To help Houston overcome the effects of the housing crisis, the City of Houston is partnering with Wells Fargo banks and NeighborhoodWorks America to present NeighborhoodLIFTSM, a program designed to help communities attract qualified, prospective homebuyers to neighborhoods struggling with high inventories of unsold homes. The Neighborhood LIFTSM program is available for homebuyers to use at Avenue Place located just north of downtown off I-45 on 12 acres of land. Ninety Five new single family homes will be … [Read more...]
HUD giving $151 million to 4 zones around Houston
More than 3½ years after Hurricane Ike, HUD announced May 9, 2012 that $151 million in federal disaster relief money is on the way to four areas of Houston to rebuild or repair homes and apartments. Housing officials have chosen to channel the money to Acres Homes, Independence Heights, a northeast Houston crescent centered around the Fifth Ward, and Sunnyside/South Park/South Union in hopes of contributing to neighborhood redevelopment, as well as fixing individual homes. Mayor Parker said she consulted Texas … [Read more...]
Leland Woods Subdivision
Leland woods was created as reinvestment zone number twenty two for the purpose of development within the area of the city generally referred to as the Leland Woods area. The purpose is to provide at least partial funding for new basic infrastructure (water, sanitary sewer, storm sewer, streets, major thoroughfare sound barriers, and public open space/recreation facilities for a new affordably-priced, single-family residential subdivision in northeast Houston that will consist of 373 … [Read more...]
USDA Program
One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of "no-money-down programs" evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural Development home loans. Helps Homebuyers in Rural Harris County Guaranteed by the USDA (United States Department of Agriculture), this program might make you think that you have to buy farmland or live "in the … [Read more...]
The Dream Makers Program
$5,000 Grants for First-Time Military Buyers. Active duty personnel, veterans, retired members of the military, and employees of the U.S. Department of Defense and the Department of Homeland Security are eligible to apply for up to $5,000 in down payment and closing costs in the purchase of a first home. The national nonprofit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and says the grants can be applied to a mortgage from any financial institution. How Do I … [Read more...]
Planning for Home Ownership
1. Determine how much house you can afford. What is your gross annual income? How much outstanding debt do you have? What is your credit score? If you do not know your credit history, request your credit report. 2. Determine eligibility for down payment assistance. Attend a Homebuyer’s Education Class. Which program is best for you? 3. Meet with a lender to pre-qualify for a mortgage loan. If not mortgage ready, work on existing credit score and reducing debt. 4. Call Bill Edge at … [Read more...]
HAP Houston Assistance Program
HAP Homebuyer Assistance Program The City of Houston (City) Housing and Community Development Department (HCDD) has designed the Homebuyer Assistance Program (HAP) to provide financial assistance to low-to-moderate income homebuyers in the incorporated area of the City. HCDD staff will administer the HAP according to the policy and procedures set forth in the administrative guidelines. (add link to Administrative Guidelines) Funding for HAP will be available through the HOME Investment Partnerships (HOME) … [Read more...]
Harris County Assistance Program
Downpayment assistance is available to qualified buyers for homeownership. The minimum requirements for the Harris County Downpayment Assistance Program: DAP: $14,200 for new construction, $9,500 for resale properties built within the current ten (10) years. You must live in the house for five (5) years, which is the affordability period. DAP for disabled borrowers: $14,400 for new construction and $14,400 for resale properties built within the current ten (10) years. You must live in the house for five (5) … [Read more...]
HOYO – Mortgage help for the Disabled
Housing Initiative Homeownership is as desirable for people with disabilities as it is for anyone else in America, yet it is estimated that less than one percent of Americans with disabilities are homeowners versus sixty-six percent of those without disabilities. Currently through the Home of Your Own Program (HOYO), UCP is closing on 10-20 homes per year for individuals with disabilities who are low income and first time homebuyers. Home of Your Own (HOYO) Program Services: Down payment assistance for … [Read more...]