SellAustinTexas

Texas’s latest “stimulus package” is coming by way of the Texas Department of Housing and Community Affairs (TDHCA) Bond 77 Program. This is a good sign that Texas is devoted to future economic and real estate market growth. Personally, I think that all the measures – which include the infrastructure spending and assistance programs for home buyers – are great news for investors as well as first time home buyers looking to purchase property.

Those who were unable to take advantage of the tax credit offered by the federal government may now take advantage of another great opportunity locally. Texas has rolled out this Bond 77 program to assist first time and previous home buyers with their purchase of a home. Over $500 million dollars of funds have been allotted for this program.

Here are some interesting Bond 77 facts you should know about:

• The interest rate on the home loan will be locked for 30 years.
• All fees will be strictly restricted (This should make borrowers very happy).
• Bond 77 will provide borrowers with 5% towards the closing costs and down payments.
• As long as the borrower stays in their purchased home as a primary residence, the borrowers may enjoy not having to pay anything on the 5% borrowed towards a down payment or any interests payments for that matter.
• Availability of the Bond 77 program is based on a first come first serve basis.
• The Bond 77 program will terminate as soon as all funds have been used.

If you’d like more information regarding Bond 77 program or have any questions in regards to hill country property, visit our website at http://www.dmtx.com. You may also get more information from the Texas Department of Housing and Community Affairs here.

This entry was posted on Friday, May 21st, 2010 at 5:45 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.