First-time Home Buyer Program Flyer
First-time Home Buyer Program
We appreciate your interest in our first-time home buyer program flyer! We believe in making first-time home buyer options affordable and accessible.
Lower interest rates on first-time homebuyer programs increase accessibility to homeownership for individuals who may have limited credit history or lower credit scores. These programs often have more lenient eligibility criteria, making it easier for first-time buyers to qualify for a mortgage and purchase a home.
Also, lower interest rates on first-time homebuyer programs increase accessibility to homeownership for individuals who may have limited credit history or lower credit scores. These programs often have more lenient eligibility criteria, making it easier for first-time buyers to qualify for a mortgage and purchase a home.
One of these programs is the First-time home Buyer FHA program that we are excited to offer. Click this link to download:
A First Time Buyer FHA program. 30yrs fixed. 5.625%. Zero Points.
- One borrower must be a First Time Home Buyer.
- FHA only
- One borrower must take a Home Buyer Education
- No non-occupant co-borrowers
- Minimum FICO= 620
- It is income-restricted and total household income is computed (even if someone is not on the loan). Income limits differ by county. For the 5 County Austin area:
- 1-2 member household= $116,800
- Greater than two member households $134,320
- House price maximum $582,624 (note: there are some targeted census tracts where we can go to $712,097. House price maximum differs by county.
- Single Family and Condos only (condo must be FHA approved)
- Temporary buy-downs are not allowed
- Program and rate can be discontinued at any time
- Texas only
Joel Richardson is an FHA-approved lender. Send us your questions!
