Local program may help people move to Austin
Home ownership is an amazing accomplishment. For those looking to achieve this goal, you can explore the market of homes for sale in Austin, and may receive assistance from a local housing program.
The Housing Authority of the City of Austin (HACA) offers the Down Payment Assistance Program (DPAP) to help people become property owners. The city can make your dreams come true by providing $10,000 toward the down payment on a home. Whether you're looking to purchase a one-, two-, three- or four-bedroom house, you can obtain resources from this agency.
There are several qualifications you must meet to receive this assistance. For example, those who live in housing projects and are first-time buyers may be eligible to participate in the program. Additionally, it's necessary to complete an HACA homebuyer training course, be able to make at least a $2,500 down payment toward their purchase and receive a first lien mortgage or first mortgage financing from a private institution.
Banks may be more willing than ever to offer support to help you acquire a home in Austin. Many foreclosed properties remain available, but the inventory could be rapidly depleting. According to the Austin Business Journal, the Texas Mortgage Bankers Association reported that foreclosure filings fell 42.9 percent between April 2010 and April 2011. Meanwhile, Texas loan delinquencies hit their lowest level in more than two years in the first quarter of 2011, which shows that fewer foreclosed properties entered the real estate market during this period.
HACA's staff can educate you on the DPAP and offer support to help you complete a move to Austin in the near future.