Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-13-2007, 01:46 PM
 
34 posts, read 216,249 times
Reputation: 32

Advertisements

Hi,

i am in the process of buying my first home and wanted to know what kind of first time home buyer programs/grants are offered and also which ones are better then others. My home is still getting built and the closing date is sometime at the end of Dec of 2007. I currently live in NW Indiana and my new home will be near Houston (Katy Cinco Ranch to be exact). I am currently in the interview stage for employment out in that area. The home is around 180k and i will probably be making around 50k a year up untill my fiancee finishes her student teaching and gets hierd as a elemenatry teacher sometime in August of 2008 in which case our income would be close to 100k. Can anyone explain to me what type of first time home buyer grants and programs are out there for people like my fiancee and myself. Is there any assistance offered for downpayment, lower ineterst rate?? What do i do in order to get it and who do i contact. Also do i have to pay back the money given to me at some point in time? Oh by the way my credit score is somewhere in the 770's. Thank you in advance

Last edited by QKIBO83; 11-13-2007 at 02:00 PM.. Reason: forgot to mention
Reply With Quote Quick reply to this message

 
Old 11-13-2007, 03:31 PM
 
Location: San Antonio-Westover Hills
6,884 posts, read 20,318,773 times
Reputation: 5175
I would wait to buy your house until your fiancee becomes your wife, and also becomes a teacher. There are very good federal housing assistance programs for teachers in this country. Go to Homes and Communities - U.S. Department of Housing and Urban Development (HUD) to research.
Reply With Quote Quick reply to this message
 
Old 11-13-2007, 03:48 PM
cj6
 
25 posts, read 144,581 times
Reputation: 25
The area you are buying into, the price of the home, your income, your profession, etc. are all factors that would determine what programs, if any, you might qualify for. Down payment grants, low interest loans, etc. are funded at different times, through different agencies and the criteria will vary for each and every one. Do yourself a HUGE favor and contact a HUD approved home buyer counseling agency (links are available on HUD's website). The counseling agencies will know what programs are available in your particular area and which, if any, you would qualify for. Most legitimate grant and/or low interest rate programs will require a HUD approved home buyers certificate regardless. The certficate is obtained by attending an 8 hour class, which is free, so that's where I would recommend you start. Even if you don't qualify for any grants, the certification often qualifies people for discounts on thier closing costs.

The counseling agencies can also review any programs that your loan officer, builder, or real estate representive offer you. They usually have the means to determine if a program is legit or not. While there are some really great programs in the state, beware of anything that sounds "too good to be true" - apparently Texas has some of the highest rates of No Down/Low Down scams going on.

Good luck with your move, and Welcome to Texas!

Last edited by cj6; 11-13-2007 at 03:57 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top