Two new grant programs we wanted to share with you.
HSP Grant
• Both programs open on March 4, 2024
• Funds are $15,000 and are first come first serve
• Must be a first-time homebuyer
• Non-occupant co-borrowers are not allowed
• Home must be located in Colorado, Kansas, Nebraska or Oklahoma
• Household income must be at or below 80% of the County Area Median Income ($68,180 for Sedgwick County, a family of 1-4) ($89,600 for a family of 5+)
• Assistance is forgiven 1/60th per monthly mortgage payment made on the first lien (i.e. over the first 5 years in the home)
FHLB now requires that the front (housing) qualifying ratio be < 38%
Hope Grant
• Borrower(s) does not have to be a first-time homebuyer
• Non-occupant co-borrowers are not allowed
• Maximum household income is limited to 150% of the current county Area Median Income ($127,800 for Sedgwick County)
• Funds are $12,500 per loan on a first come first served basis
• Minimum loan to value for first mortgage is 80%
• Property must be in Colorado, Kansas, Nebraska or Oklahoma
• Assistance is forgiven at the same rate as HSP
• HOPE subsidy cannot be subordinated in the event of a refinance, this means if the borrower wishes to refinance their loan within the first 60 payments, they would have to pay back the remaining unforgiven portion of these funds
FHLB now requires that the front (housing) qualifying ratio be < 38%
Next step:
See if you qualify.
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My cell phone number is 832-639-1435, my email address is [email protected], and you can even schedule a call with me here. Hugs, Jo.
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
We are Waiting for You
If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!
If you are overwhelmed..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious about what to look at next! Thank you for trusting us.
What next?!
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
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