Rates Drop Again For Texas First Time Homebuyer Program!
By Maggie McFarland, Pearland Realtor, Homes for Sale in Pearland Texas
(RE/MAX Pearland - Maggie McFarland)
On November 5, 2010, The Texas Department of Housing and Community Affairs (TDHCA) announced that it has reduced interest rates on mortgage loans offered through its Texas First Time Homebuyer Program to historically low levels, further opening the door to safe and responsible homeownership for qualifying low to moderate income Texans. In a press release, TDHCA stated that that the interest rates on these 30-year, fixed rate mortgage loans have been set at either 4.20 percent or 4.95 percent, depending on which of two types of loans the borrower selects. Rates had previously been set at 4.99 percent or 5.74 percent, respectively. The assisted rate of 4.95 percent is available with funds for down payment and closing cost assistance, helping families overcome what are often the biggest ...
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