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Bond 74 – Down Payment Assistance

Great News! The Texas Department of Housing and Consumer Affairs (TDHCA) has replenished it’s Downpayment Assistance Fund for First Time Home Buyers.

Bond Program 74

The Texas Department of Housing and Community Affairs (TDHCA) recently released a new First Time Homebuyer Program (Bond Program 74) that 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%.

Borrowers will not be required to make monthly payments on the 2nd lien deferred forgivable loan; however, if they sell, refinance, transfer or otherwise dispose of or cease to occupy the residence within the 10-year period after the residence is purchased, the borrower will be responsible for the repayment of the full amount of the assistance that has not been forgiven.

There are income limits and you will need to have decent credit. Visit for more information.