SETH 5 Star Texas Advantage Program
SOUTHEAST TEXAS HOUSING FINANCE CORPORATION
This is designed to help homebuyers with the purchase of a home. The program provides a Grant and the funds can be used for the down payment and closing costs associated with purchasing a home. With this program you choose between three program options of 3%, 4%, and 5% then select the amount of assistance your need. This program can be combined with local Down Payment Assistance and Mortgage Credit Certificate (MCC) programs.
AM I ELIGIBLE?
- No “first-time homebuyer requirement”
- Must qualify for a mortgage loan with a participating lender
- Buyers are required to complete the online SETH Homebuyer Education Class
- Home must be located in program area with maximum sales price of $250,000
- Buyers annual income not to exceed the limits based upon home location (currently $76,590 except Brazoria county which is $87,170)
ASSISTANCE:Assistance is provided in the form of a gift. The maximum amount of assistance is 5% of the loan amount. There is no repayment expected for the Grant received.
HOMEBUYER EDUCATION:All buyers using the SETH program are required to complete a online homebuyer education class. The class is divided into several segments and can be completed at your convenience.
The curriculum covers many topics including shopping for a home, understanding the loan process and what to expect as a new homeowner.
The cost is $100 for one person and $60 each for multiple borrowers. The class is provided in English and Spanish.
THE MORTGAGE LOAN:Homebuyers must obtain a mortgage loan from a participating lender. All loans are 30 year term fixed rate FHA, VA, or Rural Housing Services (RHS) loans. This program does not charge a discount point and there is no federal recapture provision. Borrowers are not required to obtain a home inspection, but are encouraged to do so for their own protection.
For more info see the SETH website.
HARRIS COUNTY DOWN PAYMENT ASSISTANCE
|Downpayment Assistance Program (DAP)
Building Better Communities Throughout Harris County
The Community Services Department Downpayment Assistance Program (DAP) can financially help you purchase your dream house in Harris County, if you are income eligible and a first-time homebuyer.
Harris County Downpayment Assistance Program (DAP) Guidelines:
Down Payment Assistance ProgramsCity of Houston Assistance Programs
Harris County Community and Economic Development Dept.
Harris County Housing Resource Center
Houston Housing Finance Corporation
Partners In Charity
The Nehemiah Program
US Department of Agriculture
Texas Department of Housing and Community Affairs
Texas Homes Programs
Texas State Affordable Housing Corporation
Texas Veterans Programs
Affordable Housing AssociationsBankrate.com
City of Houston Housing & Community Development
Mortgage Bankers Association of America
National Association of Hispanic Real Estate Professionals
The Texas Affiliation of Affordable Housing Providers
Southeast Texas Housing Finance Corporation
U.S. Department of Housing and Urban Development (HUD)
Veterans Affairs Programs