The reason for this post is to help home buyers find assistance. Now this information pertains to the Killeen, TX area but you should be able to look up any programs in your area. This is information that a lot of first time home buyers do not know but they SHOULD!
The City of Killeen has designed a housing assistance program that enables low-income individuals and families to own their own home– the City of Killeen First Time Homebuyer Assistance Program (HAP). This program utilizes federal fund-ing from the Home Investment Partnerships (HOME) Program funds, provided by the U.S. Department of Housing and Urban Development ( HUD).\
The program provides first time homebuyers with necessary assistance for down payment and closing costs and is allocated on a first-come first serve basis, through a formal application process. The program assistance is available to households, individuals or families, earning 60-80% of the Area Median Income (AMI) for the Killeen/Temple/Fort Hood area, with eligibility based upon current and anticipated annual income of all persons that will occupy the home as their primary residence. Purchases must be within the corporate city limits of Killeen.
Key Program requirements include: attending 8 hours of homebuyer education classes; obtaining a minimum of 3 hours homebuyer counseling, qualifying for a mortgage loan with a HAP approved lender; contributing a minimum of $500 to-ward the purchase of the home; confirming mortgage lender required repairs are complete; and occupying the home for the duration of the five year affordability period.
For more information on this program call Maria Barraza at 254-501-7842