DOWN PAYMENT ASSISTANCE PROGRAMS

Web Site : http://www.tdhca.state.tx.us/assist_homebuying.htm

Down payment assistance programs offer funds to prospective homebuyers who wish to achieve the American dream of home ownership. The funds are made available for individuals or families who may otherwise not qualify for lack of down payment or closing cost resources. Private charities are offered throughout the country and have some commonalities and differences outlined below. One main feature of the contributions is that the funds provided to buyers are a true gift/grant. No lien is recorded against the home and there is NO expectation of repayment. Grants are limited only by the appraised value of the home. There are no income limitations and no assets requirements.

Gift/Grant Fund Frequently Asked Questions:

• What is an eligible loan? Any conventional or government (FHA/VA) loan that allows gift funds for a buyer’s down payment or closing costs.
• Are the programs limited to first time homebuyers? No. Qualifying repeat home purchases qualify as well.
• What type of home can I buy? New home, existing (resale) home, duplex, triplex, condo, or town home. Any home where the seller agrees to participate in the gift program and has met the program requirements.

THE NEHEMIAH PROGRAM ®

Web Site: www.getdownpayment.com

•  The Nehemiah Program ® provides gift funds for down payment and closing costs up to 6% of the contract sales price
• No cash reserves required
• HUD approved
• No geographical restrictions
• Nehemiah recommends that homebuyers seriously consider (1) homeownership educations courses and (2) home inspections.

THE GENESIS PROGRAM

Web Site : www.thegenesisprogram.org

• Gift funds may be used for paying off debts to qualify*
  *Not available on FHA loans.
• Maximum gift: $22,500

AMERIDREAM INC.

Web Site: www.ameridream.org

• The AmeriDream Down payment Gift Program provides gift funds for down payment and closing costs up to 10% of the sale price.
• Available to purchase a single-family home priced up to $359,650 and $691,600 for multi-unit properties.
• Homebuyers must purchase their homes from builders/sellers who have enrolled their homes in the AmeriDream Program.

NEIGHBORHOOD GOLD

Web Site: www.neighborhoodgold.com

• Maximum grant amount $25,000

TEXAS CARES

Web Site : www.texascaresprogram.org

Telephone : 1-800-894-1444

• Gift funds may be up to 6% of the contract sales price
• Supported by the Texas Association of REALTORS ®
• No geographical restrictions except must be in Texas.

Home | Fannie Mae | FHA | Down Payment Assistance Programs | Texas 1st Time Home Buyers | Texas Vet Land Board