|
|
Assistance to buy foreclosed homes in select areas in city of Fort worth.
A new city program provides financial assistance to income eligible homebuyers seeking to purchase lender-foreclosed homes.
The Neighborhood stabilization Down payment assistance program (DPAP) offers $25,000 of which $5,000 go towards closing costs, and $5,000 on minor repairs. Balance can be used as down payment.
Before qualifying for the DPAP program, homebuyers must first qualify for a home mortgage through a lender. In addition to the mortgage, the $25,000 from DPAP is a deferred-payment loan with no payments or interest for 10 years. If homebuyer remains in the home for 10 years, the loan is forgiven.
However, the program limit buyers of properties in only 7 zip codes of Fort Worth most affected by foreclosures. They are:76131, 76137,76133, 76123, 76179, 76112, and 76248.
All applicants are required to attend an eight hour homeownership training workshop either in English or Spanish. For more info, visit www.FortWorthGov.org/hed/housing or 817.392.7390
Good luck! To locate foreclosed properties in these zip codes, please contact us at 682.429.2559 or email julian.mijol@metrodfwrealestate.com
Thanks for visiting our website!
Welcome to our site!
Hope you will find a wide variety of useful information and resources designed to help you buy or sell a home more effectively in the Trophy Club/Roanoke areas or surrounding cities. From information on the local community, to advice about finding a mortgage or preparing your home to sell, it's all available here on our web site. We have also included a link to a Financial Advisor website for your financial needs.
Please search for your ideal home by viewing current listings with detailed descriptions and photos on the MLS Search Finder. Or you can get help determining the value of your home by requesting a report that includes the prices of similar homes that recently sold or are currently for sale in the surrounding Trophy Club areas.
So whether you're buying or selling, feel free to contact us, and we will be happy to help you with all your real estate needs.
About Making Home Affordable
The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels.
The Home Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.
A consumer website, www.MakingHomeAffordable.gov, provides homeowners with detailed information about these programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration's program. Through this website, borrowers can also connect with free counseling resources to help with outstanding questions; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their servicer as well as FAQs from borrowers in similar circumstances; and much more. Hope you will find this website informative and useful as we all work together to solve our nation’s housing crisis and put our country on the path to a lasting economic recovery.
The phones are ringing, the texts are coming in, showings at listings are happening....November 30th deadline is approaching!
City Of Fort Worth First-Time Homebuyers Closing cost/Downpayment Assistance
First-time homebuyers — or those who have not owned a home in the last three years — may be eligible for deferred payment loans of up to $14,999 to help pay closing costs and/or down payments.
Who Is Eligible?
To qualify, homebuyers must meet the following requirements:
- The homebuyers must contribute a portion of their own money — $1,000 or 2 percent of the purchase price of the home, whichever is less. Payment of the credit report, survey, and appraisal can count toward this requirement.
- The homebuyer agrees to live in the home as his or her principal residence.
- Mobile homes and government-owned homes are ineligible for this program.
- All homebuyers attend a homeownership training class conducted by the City’s Housing Department or another U.S. Department of Housing and Urban Development (HUD)-certified homebuyer counselor agency.
- This property must be located within the Fort Worth city limits.
- The property must be vacant, occupied by the owner, or rented by the person who wishes to buy the property.
- You cannot have owned a home in the last three (3) years. Displaced homemakers are also eligible.
- You or your real estate agent must provide the Seller with a "Notice to Seller" at the time a purchase offer is made. The Seller must agree to the terms and sign the Notice as part of the purchase agreement.
- The property must pass the Housing Quality Standard Inspection (HQS) and Environmental review conducted by the City of Fort Worth at no cost to the Applicant or the Seller.
- The homebuyer’s total monthly mortgage payment must be between 20 and 30 percent of the household’s gross monthly income. The homebuyer’s total debt, including the mortgage payment, must not be more than 41 percent of household income.
- The homebuyer’s combined family income must meet federal income limits by not exceeding 80 percent of Fort Worth-area median income. For example, a family of four should earn an annual income no more than $50,700 to be eligible. These income limits are updated every year. Click here for Income Guidelines (pdf)
- A five-year lien will be placed on the property, but will be forgiven after five years if the homebuyer still owns and lives in the property as the primary residence. However, if the property is sold before the five years are up, the homeowner must repay the Closing Costs/Down Payment Assistance grant.
The above is general information, there may be other requirements to qualify for assistance. Call the City of Fort Worth Housing Department (817)392-7390 for more information, or to set up an appointment with a counselor.
How to Apply?
Qualifying homebuyers may choose from our approved lenders (pdf) to participate in the Homebuyers’ Assistance Program. Lenders can call the Housing Department at (817) 392-7390 about becoming approved for the program.
Homebuyers should be pre-approved for a mortgage loan before searching for a home to buy, to keep within their spending limits. Once a homebuyer has pre-qualified for the house of their choice, their lender will submit the homebuyer’s subsidy application to the Housing Department. Because the application process requires at least 30 days, homebuyers and lenders are advised to apply for Housing Department assistance as quickly as possible once a property has been identified for purchase.
What's really going on with Texas real estate?
|
The facts about Texas real estate |
|
| |
Texas home sales prices
- Median sales price (half of all homes sold are priced higher and half are priced lower) in December 2008: $140,900, down 4% from December 2007
- Median sales price for 2008 (full year): $146,900, unchanged compared to 2007
- Average sales price in December 2008: $183,600, down 6% from December 2007
- Average sales price for 2008 (full year): $191,700, unchanged from 2007
|
Home prices appreciation
- The average home sales price in Texas has increased $15,600 from December 2004 to December 2008
- Home price appreciation in Texas has not fallen below zero in the last 16 years
Texas home sales
- Total sales in 2008: 231,556, down 16% from 2007
- Months of inventory (how long it would take at the current rate to sell all homes on the market) in December 2008: 6.3 months
- Months of inventory in December 2007: 5.6 months
Foreclosures
- Texas was 24th on the list of foreclosure rates for 2008
- Nevada (highest foreclosure rate on the list) had a foreclosure rate seven times higher than in Texas
- Florida (2nd on the list) had a foreclosure rate four times higher than in Texas
- More than 40% of all foreclosure filings in the U.S. occurred in California and Florida
- The 2008 foreclosure rate in Texas was up 13.84% compared to 2007 and up 14.96% compared to 2006
- Arizona’s 2008 foreclosure rate was up 203% from 2007 and up 655% from 2006
|
Buyers |
|
Whether you're looking for your first home, your dream home or an investment property, I'm committed to providing you with the highest quality buyer service. When making the type of investment that buying a home requires, you deserve to have all the latest market information and the very best advice, both of which I can provide you with. |
|
Sellers |
|
The decision to sell a home is often dependent on many factors. Whatever your reasons are for selling, my proven effective marketing strategies will ensure that you get the highest possible price for your home. I guarantee to provide you with professional, ethical and confidential service and keep you fully informed every step of the way. |
|
 |
|
|
Today's Rates:
| 30-yr Fixed | 4.97% | 5.13% | | 15-yr Fixed | 4.33% | 4.56% | | 1-yr Adj | 4.27% | 5.3% |
|
|
|
