Capital Area Housing Finance Corporation

 

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2009A Single Family MRB Program

PROGRAM FUNDS $15,000,000
ELIGIBLE AREAS Eligible Area Includes the geographical area within Tarrant County, Texas, that automatically includes all cities with populations under 20,00 and including the following cities with populations of 20,000 or more: Arlington, Benbrook, Euless, Fort Worth, the portion of Grand Prairie that falls in Tarrant County, Haltom, Hurst, Mansfield, North Richland Hills, Watauga
ELIGIBILITY CRITERIA - First-time Homebuyers
- Borrower(s) & Spouses, occupant or non-occupant
- Must be able to permanently reside in the U.S.
- Principal residence
- Borrower(s) must occupy property within 60 days of closing
- IRS filed returns for past 3 yrs – all borrower(s) & spouses
ELIGIBLE LOAN TYPE FHA, VA, USDA-RD
AVAILABLE DOWN PAYMENT ASSISTANCE Assistance payment equal to 4% of the note amount to apply toward down payment or closing costs.
INCOME LIMIT CRITERIA Applicable by County/Area. See Program Guidelines.
HOME ACQUISITION LIMITS - Targeted: $247,032
- Non-Targeted: $301,929; Mansfield: $160,000
HOME BUYER EDUCATION All buyers (any person on the Note other than cosigners) must attend an approved on line homebuyer education course.
FICO SCORE REQUIREMENT Mid score must be 600 or higher
CO-SIGNERS Cosigners are permitted for FHA loans under very specific conditions. See Program Guidelines.
LOAN TIME LINE REQUIREMENTS - Reservation to UW Cert: 45 days
- Reservation to Close and Delivery: 85 days
- Reservation to Loan Purchase: 110 days
LENDER PARTICIPATION Contact an eHousingPlus representative for additional information.
FORMS AND DOCUMENTATION View Forms and Documentation.
OTHER For additional information, please See Program Guidelines.

Current Rates

  • 3.600% - With DPA  3% Assistance Grant
  • Term: 30 Year Amortizing

DPA

  • Assisted rate includes 4% of final loan amount
Program Updates

- Information coming soon!

Lender F.A.Q.
Homebuyer F.A.Q.

            

Please check back soon for system training updates.

 

        

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Note: Flex Training is available only on Tuesdays between 7 AM – Midnight in all time zones.