Bryan and College Station Real Estate News

Down Payment Assistance in Bryan or College Station

Many first time homebuyers ask about downpayment assistance or special lending programs. For the first time in years there are some new lending programs specifically targeted towards first time buyers and we will focus on those at a later time.

What you must know about downpayment assistance in Bryan or College Station

Both Bryan and College Station have downpayment assistance programs directly through the city. These programs apply to income qualified buyers who have good credit and can qualify for a loan. They are based on the number of people in the family and will loan up to $7,500 in downpayment assistance. The income guidelines are quite strict and are related to the poverty level.

These programs fund in October, so it is especially important that you be one of the first to apply. It's also important to use an agent, such as my team, that is fully qualified to participate in these programs, as there are special provisions to the contract that must be completed. For more information on this program contact us at (979)574-1084 or go to our website www.ChrisTesch.com (for those of you finding this blog independantly).

Federal help is available! For first time homebuyers the federal government will give you a tax refund that to help you buy your first home (you must repay it however!), or a primary residence if you haven't owned a home for 3 years or more. Later I'll do a complete article on the ins and outs of this program. In the meantime contact us for more information. Important You can amend your return to get your money NOW, before the interest rates rise!!!!