If you or someone in your immediate family works in the city of Frisco you have a terrific benefit available to you if you are considering the purchase of a home. The city of Frisco offers two down payment assistance programs. They are provided by the Housing Trust Fund and are designed to help low and moderate income families working in Frisco. These are loans that do not need to be repaid as long as you maintain the home as your primary residence and do not sell or refinance for a minimum period of time.
The first program is the Frisco Down Payment Assistance Program and it is designed for families who have had at least one adult working full time for a minimum of 6 months in the city. Essentially if you or someone in your family has worked in Frisco for 6 months you are eligible for a forgivable loan up to $10,000 that can be used for your down payment and closing costs. The only stipulation for closing costs is that the homebuyer must pay 50% of the costs. The forgivable loan cannot be used entirely for closing costs. While there are some exceptions eligible participants must be first time homebuyers and income for a family of four cannot be more than $54,100.
The second program is the Frisco Targeted Down Payment Assistance Program and is designed for City of Frisco and Frisco ISD employees. This program allows up to a $5,000 forgivable loan for the purpose of down payment and closing costs for City and Frisco ISD employees. This program has much higher income limits. Household income for a family of 3 cannot be more than $76,475. Additionally, the price of the home must be $170,000 or below in order to be eligible.
As you can see, these programs are designed to make home ownership in Frisco easier. If you are considering purchasing a home and you work in the city of Frisco, please contact us today so we can help you through the process. Both Frisco and McKinney offer Homebuyer Training Classes to help potential home buyers become more familiar with the resources available to คอนโดมือสอง ราคาถูก them. After you attend one of these classes, all you have to do is live in the home and you will not have to repay the loan. These are terrific programs and can go a long ways in helping families make the dream of owning their own home a reality.
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