• Call Us: 512-587-5489
  • home
  • Contact Us
  • About Us
  • Register

New Homes Market Center : Types Of Mortgages 3 | New Homes Market Center

  • Choose a city
    • Austin Real Estate
    • San Antonio Real Estate
    • Killeen Real Estate
    • New Braunfels Real Estate
    • Dallas Real Estate
    • Temple Belton Real Estate
  • Search
  • Buyers
    • Home Buyers Guide
      • Prequalify for a Mortgage
      • Things to Avoid When Purchasing a Home
      • Mortgage Lenders
      • Find a Mortgage Lender
      • Mortgage Interest Rates
      • Mortgage Down Payment
      • Mortgage Payments
      • Types of Mortgages
      • Types of Mortgages 2
      • Types of Mortgages 3
      • Mortgage Qualification
      • Repair Your Credit
      • Mortgage Application Process
      • Why Use a REALTOR
      • Find a Realtor
      • Find a Home
      • Making an Offer on a Home
      • Inspecting a House
      • Final Steps to Buying a New Home
    • Glossary
    • Building Your Home
    • New Home Tours
    • New Home Buyers
    • Rent Vs Buy Decision
    • Get Out of Your Lease
    • Home Buyer Services
    • Green Building
      • Benefits of Building Green
      • Indoor Air Quality
      • Green Building Ratings
      • LEED
      • Energy Star Rating
      • Green Building in Austin
    • Guide to Building a Custom Home
      • Construction Loans
      • Construction Financing
      • Finding a lot
      • Finding a Builder
      • Architectural Design
      • Custom Home Design Options
      • New Home Construction Phases and Draws
  • Sellers
    • Information for Sellers
    • Home Listing Services
    • Pricing Your Home to Sell
    • Buyer Move Up Program
    • Staging a Home to Sell
    • Guaranteed Home Sales Program
    • Home Valuation Report
  • Incentives
    • Austin Incentives
    • San Antonio Incentives
    • Killeen and Fort Hood Incentives
    • New Braunfels Incentives
    • Dallas Incentives
    • Temple Belton Incentives
  • Loans
    • Application Process for Mortgage
    • Apply for a Mortgage
    • Mortgage Calculator
    • Loan FAQs
    • Mortgage Glossary
  • Agents
  • Programs
    • Seller Programs
    • Buyer Programs

Types of Mortgages 3 | New Homes Market Center

Interest Rate Deductions and Down Payment Assistance Programs

Neighborhood Gold & Genesis Preferred Down Payment Assistant Programs

Neighborhood Gold and The Genesis Preferred Program are non-profit organizations that accept donations from new homebuilders and sellers. They then take a fee from that donation and apply the rest to the down payment on the purchase of your new home and closing costs on an FHA loan. The contract between you and the seller or builder must stipulate this information, and your lender or real estate agent must be familiar with these types of down payment assistance programs.

Zero Down Programs

There are some conventional programs that allow for the purchase of a new home with zero down payments. Such programs may be a mixture of an 80/20 or another second lien program. If you look into this option, you may find that having two liens at 100 percent financing has a lower payment than some of the other 100 percent products because you do not have to pay mortgage insurance. It is good to compare several different scenarios with the new homebuilder’s lender to see what will be the best choice for you.

Buy-down

A buy-down is not a loan, but a loan feature you might have that gives the option of ‘buying down’ the loan. The term 2/1 buy-down means that for the first year your interest rate will be two percent less than your fixed rate. The second year will be one percent less than your fixed rate, and on the 3rd year, your interest rate and monthly mortgage payment will adjust to the fixed rate. Lenders may require prepaid interest to add this feature on your loan. This amount may be paid upfront by you or new homebuilder if negotiated into the sales contract when you purchase a home.

< Types of Mortgages 2 | Mortgage Qualification >

  • Home Buyers Guide
    • Prequalify for a Mortgage
    • Things to Avoid When Purchasing a Home
    • Mortgage Lenders
    • Find a Mortgage Lender
    • Mortgage Interest Rates
    • Mortgage Down Payment
    • Mortgage Payments
    • Types of Mortgages
    • Types of Mortgages 2
    • Types of Mortgages 3
    • Mortgage Qualification
    • Repair Your Credit
    • Mortgage Application Process
    • Why Use a REALTOR
    • Find a Realtor
    • Find a Home
    • Making an Offer on a Home
    • Inspecting a House
    • Final Steps to Buying a New Home

Featured Listings

404 Not Found
Centex Materials: Aggregates and Ready Mix Concrete in Austin, Texas
  • Ready Mixed Concrete
  • Crushed Limestone
  • Employment
  • Plant Locations
  • About Us
  • Quality Control
  • Projects
  • Contact Us

404

Oops! The content you were looking for has either been removed or moved to another page. Please use the links above to find what you need.

We're Committed

Centex Materials will provide reliable support from the first moment you meet us.

Being a leader in the construction material supply we put you, the customer, first. Your priority is ours, your concern is ours. We aim to help you get the job done from start to finish.

051

OUR PRODUCTS

Ready Mixed Concrete
Crushed Limestone

RESOURCES

About Us
Employment
Plant Locations
Quality Control
Get a Quote

CONTACT US

3019 Alvin Devane Blvd
Bldg 1 Suite 100
Austin, TX 78741
512.460.3003
Contact us

  • Home

design © 2018 lucid crew

More Featured Properties »

Areas

  • Austin Real Estate
  • San Antonio Real Estate
  • Killeen Real Estate
  • New Braunfels Real Estate
  • Dallas Real Estate
  • Temple Real Estate

Resources

  • Incentives Calendar
  • Advanced Search
  • Quick Search
  • Privacy Policy
  • Terms of Use

Tools

  • Mortgage Calculator
  • My Favorites
  • Register
  • Facebook
  • Twitter
  • Texas Real Estate Blog

Mailing List

New Homes Market Center | | New Homes Market Center | | 512-913-7233 | |