The program was designed to give lower to mid-income first time homebuyers in Texas an added incentive to purchase a home.  According to the TDHCA website the program “offers a 10-year deferred forgivable 2nd lien for down payment and closing cost assistance. The amount of assistance is up to 4% of the 1st lien mortgage amount. The 30-year first lien fixed interest rate is a competitive 6.25%.”

The program requires a pre-purchase homebuyer education course and the program ends January 1st, 2010.

If you think you qualify and are interested in the Texas First Time Homebuyer Program (Bond 74),  please contact a SaveOnANewHome.com real estate agent at 1-866-560-1079 for help and to find that new dream home.