Down Payment Assistance Program

downpayment

HOMEOWNERSHIP – “THE AMERICAN DREAM” DOWN PAYMENT AND CLOSING COST ASSISTANCE AVAILABLE NOW!

The Rockwall Housing Development Corporation has funds available on a first-come, first serve basis to assist low-income homebuyers purchase a home within Rockwall County. Qualified homebuyers can receive up to $20,000 in a deferred, 0% interest second lien loan to help pay for down payment. This Program is being managed by Hunter & Hunter Consultants, Inc.

DO YOU QUALIFY?

Your household income must not exceed the income shown on the chart below:

Family Size

1

2

3

4

5

6

7

8+

Maximum Income $37,800 $43,200 $48,600 $54,000 $58,350 $62,650 $67,000 $71,300

 

  • You must obtain a fixed rate, first lien mortgage and complete an approved homebuyer training course
  • Mortgage loan must have a fixed interest rate. Subprime loan products, Adjustable Rate Mortgages and Balloon Notes are not allowed. Loan to Value ratio must be at or below 100%
  • Permanent interest rate buy downs are allowed
  • You must purchase a home located within Rockwall County
  • The sales price limit for an existing home is $146,000 and$195,000 for a newly constructed home. Each home must pass a Housing Quality Standards inspection
  • Monthly mortgage payment (including PMI) must not be less than 20% of the total household monthly income calculated on a 30 year fixed rate basis. Mortgage payment and monthly debt must be no more than 45% of total household income.
  • You make no monthly payments on the up to $20,000* loan and, if you live in the home for ten years,* the loan will be FORGIVEN

CALL US! WE CAN HELP WHEN YOU BUY YOUR NEW HOME!

0%* RATE – 0%* APR
For more information, contact
Michael Hunter
NMLS Unique Identifier # 215970
Hunter & Hunter Consultants, Inc.
220 W. Quail Run Road, Rockwall Texas 75087
NMLS Unique Identifier # 270921
(972) 771-5907 or at michael@hunter-hunter.com
*For loans ranging from $1,000 to $14,999, the loan will be a 5 year fixed rate, deferred forgivable loan. For loans ranging from $15,000 to $20,000, the loan will be a 10 year fixed rate, deferred forgivable loan.

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