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Mike Coble
RMLO NMLS 216200

o: (512) 288-2997
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5901 Old Fredericksburg Rd., #C103
Austin, TX 78749
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Down Payment Assistance

Home Mortgage Loan Special Programs

There are several programs available for homes located anywhere in Texas that provide funds for down payment and/or closing costs. This assistance comes in the form of grants which do not have to be repaid and/or second liens which must be paid in full when the home is sold or refinanced. The interest rates are fixed for 30 years. These programs have restrictions based on your family income, family size and the County you are purchasing in. Not all of the programs require that you be a first time homebuyer.

HEROES/EDUCATORS

Home Loan Programs provide a fixed interest rate on a 30-year FHA loan to eligible homebuyers. In addition to a fixed interest rate, these programs offer down payment and closing cost assistance, up to 5% of the mortgage loan amount, in the form of a grant.

To be eligible for this program, a homebuyer must be of a specific group:

  • Homes for Texas Heroes: A full-time paid fire fighter, peace officer, corrections officer, juvenile corrections officer, county jailer, EMS personnel, or public security officer
  • Professional Educator: A full-time Texas classroom teacher, teacher’s aide, school librarian, school nurse, school counselor, or an allied health or nursing faculty member

CURRENT, PREVIOUS, OR FIRST TIME HOMEBUYER(S)

There are home loan programs available that offer competitive fixed interest rates on 30-year FHA loans to eligible homebuyers. In addition to a fixed interest rate, these programs offer down payment and closing cost assistance in amounts ranging from 4% to 5% of the mortgage loan in the form of either a second lien or a grant. Eligible borrower(s) must meet the programs income limits and guidelines.

MORTGAGE CREDIT CERTIFICATE (MCC)

With an MCC, the qualified homebuyer is eligible to take a portion of the annual interest paid on the mortgage as a special tax credit, up to $2,000, each year that they occupy the home as their principal residence. An MCC has the potential of saving the homebuyer thousands of dollars over the life of the loan.

The program is open to those individuals and families who:

  • Meet income and home purchase requirements
  • Have not owned a home as a primary residence in the past three years
  • Meet the qualifying requirements of the mortgage loan
  • Will use the home as their principal/primary residence

The MCC is a non-refundable tax credit, therefore, the Homebuyer MUST have a tax liability in order to take advantage of the tax credit.

For more information on special programs, please contact your Premier Nationwide Lending Home Mortgage Loan Expert.

* Loan programs are subject to credit and property approval. Other guidelines may apply.

Residential Mortgage Loan Originator

Team Coble operates with one goal in mind, to provide an unparalleled level of service to our borrowers, and the real estate agents and homebuilders they work with. We want to make sure each customer receives a quality product and service they deserve in an expedited timeframe, allowing them to realize their dreams of homeownership in a fast and stress-free manner.

At Team Coble we believe in “COMMUNICATION IS THE KEY!” At the forefront of each of our customers’ home loan transaction, is an understanding that the success of each loan is dependent upon all parties understanding and being made aware of the process every step of the way. We make sure each of our customers, along with the “interested parties” (buyers agent, sellers agent, home builder, etc.), receive weekly status calls in regards to their home loan. We believe that when all parties are informed as to when the appraisal was ordered, when the appraisal is due, when the file was submitted to underwriting, estimated date of loan approval, and other milestones, everyone is in sync and there are few surprises.

Throughout the process, we will work hard to exceed your expectations. This is our promise to you.


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There are several loan options available when purchasing a home.

Down Payment Assistance

Find out more about special programs and who qualifies.

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