Down Payment Assistance Programs
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Texas State Affordable Housing Corporation (TSAHC)
Supreme Lending is proud to offer a new Down Payment Assistance (DPA) program from the Texas State Affordable Housing Corporation (TSAHC). The enhanced program features a competitive interest rate and DPA to help more Texans achieve their dream of homeownership.
• 4% down payment assistance (DPA) in the form of a 3-year forgivable second mortgage
• FHA, VA, and USDA options
• No profession requirements
• First-time homebuyers and repeat buyers in targeted areas
• Must meet income limits
• Cannot be combined with Mortgage Credit Certificate (MCC)
Texas Department of Housing and Community Affairs (TDHCA)
Supreme Lending is a proud lending partner with the Texas Department of Housing and Community Affairs (TDHCA). TDHCA assists low to moderate-income homebuyers who are interested in purchasing their first home or who have not owned their legal residence on the last three years, or live in a targeted area.
This program provides up to 5% down payment.and closing cost assistance in the form of a second lien.
• Available for Conventional, FHA, VA,
and USDA 30-year fixed purchases.
• Entire state of Texas eligible.
• Minimum 620 credit score.
• Maximum 55% debt-to-income ratio.
• Attached or detached 1-4 unit
single family, PUD, Condo, or Townhome.
• Homebuyer education required.
• Household income limits and targeted area
applies. Other restrictions apply.
Contact your loan officer for more information
and restriction on TDHCA loan programs.
SETH 5 Star
The SETH 5 Star Program provides down payment and closing cost assistance and a 30 year fixed rate mortgage. Mortgage options include FHA, USDA, VA and Conventional financing. Maximum amount of assistance provided is 5% of your loan amount. Assistance is provided in the form of a forgivable community second loan, forgiven after 3 years.
This program is available in Texas but outside of Travis County and the city limits of El Paso, McKinney and Grand Prairie. Buyers must be income eligible (see below) and will be required to complete the SETH on-line Homebuyer Education Course.
- Mortgage Approval with a Program Lender
- Meet Program Income Limits
- Minimum FICO Score of 640
- Complete SETH HBE Course
- Find a home in a Program Area
SETH MyHome Plus
Our SETH MyHome Plus Program offers many different program opportunities designed to help a variety of homeowners find assistance that meets their individual needs. The maximum amount of assistance is 5% and based on the final loan amount. Assistance is provided in the form of 10 year forgivable Community Second Loan with no payments and is completely forgiven after 10 years. The program also includes a 30 year fixed rate FHA, VA, USDA or Conventional mortgage loan.
This program is available in Texas but outside of Travis County and the city limits of El Paso, Grand Prairie and McKinney.
- No First Time Homebuyer Requirement
- Minimum FICO Score of 620
- No Maximum Sales Price
- Meet Program Income Limits
- Visit sethmyhomeplus.com for complete program details
Are you ready to make a home purchase, but can’t pay a full down payment price? Supreme Lending has a financing solution that might be just right for you. Through our Supreme Dream Down Payment Assistance (DPA) program, the first mortgage would be a 30-year fixed FHA loan, followed by a second fully forgivable loan to be used toward the down payment, closing costs, and prepaids.
• Minimum Credit Score of 620
• Fully Forgivable Second Loan
• No Income Limits
• 2-1 Temporary Buydown is permitted
• Manual underwriting available
• 1-2 unit primary residence
FHA 100% Financing (Chenoa Fund)
CBC Mortgage Agency offers down payment assistance nationwide for FHA loans with the Chenoa Fund DPA program.
This program may help with the 3.5% down payment needed for FHA loans. The down payment assistance may be repayable or forgivable.
Repayable: The repayable loan has a 10-year term with an interest rate 2% higher than the interest rate on the FHA rst mortgage. This loan requires a monthly payment on the second mortgage.
Forgivable: The forgivable loan has a 30-year term with an interest rate of 0% (0% APR). This loan does not require a monthly payment on the second mortgage.
• No Income Limits!
• Minimum credit score of 600.
• Down payment assistance of 3.5% of the home purchase price.
• Do not have to be a First-time homebuyer.
• Now offering 2-1 and 1-0 Temporary Buydowns!