Down Payment Assistance

BVAHC offers Down Payment Assistance in the form of a 0% interest, deferred, second lien to qualified buyers.

Equal Housing Opportunity Lender

 Eligibility

You are eligible to receive down payment assistance if:
  • Your household income is less than 80% of the median income adjusted for household size in the county you wish to purchase a home.
  • You are looking for a home within Brazos, Burleson, Grimes, Leon, Robertson, Madison, Washington counties but outside the city limits of Bryan/College Station.

To Apply

1.      Download, print, and complete the following application:
**DPA Application**
2.      Mail the completed application(s) along with:
       Copies of :
•      Social Security Cards (front and back) of ALL household members
            •      Drivers Licenses
            •      Last two years income tax returns with W-2 forms
            •       Child Support Documents
to Down Payment Assistance, BVAHC, P.O. Drawer 4128, Bryan, TX 77805.
After receiving your application, a BVAHC representative will contact you.

Other criteria include but are not limited to decent credit, ability to apply at least $500 of your own funds to the purchase, completion of pre-purchase home buyer counseling workshop, ability to qualify for a traditional loan, occupy home as primary residence, and condition of home.

Terms

Assistance is in the form of a 0% interest, deferred, second lien.  The loan is interest free as long as there are no violations to the terms of the loan.  Borrower must maintain the property as their primary residence and abide by all terms and conditions of the program, and first lien note.  If the borrower sells, refinances (including home equity loans), or transfers the property or any other interest therein (including a beneficial interest) from the borrower to any other person or entity, or is in violation of program guidelines, the full amount of assistance shall become due and payable.

Opportunity Finance Network

www.opportunityfinance.net
 

Opportunity Finance Network