(713) 578-2000
Douglas Croffitt Douglas.Croffitt@csd.hctx.net.
Program Details
Buyer contribution type
$
Income calc method
Compliance Income
First mortgage types
Fannie Mae,Fannie Mae HomeReady,FHA 203(b),VA
First mortgage terms
Fully Amortizing,Fixed Rate,30-year
Property types
Single Family Detached, Condo, Townhome/PUD
Repayment triggers
The purchased home under this program does not continue to be the principal residence of the homebuyer.
The homeowner has breached the terms of the program agreement.
The homeowner refinances before the affordability period ends.
Death of the last surviving homebuyer, during the period of affordability, unless the property is transferred to the homeowner's heir(s), provided the heir(s) meet the income qualifications, and agree in writing to all of the terms of the Agreement and Deed.
The loan will be in default if the borrower fails to maintain required property hazard insurance or fails to pay property taxes.