COLLEGE STATION DPA

City of College Station DPA Programs

Down Payment Assistance

 

College Station DPA

Location Served: College Station, TX

Provider: City of College Station

Approved Lender: New American Funding – (512) 524-8077

Website

 

While some residents are looking to provide a large down payment in order to lower their monthly mortgage payments, others have not saved for a down payment and closing costs. The City of College Station Down Payment Assistance Program offers 0%, deferred, second-lien loans of up to 15 percent of the properties sales price to eligible borrowers to use for their down payment or closing costs. Qualified borrowers may apply the loan towards single family properties including, town homes and condominiums. The funding may NOT be used for the purchase of mobile homes, duplexes or quadraplexes.

 

Potential Homebuyer Criteria
Potential Home Criteria
Mortgage Lender Requirements

 

It is strongly advised that applicants complete a Down Payment Assistance application and receive approval prior to making an offer on a property. The Down Payment Assistance application and approval process typically take three weeks. Therefore, a delay in submitting the required documentation will result in a delayed closing date. Please note that final approval is not determined until the city reviews the sales contract, lender information, and inspects the home.
 

Terms

 

Down Payment Assistance is in the form of a 0% interest, deferred, second lien. The loan will remain interest free as long as the loan terms are not violated. The borrower must keep the property as their primary residence and follow all terms and conditions of the program and first lien note. If the borrower chooses to refinance, sell or any other interest therein from the borrower to any other person or entity, or is in violation of the program’s guidelines, the full amount of assistance shall be repaid.
 
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.

This website marketing is not intended to offer loan services for properties in New York.