GRANTS UP TO 5% OF PRINCIPAL LOAN AMOUNT TO HELP BUY A HOME WITHIN EL PASO CITY LIMITS:
- Household of 2 or less $71,200
- Household of 3 or more $81,800
*Rates are updated daily. Please call Lender for current rate info or stop by their office today:
GECU, 915-774-6081, 7227 Viscount, El Paso, TX 79925
Buying a home can be affordable thanks to a partnership between the El Paso Housing Finance Corporation and local home mortgage lenders. Homebuyers in the El Paso program area have a chance to own a home of their own with a down payment and/or closing cost assistance. Here are the details, but you should go directly to one of the participating lenders to apply. You do not have to come to City Hall to apply.
Requirement: Mortgage loans must be made available to first-time homebuyers (defined as having no ownership in the previous 3 years). No first-time homebuyer requirement for targeted area loans or qualified veteran.
Recapture Tax: Borrowers may be subject to a federal recapture tax if the home is sold within 9 years of the mortgage loan closing.
Purchase Price Limits
New or Existing Residences