Areas in blue are considered “Targeted” areas by the TDHCA, all other areas are considered “Non-Targeted” areas. Other Texas areas listed below…
View TDHCA Bond 77 Map in a larger map
For a quick Loan Quote or to check TDHCA Bond 77 Loan Eligibility information for other areas in the State of Texas, please fill out the form below and we’ll be happy to check on it for you!**
** Please note: We cannot lend amounts less than $60,000 or on Manufactured Housing (Mobile Homes) or more than 10 acres of land.
TDHCA Bond 77 Program Details
The TDHCA (Texas Department of Housing and Community Affairs) has rolled out a new bond program to assist buyers with their down payment when purchasing a home. “Bond 77″ is it’s largest financing allotment to date and is an incredible 500 Million in funds, released monthly in 50 million dollar increments. This program comes just in time to fill the void left behind by the Federal $8,000 home buyer tax credit which expired April 30th. With liberal income limits and availability to both existing home buyers and first time homebuyers alike, this affordable alternative for down payment assistance will surely be a hit. Below I have listed some of the major details – for more information feel free to email me at John.McClellan@SupremeLending.com or simply fill out the form above.
Do you qualify?
- Targeted areas (Location determine using Census Tracts, use our maps above)
- 1-2 persons = $87,960
- 3+ persons = $ 102,620
- Non- targeted areas
- 1-2 persons = $73,300
- 3+ persons = $84,295
- “Income” is defined as: the sum of the current monthly income of the mortgagors and anyone both living in the property and listed on the Deed.
- “Targeted Areas” are defined as: a census tract in which 70% or more of the families have incomes that are 80% or less of the statewide median income or an area of chronic economic distress, see maps above.
Property Price limits:
- Targeted areas: $316,177
- Non- targeted areas: $258,690
- Targeted areas: First time home buyers OR previous homeowners
- Non- targeted areas: First time homebuyers only
- Choose either below market interest rate OR 5% down payment assistance
- No interest, no payments, note balloons in year 30
- NOT for investment properties, vacation homes, apartments, etc.
We can help you with any questions you might have and and also feel free to watch the webinar on the TDHCA Bond 77 loan program. The webinar goes into great detail on all the particulars of this program!