This is a unique program created by the county to assist First Time Home Buyers. As part of this special Bank Owned Program, the county purchases the home with cash at the current market value. Then the county makes these homes available to first time home buyers only by discounting the sales price by exactly 10%. What this means is that the buyers acquire and immediate 10% in their home the moment they close. In addition to this special discount, the government will pay up to 6% of your closing costs, and you only need $500 to separate this home. Other conditions apply (*).

Click here for Lovely Bank Owned Homes For Sale
 

These homes are sold to whoever presents a complete purchase contract first. We are among the few who have access to this exclusive opportunity.

The video above is the testimonial of one of our clients who qualified for this program just before they went to closing.

We love helping our clients, friends, and neighbors to find these incredible deals not advertised in the public MLS listings. If you know of a friend who would benefit from this service, let them know that they can call us or subscribe here.

Jorge & Suzanna Chiriboga, C.N.E., REALTOR
Certified Negotiator Expert
713-589-3234

(*) Qualifications

·          You must complete an 8 hour HUD approved homebuyer education class.

·          You must be pre-qualified for a fixed rate loan by one of the approved lenders. (You should receive a Pre-approved Letter.)

·          The following income documentation should be provided to an approved Lender:

o                     Current six (6) months of checking and savings bank statements.

o                     Current three (3) years of income tax returns (include W-2’s, 1099’s, etc.).

o                     Current three (3) months of payroll stubs on everyone in the household 18 years old or older.

o                     Any other supportive income information, such as child support, alimony, social security benefits, retirement accounts (IRA’s, 401K, etc.), disability or worker’s compensation.

o                     Birth certificates on everyone that will be residing in the home.

o                     Divorce papers, if applicable.

o                     Lender needs to provide tri-merged Credit Report on all adult members in the household.

·          Homebuyer Debt To Income ratio cannot exceed 30/42.

·          Homebuyer must have at least one credit score of 620

·          You must not have owned another home in the U.S. within the last 3 years (except a mobile home).

·          You must be a U.S. Citizen or Permanent Resident Alien (documentation required).

·          Your lender will need to provide a Verification of Rent

·          Homebuyer's liquid assets may not exceed $25,000.

·          Seller to contribute up to 6% toward buyer's closing costs

·          Your income level must not exceed 120% of the median income.