Texas Lone Star Lending Video
Only 1% Down Payment?
In this week's 5-Point-5, we'll learn about a special program for first-time homebuyers to buy a home with as little as 1% down.
Trouble viewing the video? Watch it on YouTube.
Read the transcript
In this week's 5-Point-5, we'll learn about a special program for first-time homebuyers to buy a home with as little as 1% down.
1st point: $4000 grant
Eligible homebuyers receive up to $4000 to cover up to 2% of their down payment. The minimum down payment is 3%, so that leaves only 1% for you.
2nd point: Still need more help?
You can use gift funds to cover the remaining down payment and closing costs.
3rd point: Available everywhere
Unlike a lot of grant programs, this one has no geographic restrictions. It's available everywhere.
4th point: Owned a home before?
A first-time hombuyer is anyone who hasn't owned a home in the last 3 years, so you still qualify if you owned a home more than 3 years ago.
Last point: Moderate income limits
The program targets low-to-moderate income homebuyers, those whose income is no more than 80% of the median income in their area.