Real Estate Financing Getting Easier in Texas
If you make your living with a Texas real estate license, you now have something to smile about. The tough task of financing a home has just gotten a little bit easier for potential Texas home buyers. First time home buyers will benefit from three new programs introduced during National Home Ownership Month. The Texas State Affordable Housing Corporation has introduced the Home Sweet Texas Loan, Homes for Texas Heroes, and the Professional Educators program to make it a little bit easier to clear the hurdles that can many times stand in the way for people that want to buy their first home.
The programs will not only offer reduced interest rates to first time home buyers who meet the qualifications, they will also offer assistance with down payments as well as closing costs. In order to meet the qualifications for the programs you must be a first time home buyer living at or below 80 percent of the median family income in the area in which you wish to purchase. Additionally you must be a resident of the state of Texas purchasing what is to become your primary residence.
With interest rates and pricing at record lows, financing appears to be the most challenging obstacle that is standing in the way of many people who would love to become homeowners but need a little help with the out of pocket costs like closing costs or down payment money. These programs will help get qualified home buyers off the fence and to a closing table.
Successful real estate agents and brokers know that above and beyond their real estate training they need to know about any available incentive programs that could make closing the sale easier for the homeowner. Knowing about any assistance available to homeowners in your area is crucial to remaining successful in a tough economy. Those real estate professionals with knowledge of any financing programs or available closing cost or down payment assistance programs will be in a much better position to help a greater number of buyers take advantage of the current market affordability.
Historically low interest rates and rock bottom home prices have made this a buyer’s market, but the difficult lending standards are having an effect on their ability to buy. These programs available to first time home buyers will make it easier to earn a living with a Texas real estate license.
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