Down Payment Assistance Program
We work with a public benefit corporation to offer homebuyer assistance to qualified homebuyers for the purchase of homes throughout the state of Texas except for the cities of El Paso, Grand Prairie, McKinney, and Travis County. The program offers 30 Year fixed rate loans with a maximum of 7% of the final loan amount as assistance that can be applied toward down payment and/or closing costs.
- Effective 1/1/22, the maximum purchase price limit is $492,500. Actual maximum limits vary by county throughout the state.
- Fico credit scores as low as 620 allowed.
- A homebuyer education course must be completed to qualify for assistance.
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Offering loans in Alabama, Colorado, Florida, Georgia, Idaho, Iowa, Louisiana, Oklahoma, Oregon, Pennsylvania, Virginia, Texas and Washington.
Why Use Our Services?
Make a Smart Move
PROPERTY TYPES
FHA/VA/USDA
HFA Advantage
Condominiums
Townhouses
PUDS
Manufactured Homes are Not Allowed
CONVENIENCE
Multiple Loan Options Available
Quick Decisions
Quick Closing
No Unnecessary Red Tape
“Football’s hard.
Growing your Porfolio doesn’t have to be.”
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Former Pro Football Player & Coach
QUESTIONS?
Call 1-877-405-3465
Down Payment Assistance Structure
This assistance is structured as a second loan with 3, 7, or 10 year terms with principal deferred and no accrued interest. This is not a bond loan.
Forgiveness periods:
3 Year Term
Forgiven in full on the maturity date of 3 years. This is available for government loans only (VA and FHA).
7 Year Term
Repayment obligation for the 7 year option is “forgiven” in equal monthly increments after year 2 and will be 100% forgiven at maturity of the note. This is available for both government and conventional loans.
10 Year Term
Repayment obligation for the 10 year option is “forgiven” in equal monthly increments after year 5 and will be 100% forgiven at maturity of the note. This is available conventional loans only.
Not Just Lenders - Problem Solvers!
Great Rates
Lots of mortgage lenders can offer a good rate on a conventional loan. We can too – in fact, our rates are some of the best around.
Unique Solutions
The difference? Hurst Lending finds ways to make the deal work when your mortgage needs are outside the “conventional loan” box.
Latest Blog Posts
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Rehab Loans
Does Hurst Lending offer rehab loans? Does Hurst Lending lend based on after repair value? The answer is absolutely to both! In the state of Texas, Hurst lends to real estate investors based on the after repair value (ARV) of a property that needs some updating or...
