Texas Home Programs provides a summary of housing-related programs for homebuyers in the state of Texas. A number of programs provide home buying assistance to individuals based on income.
The City of College Station City Council has recently approved new Down Payment Assistance Program (DAP) guidelines which have increased the amount available for down payment assistance to up to $10,000 on most homes for families earning up to 80% of the Area Median Income.
Please see the link below for the new guidelines summary along with income/household requirements and downloadable application:
Susan Sharp
Economic & Community Development
City of College Station
979-764-3778
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City of Bryan Home Buyer Assistance Program
College Station Down Payment Assistance Program
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New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts.
Below is a summary of the new modifications in the extension and expansion of the tax credit:
1) The $8,000 tax credit will be extended and available for first-time home purchases before May 1, 2010.
2) A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify for this provision, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.
3) Prospective purchasers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.
4) Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.
