Heart of Texas Bond Program

Down Payment Assistance


Heart of Texas Single Family Bond Program

Location Served: Central Texas

Provider: Heart of Texas Housing Finance Corporation

To inquire if New American Funding is currently an approved lender for this DPA program, please call (512) 524-8077. This webpage is for information purposes only.


The Heart of Texas Single Family Bond Program provides below-market rate financing to homebuyers purchasing property in Bosque, Falls, Freestone, Hill, Limestone, or McLennan County. The program provides loans with or without assistance for the down payment or closing costs.

Eligibility Requirements


In order to qualify for the Heart of Texas Single Family Bond Program, the following requirements must be met:

  • Funding provided by the program may only be used to purchase a home, not to refinance.

  • The household income limit is set at $80,360.

  • The program is not for first time homebuyers only. The first time homebuyer requirement is waived for veterans and borrowers purchasing homes located in targeted areas.


Property Eligibility Requirements

If the home is located in a non-targeted area, the sales price of the home cannot exceed $258, 690. If the home is located in a targeted area, the sales price limit is set at $316, 177.
Eligible property types include:

  • Single-family detached houses

  • Condominiums

  • Town homes

  • Duplexes older than five years

  • Planned Unit Developments (PUDs)


Program Benefit Details


  • Set interest rate is 4.75% – Borrowers who agree to a 5.25% rate will receive a non-repayable grant equal to 3% of the original loan amount provided for down payment and closing cost assistance.

  • One of the major advantages with the Heart of Texas Bond Program is the below-market interest rate.

  • The loan term is 30 years.

  • Owner occupancy is required.

  • Other Program Comments: Application is made through a participating lender. Loans may be used in conjunction with the City of Waco Down Payment/Closing Cost Program.

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.