New Down Payment Assistance rules from the City of Houston

Bank of America back in the fold

Great news: Bank of America is now able to bring files to the City and obtain down payment assistance from the Department of Housing and Community Development.
The Department now requires an approval of the lender and of individual loan officers. Veronica Martinez is approved for Bank of America.

If you want down payment assistance, do not go to Bank of America

Bank of America is the second name on the list of approved lenders on the Department of Housing and Community Development web site.

Ready to move in

These are the two homes we have ready for immediate occupancy.
The one story home is a Carlton, the two story is a Greenbrier, with nearly 2,000 sq feet of living space.  Both have ceramic floors, 2 car garages.
Both are eligible for $30,000 ind down payment assistance, and $3,000 in incentives to the selling agent.
Call Ellie at 713 413 8300

Down Payment Assistance in Kingdom Come

Kingdom Come is officially in a LMIC area.  It is therefore eligible for an outstanding down payment assistance program.  Families may receive $30,000 in down payment assistance and have a qualified income below 120% of median:  The table below shows the maximum income based on the family size.
This is still a benefit of IKE desaster relief fund.  Hurry up, it is not going to last very long.

AMI	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
120%	54700	62500	70300	78100	84350	90600	96850	103100

HHFC bond program flyer

This program can be combined with teh City Down Payment Assistance program.  However, the two lists of  approved lenders only have Bank of America and Cornerstone in common.

Only the newly approved lenders can bring files to DHCD of Houston

FYI






Subject: Downpayment Assistance Program ALP List



DEAR AFFORDABLE LENDING PARTNER:







AS OF SEPTEMBER 30, 2010, THE CURRENT ALP LIST WILL BE DISCONTINUED



AND YOUR ORGANIZATION WILL NO LONGER BE ABLE TO SUBMIT HOMEBUYER FILES



TO THE DOWNPAYMENT ASSISTANCE PROGRAM.







THE DEPARTMENT IS IN THE PROCESS OF DEVELOPING A NEW LENDER'S LIST



AND ONLY THOSE LENDERS WILL BE ALLOWED TO SUBMIT GRANT FILES.







HOWEVER, THE DEPARTMENT INTENDS TO OFFER A NEW LENDER RFQ FOR THE



DOWNPAYMENT ASSISTANCE PROGRAM ON OR ABOUT OCTOBER 1, 2010.



YOUR ORGANIZATION MAY REPLY/RESPOND TO THE NEW LENDER RFQ IN ORDER



TO POTENTIALLY BE ADDED TO THE LENDER'S LIST IN THE FUTURE.



ONCE RELEASED, THE RFQ WILL BE POSTED ON OUR WEBSITE AT www.houstonhousing.org .







THANK YOU







Cesar Verde



Downpayment Assistance Programs



601 Sawyer, Suite 400



Houston, TX 77007



(713) 865-4290 Office



(713) 868-8379 Fax



Cesar.Verde@houstontx.gov