Mon - Fri 10:00 am - 7:30 pm / Sat Appointment Only

Down Payment Assistance Program:

Forgivable Community Second Loan to help buyers with limited funds

Government & Conventional

Are you ready to buy your dream home but still missing enough savings for a down payment? We can help!

PROGRAM UPDATE DUE TO CORONAVIRUS COVID-19: Due to recent pandemic events affecting the stability of our lives, creating uncertainty in our financial markets and thus impacting its liquidity negatively, this program is now suspended and therefore not available.


So, you make the income, can afford the monthly payment, have saved some money, but need help with down payment and closing costs?

You are in the right place. Clear Lending can help you obtain Down Payment Assistance regardless of whether you are a First Time Home Buyer or not!

The Down Payment Assistance Program provides the maximum amount of 6% based on the final loan amount in the form of a forgivable community second loan. Funds can be used toward your down payment and closing costs. Under this program, you would be able to choose amongst a 30-year fixed-rate FHA, VA, USDA, and Conventional mortgage loan, whichever you can qualify. In case you wonder about the mortgage loan you would be getting, there is no pre-payment penalty or federal recapture tax for the mortgage loan.

Please note currently Clear Lending offers this program only in the following counties:

- Harris County
- Fort Bend County
- Brazoria County
- Galveston County
- Montgomery County and,
- Liberty County

Another essential requirement to obtain our Down Payment Assistance Program is that it requires our preferred real estate office from HoustonDesignHomes.com to negotiate the purchase and, thus, the contract of the chosen house.

Our preferred agents are experienced Texas Real Estate Commission Licensed Sales Agents knowledgeable about the entire process. From the home search process to complete purchase contract documents, inspection, and closing, our agents will guide you, giving peace of mind for a successful experience. Once you apply online will provide you with a detailed explanation about the process.

The following are some essential details about the Down Payment Assistance Program:

- No First Time Homebuyer Requirement. Down Payment Assistance applicant can own another property.
- The applicant must be buying a new Primary Residence only.
- Non-Occupant Borrowers are OK.
- Property types can only be 1-4 Single Family Residence, Townhouse/Condo.
- Minimum FICO Score of 600 for the FHA and VA mortgage loans
- Minimum FICO Score of 620 for the USDA and Conventional mortgage loans.
- Maximum Sales Price on FHA Loan: $ 331,760
- Max Sales Price on VA, USDA, and Conventional Loan: $510,400
- Borrowers will need to meet maximum Program Income Limits.
- Complete online Homebuyer Education Class. The class must be completed before you purchase your home.

Do not wait any longer, and let's start the process to buy your dream home and apply for Down Payment Assistance.

If you need more information about Down Payment Assistance Programs in Houston, Clear Lending can help you. Simply complete our secure and encrypted Pre-Approval Form online, and we will contact you right away to review the best options for you.

Not all applicants will qualify. This advertisement is not an offer for an extension of credit. Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers. Programs rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice. Some restrictions may apply.

Customers Reviews:

  • Jorge Tovar • June 02, 2019

    FROM GOOGLE: Clear Lending, con Joan y su equipo, excedió mis expectativas. Desde la rapidez del proceso al ser un solo punto de contacto como realtor y lender, el conocimiento y el nivel de negociación, es una experiencia profesional y que da certeza. En todo momento Joan estuvo para contestar dudas, la comunicación es directa y al grano y sus técnicas de negociación muestran la experience que tiene en la industria. Al final, terminamos con la propiedad que tiene todo lo que buscábamos y, no solo eso, la propiedad está evaluada en $40,000 más del precio que pagamos ($40,000 in equity right from the start!). Comprar casa no es cosa sencilla y puede ser estresante, especialmente si tienes DACA; Joan lo hizo posible. Te agradezco Joan.

  • Blanca Perez • August 21, 2020

    Nuestra experiencia con Clear Lending fue sin duda una de las mejores. Al principio pensamos que era imposible comprar casa pero con la ayuda de Joan y su equipo nuestro sueño se hizo realidad. Si tienes duda llama ellos siempre estan disponibles. Incluso una amiga quien estuvo en mi caso ya obtuvo su primer casa. MIL GRACIAS!!!

  • Fernando & Araceli • January 14, 2016

    Dear Joan,

     

    I am writing you to say Thank You for making our dream come true. My family and I appreciate all the time and effort that you gave on this journey of helping us towards acquiring our dream house. We thank you for all the phone calls that you made including those at late hours, the letters that you wrote, for helping us with our credit, for all the updates, for taking the time on the negotiation to get the price to a fair point, and for going above and beyond in this process. We will definitely recommend you to anybody that is seeking help in buying their own new home. I am grateful that you were the one by our side during every step of the way.

     

    Many thanks from Fernando and Araceli.

Get Your Very Latest Rate Quote Now!

If CELL Phone number is not valid we will not email your Quote