Texas Affordable Housing Specialist Bill Edge has been helping homeowners buy homes with the help of SETH for many years. First time buyers have found that our company takes the worry out of dealing with another governmental agency. As a homebuyer all you have to do is take the 8 hour education course, we will take care of the rest for you.
To see if you are eligible for assistance contact Bill Edge at 713-240-2949.
SETH Single Family Bond Program-
The new SETH Single Family Mortgage Revenue Bond Program is designed to help low-to moderate-income homebuyers purchase a home. All mortgages are fixed rate 30-year loans. Borrowers must occupy the home as their principal residence.
The Mortgage Loan-
Mortgage Rate; 4.75% with Assistance
4.25% Unassisted
Origination Fee 1.00%
The flowing loan types are accepted: FHA, VA, and USDA (Rural Housing Services)
Assistance-
Assistance is provided in the form of a grant in the amount equal to 3% of the loan amount. There is no repayment expected for the grant. The grant is restricted to only first time homebuyers.
Am I Eligible?-
- Buyers do not need to be first time homebuyers except in Matagorda, Waller, and Wharton counties.
- Must quality for a mortgage loan with a participating lender
- Buyers must attend SETH homebuyer Education Class
- Family income must be under the income limits listed below.
Maximum Income Limits:
Location: 1-2 Family Members 3 or more
Austin County $71,040 $82,880
Brazoria County $88,080 $102,760
Matagorda County $61,560 $71,820
Walker County $70,320 $82,040
Waller County $67,309 $77,406
Wharton County $60,960 $71,120
Other Program Areas $78,120 $91,140
Program Areas:
Home must be located in the counties of Austin, Brazoria, Chambers, Liberty, Matagorda, Walker, Waller, and Wharton
Or the city limits of:
Baytown, Deer Park, Dickinson, La Marque, La Porte, League City, Pasadena, Santa Fe, Shoreacres, Texas City, and Tomball.
Assistance is provided in the form of a grant in the amount equal to 3% of the loan amount. There is no repayment expected for the grant. The grant is restricted to only first time homebuyers.
Source: Southeast Texas Housing Finance Corporation