30 YEAR FIXED
Low Fixed Rates For 30 Years
30 YEAR FIXED
Minimum of 3.5% Down
30 YEAR FIXED
100% VA Loan With No Private Mortgage Insurance
30 YEAR FIXED
100% Financing In Rural Areas
First-Time Home Buyer in Allen, Texas
For a first time home buyer Allen offers a wide range of housing choices to fit any pocketbook. Home ownership is the American dream but finding the right home in the right neighborhood at the right price can be a challenge. And then, you need to get financing with a mortgage rate that does not eat up all of your paychecks. Luckily, if are worried about the down payment as a first time home buyer Allen offers ways to make it work for you.
Allen First Time Home Buyer Programs
There are programs in the Allen area to help first time home buyers. The first to consider is HCDD which is Allen’s Housing and Community Development Department. This program offers assistance via HAP, the Home-buyer Assistance Program in Allen. It helps families in the low and middle-income range. For those who qualify, monies can be used for the down payment, buy-down on principal, or closing costs.
Housing and Community Development Department of Allen HAP Program
For US citizens and permanent US residents, the HAP program can help if you are a first time home buyer or have not been a homeowner for at least three years. Also, to qualify the family must not have more than $15,000 in total assets. Only fixed rate mortgages qualify for this program. Folks can get as much as $30,000 from this program if they meet the qualifications such as falling below the 80% level of median income in the Allen area and buying a home that lies within the City of Allen for tax purposes.
Affordable Housing Corporation of the State of Texas
Also, for a first time home buyer Allen has a non-profit organization that can help out. It is TASHA or the Texas State Affordable Housing Corporation. These folks have the mission of serving low-income families and individuals by helping them get into affordable and decent housing. They commonly come into the picture when other agencies cannot help.
Using private donations, TSAHC provides help with down payments, mortgage loans, and mortgage credit certificates. Their Homes for Texas Heroes Loan Program is especially for veterans, EMS workers, teachers, firefighters, correctional workers, and police. And, their Homes Sweet Texas Home Loan Program provides a 30 year fixed rate loan for eligible Allen home buyers. This is a grant, so the family does not need to pay it back.
Free Homebuyer Education Classes in Allen
Perhaps the most important thing for a first time home buyer in Allen is to their homework. An excellent idea is to take advantage of one of the classes for home buyers in the Allen area. Learn about how large of a mortgage you should take on with your salary. Learn about the various assistance programs that make home ownership possible for those who otherwise could not afford their own home. Do your homework first. Look into financing before even looking at property. That is a good route to take for a first time home buyer in Allen or anywhere.
Best Mortgage Rates in Allen Texas
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