Capital Area Housing Finance Corporation
Down Payment Assistance
Eligible applicants include: first-time homebuyers; anyone who has not owned a home in the past three years is considered a first-time homebuyer. Veterans who were not dishonorably discharged are exempt from the first-time homebuyer qualification. Also, applicants must fall into the specified income limits as shown below:
|Maximum Family Income: (by County)||2 or Fewer Persons||3 or More Persons|
|Bastrop, Caldwell, Hays, Williamson||$73,800||$84,870|
Maximum Home Cost: 1 -Unit Residence (new or existing homes)
|Bastrop, Caldwell, Hays, and Williamson||$263,164|
|Blanco, Burnet, Fayette, Lee, and Llano||$247,032|
Size of Bond Issue: $15 million (funded via Aaa-rated, revenue bonds issued via GSE/Treasury NIBP)
Loans eligible for bond program include: fixed-rate, 30-year FHA / VA / RHS
Size of CAHFC Bond Program: $15 Million (funded by Aaa-rated, revenue bonds issued by GSE / Treasury NIBP)
Down Payment Assistance: As previously stated above, the CAHFC program provides both:
- “Assisted” loans are offer a non-repayble grant of 4 % to use for the down payment
- “Low rate” loans that do not provide down payment assistance. Borrowers who qualify for the CAHFC program are eligible to receive the assisted loans
Point Structure: In addidtion to the usual and customary fees, the mortgage lender is permitted to collect a 1.00% origination fee and a 1.00% discount point from the borrower or seller at the time of the mortgage loan closing.
If you have any additional questions regarding home mortgages, please contact a mortgage expert by filling out the form on the right or calling (512) 524-8077. You can also email Team@CandyBuzan.com.