City of Waco Down Payment & Closing Cost Assistance Program
City of Waco Down Payment & Closing Cost Assistance Program
Program Category
Down Payment Programs
Max Amount
Up to $25,000
Contact Info
Priscilla Ard or Susan Holt 254-750-5670
Program Details
Buyer contribution type
$
Income calc method
Compliance Income
First mortgage types
Freddie Mac,Freddie Mac Home Possible,Fannie Mae,Fannie Mae HomeReady,FHA 203(b),VA
First mortgage terms
Fully Amortizing,Fixed Rate,30-year
Property types
Single Family Detached, Condo, Co-Op, Townhome/PUD, Manufactured Home
Repayment triggers
Sale of the home
Loan Forgiveness
Fully
Program Guide
Summary:
https://www.waco-texas.com/Departments/Housing/Homebuyer-Down-Payment-AssistanceApplication:
https://portal.neighborlysoftware.com/WACOTX/ParticipantLimitations
Property must be newly-constructed or existing home within the City of Waco.
Single Family Max Purchase Price New Home $243,000 - Existing $186,000 See program guidelines for 2-4 unit max sales prices.
Tax and insurance escrow required.
May not be used to pay existing tax liens or municipal assessments
Interest rate on first mortgage no more than 2% higher than market, unless approved by loan committee
Single Family Max Purchase Price New Home $243,000 - Existing $186,000 See program guidelines for 2-4 unit max sales prices.
Tax and insurance escrow required.
May not be used to pay existing tax liens or municipal assessments
Interest rate on first mortgage no more than 2% higher than market, unless approved by loan committee
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