Loans Must close by 11/15/2010 - Click for more info

Lot 4 Details - Loans Must close by 12/15/2010 - Click for more info

Lot 5 Details - Loans Must close by 01/15/2011 - Click for more info

Lot 6 Details - Loans Must close by 01/15/2011 - Click for more info

Lot 7 Details - Loans Must close by 04/01/2011 - Click for more info

Lot 8 Details - Loans Must close by 05/01/2011 - Click for more info

Future Lot Details - TBD

TDHCA Bond 77 program is an excellent way for a First Time Home Buyer to purchase a home in Texas and These programs are available exclusively through Select Mortgage Banks as determined by TDHCA, to qualify for these programs you may Apply Online here or simply call (832) 303-5693. Don't Forget our Home Buyer University Classes will better prepare you for these special First Time home buyer programs.

If you have specific questions about Income Caps, Purchase price limits or other details of the program Call our office at (832) 303-5693

Sincerely,
Henry Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach
(832) 303-5693