ADDRESS

Round Rock, Texas

Home Buying Resources

The biggest myth in real estate is that you need a 20% Down Payment to buy a home. This is definitely not true. There are conventional loans with a 3% down payment requirement and the state of Texas has programs with zero down payment. It all depends on the government programs you may be qualified to use.

There are various programs available to help people in different situations including: first-time home buyers, low income buyers, veterans, teachers, and first-responders. Even high income and luxury home buyers can qualify for certain low down payment conventional loans. Anyone can qualify for USDA loans if the home is located in a qualifying suburb or rural area.

My Goal as Your Realtor®

My goal as your Realtor® is to help you buy a home if you would like to become a homeowner. There are so many home buying resources and low down payment plans available. I know it can be confusing. I have a team who can help you find the best way forward. We can help you build your credit, get financial assistance if necessary, and find the best home that fits your needs. I’ll help you find a home to rent while you get ready to buy.

First Time Home Buyers

MY FIRST TEXAS HOME

Loans available to any Texan who has not owned a home in the last 3 years. Down payment and closing cost assistance. Tax credit available.

Features

  • Available to first time homebuyers, veteran or a homebuyer who has not owned a home within the past three years
  • 30-year fixed interest rate mortgage loans
  • Down payment assistance and closing cost assistance up to 5% of the loan amount
  • Available to qualified home buyers from all professions
  • Available statewide through a network of participating lenders
  • Government Loans (FHA, VA, USDA) and Conventional (FNMA HFA Preferred) loan products
  • Option for dollar-for-dollar reduction on federal tax liability through the Department’s Texas Mortgage Credit Certificate Program*
    * Available to first time homebuyers only. Buyers can maximize their benefits when they combine a Texas Mortgage Credit Certificate with a mortgage loan!

Eligibility

  • First time homebuyer, veteran or a homebuyer who has not owned a home within the past three years
  • Income limits apply
  • Purchase price limits apply
  • Minimum credit score of 620
  • Other requirements may apply

HOMEONE LOANS

3.5% FHA-INSURED HOME LOANS

The Federal Housing Administration (or FHA) provides mortgage insurance on loans made by approved lenders. With its 3.5% down payment requirement, FHA loans are popular with 1st time home buyers. Borrowers must meet certain credit, debt, and income requirements including proof of employment. Home must be the borrower’s primary residence. Note that some lenders have additional requirements.

Low Income Home Buyers

HOME POSSIBLE® LOAN

The Freddie Mac Home Possible® mortgage offers more options and credit flexibility than ever before to help your very low-to moderate-income borrowers attain the dream of owning a home.

In addition to its down payment requirement of as little as 3%, Home Possible now offers more options to responsibly increase homeownership for more of your borrowers. Co-borrowers who do not live in the home can be included for a borrower’s one-unit residence, borrowers are permitted to have another financed property, and more –all with competitive pricing and the ease of a conventional mortgage.

HOMEREADY® LOAN

  • Ideal HomeReady Borrowers
  • Low income
  • First-time or repeat homebuyers
  • Limited cash for down payment
  • Credit score ≥ 620; borrowers with credit scores ≥ 680 may get even better pricing
  • Supplemental boarder or rental income
  • Looking to purchase or refinance
  • Required down payment 3%
  • Cancellable mortgage insurance*
  • Free from geographic restrictions on loan amounts

MY CHOICE TEXAS HOME

Home loans, down payment assistance and closing cost assistance for Texas home buyers of all professions

Features

  • NO first time home buyer requirement!
  • 30-year fixed interest rate mortgage loans
  • Down payment assistance and closing cost assistance up to 5% of the loan amount
  • Available to qualified home buyers from all professions
  • Available statewide through a network of participating lenders
  • Homebuyers can choose to use low rate government-backed Loans (FHA, VA, USDA) or a conventional (FNMA HFA Preferred) loan product.

Eligibility

  • Available to qualified home buyers from all professions
  • Income limits apply
  • Purchase price limits apply
  • Minimum credit score of 620
  • Other requirements may apply

HOME SWEET TEXAS

Features

  • A 30-year fixed interest rate mortgage loan, several rates and loan options available
  • Down payment assistance (DPA) provided as a grant (never needs to be repaid) or forgivable second lien loan.
  • Down Payment Assistance available for up to 5% of the loan amount

Eligibility

  • You do not have to be a first-time homebuyer
  • Income limits vary by county. Expanded income and purchase price limits available in targeted areas.

LOCAL PROGRAMS

Veterans

TEXAS VETERAN HOME LOANS

To qualify, homes must meet the following requirements:

  • The home must be the Veteran or Military Member’s primary residence in Texas.
  • The home must be a single family attached or detached home, townhome or condominium.
  • Duplexes or other multi-family units must have been constructed at least five years prior to the closing date of the loan.
  • New homes must have either ENERGY STAR certification or HERS Index score of 75 or less.
  • The home must remain the Veteran or Military Member’s primary residence for at least three years, and the Veteran or Military Member borrower must occupy the home within 60 days after loan closing.

To be eligible for VLB programs, Veterans, Military Members and their spouses must be:

  • At least 18 years of age.
  • A bona fide and legal resident of Texas on the date of application and meet one of the following service criteria:
    • An active duty Military Member.
    • A member of the Texas National Guard.
    • A reserve component Military Member having completed 20 qualifying years for retirement.
    • A Veteran having served at least 90 active duty days unless discharged sooner due to a service-connected disability and not discharged dishonorably.
    • A surviving spouse of a Veteran listed as missing in action or whose death was service-connected.

TEXAS VETERAN LAND LOANS

Veteran Land Board provides financing on tracts up to $150,000 with a minimum five percent down payment and a fixed-rate 30-year loan term. The five percent down payment is subject to credit approval. Veterans must meet the same requirements as the home loan program above.

VA HOME LOAN

Teachers & First-Responders

HOMES FOR TEXAS HEROES

The Homes for Texas Heroes Home Loan Program provides home buyer assistance specifically to teachers, police officers, firefighters and EMS personnel, corrections officers, and veterans.

ELIGIBLE PROFESSIONS

  • Teachers
  • Police Officers
  • Firefighters and EMS Personnel
  • Corrections Officers
  • Veterans

PROGRAM BENEFITS

  • A 30-year fixed interest rate mortgage loan, several rates and loan options available
  • Down payment assistance (DPA) provided as a grant (never needs to be repaid) or forgivable second lien loan
  • DPA available for up to 5% of the loan amount
  • You do not have to be a first-time homebuyer
  • Income limits vary by county. Expanded income and purchase price limits available in targeted areas.

LOCAL PROGRAMS

Conventional Loans

CONVENTIONAL 97

 

USDA Home Loans