CTips_TSHAC

This podcast episode discusses two options for purchasing a home in Texas. The first option is fixed rate loans with down payment assistance, which offers up to 4% of the total loan amount as assistance towards the down payment. This can significantly reduce the upfront cost of buying a home. The second option is mortgage credit certificates, which provide a special tax credit for first-time buyers, reducing federal income taxes each year. These options are exclusive and cannot be combined. Midtown Mortgage and TSHAC offer these options to help people achieve their dream of homeownership in Texas. For more information, visit the Texas State Affordable Housing Corporation's website or Midtown Mortgage's website. Welcome to Chad's Tips, your go-to podcast for navigating the world of mortgages and home buying here in the Lone Star State. I'm your host, Chad Wisnett with Midtown Mortgage, and today we've got something special for all you future homeowners out there. We're partnering with the Texas State Affordable Housing Corporation, or TSHAC for short, to bring you two fantastic options to make your home ownership dreams come true. All right, let's dive right into it. So today we're going to be talking about two incredible options to assist you in purchasing your home here in Texas. Whether you're a seasoned house hunter or a first-time buyer, we've got you covered. Our first option is a game changer, and it's all about fixed rate loans with down payment assistance. Now I know what you're thinking, what exactly is down payment assistance and how can it help me? Well, here's the scoop. Fixed rate loans with down payment assistance offer up to 4% of the total loan amount as assistance towards your down payment. That's right, up to 4% to put towards that first step into home ownership. This assistance can significantly reduce the upfront cost of buying a home, making it more attainable for many folks. So imagine you're looking at a home worth $200,000. With this program, you can receive up to $8,000 in assistance for your down payment. In a lot of the loans that we offer, the minimum down payment is only 3.5%. So $8,000 in assistance for your down payment, that's a significant chunk of change that can help you take that step towards owning your own home. But wait, there's more. Now let's shift gears to our second option, the mortgage credit certificate. This one is a gem for first-time buyers. So what's mortgage credit certificates, you ask? Well, if you're a first-time buyer, meaning you haven't owned a home in the last three years, this could be perfect for you. Mortgage credit certificates provide a special tax credit that reduces your federal income taxes every year. It's like a little gift from the IRS that keeps on giving as long as you have your mortgage. It's a fantastic way to ease the financial burden of home ownership, especially for those just starting out. Now keep in mind that mortgage credit certificates are exclusive to first-time buyers and they can't be combined with the previous option, fixed rate loans with down payment assistance. But hey, having choices is a good thing, right? So there you have it, folks, two fantastic options from Midtown Mortgage and TSHAC to help you turn the key to your dream home here in Texas. Whether you opt for the fixed rate loans with down payment assistance or the mortgage credit credit certificates, Midtown Mortgage and TSHAC have your back. Remember, home ownership is within reach and Midtown Mortgage and TSHAC are here to make it happen. So that's all for this episode of Chad's Tips. Thank you all for tuning in. If you want to learn more about these programs or have questions, check out Texas State Affordable Housing Corporation's website or our website, midtownmortgage.com, or better yet, reach out to me, Chad Wisnett, your friendly neighborhood mortgage loan officer, Chad Wisnett at Midtown Mortgage. Hey, until next time, stay informed, stay witty, and most importantly, stay on your path to home ownership. See you soon.