28th Legislative District Community Development Corporation

ELIGIBILITY REQUIREMENTS:

Applicants must be low-moderate income as defined by HUD program guidlines.
Applicants must be pre-qualified for a mortgage loan (THDA or comparable) from a local lender. (Written proof of pre-qualification is required.)
Applicants must complete homebuyer's education program.
Applicants are required as a minimum personal investment to pay the cost of:

Credit Report: $50-$55
Homebuyer's Education Course: $50
Appraisal Fee: $300-$350

LENDER REPONSIBILITIES:

The lender will process all loan applications utilizing routine application and verification procedures, i.e. credit reports, employment and/or other income verification, work history and stability, etc. and provide written documentation to the 28th CDC of the applicants's qualifying status to obtain a mortgage loan. The permanent financing is generally at the THDA rate or comparable.