First-Time Home Buyer Program
Are you ready to buy a home but lack the money for the down payment and closing costs? AT CTCU, we value the community that we live in and the people who make up that community, which is why we have partnered with the City of Tyler to help fund up to 20%* of select first-time homebuyer’s mortgage.
How Do I Qualify?
- Applicants must be U.S. citizens or permanent legal residents
- Applicants must not have owned a home within the past three years.
- The property must:
- Be within the City of Tyler limits
- Be a single-family residence
- Have been built during or after 1978
- Pass both a home inspection and Housing Quality Standards
- Not be located in a floodplain or floodway
Applicant’s gross household income from all sources must be equal to or less than the following amounts below:
This program will offer down payment assistance up to the following amounts, and are considered a “deferred payment loan”, meaning no monthly loan repayments for the assistance money is necessary.
In other words, if you wish to purchase a new construction home at a price of $200,000 and plan to live there for a minimum of 10 years, you could receive up to $25,000 which would be applied toward your CTCU home loan making your mortgage balance $175,000 instead of $200,000.
Contact us today to see if you qualify or start your application now!Apply Now
*Terms and conditions apply. Must meet certain qualifications and criteria to qualify.
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