There are numerous sud-divisions that may suit your needs. If you are looking for an August 1st move in, foreclosures are probably not you best bet. They typically take longer to close.
Please feel free to contact me if you have further questions or concerns.
Best of luck in your searc,
Brenda J. Wilie
Prudential Gary Greene
I just sold a new home near Cypress with 100% financing...only $500 down. It's a great neighborhood, in the Cy-fair school district, plus super low taxes. Also, I am a Texas Affordable Housing Specialist, and know where you can find affordable housing. Contact me if you'd like more info.
Vanessa Castillo, Realtor, TAHS
If you are looking for really good schools and nice amenities, your best best in that price range will be Fairfield. I have recently posted a few video reviews about the pros and cons of Fairfield (along with a few other Cypress area communities) on my Cy-Fair Real Estate website.
There are currently over 30 homes in Fairfield at $150k or less.
Please let me know if you have any questions about homes in the Cypress area! 832-303-1018
The USDA program is a favorite of mine. Here are some highlights of the program:
Home must be in a USDA eligible area which can be verified via this link: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Finance full purchase price plus closing costs up to 103.5% of the appraised value with or without seller concessions
No cap on seller concessions, if seller is not paying closing costs, they can be rolled into the loan amount up to 103.5% of appraised value, not sales price. Great on foreclosures.
One lien, no down payment assistance required
No post-closing reserve requirements
Not limited to first time home buyers
Finance needed property improvements into loan amount up to 103.5% of â€œAfter Repaired Valueâ€ (case by case, contact me for details)
NO MORTGAGE INSURANCE: That means lower payments than FHA
Full doc only, must have stable work history (2+ years)
Self-Employed borrowers okay with 24 month average income
620 minimum credit score
No open collections, charge offs, judgments or tax liens
No pre-pay penalty
30 year fixed rates
Primary residence only
Available for SFRâ€™s, condos & town-homes only, No mobile homes or multi-family properties
This is also a Moderate Income loan program so there are income limits that are determined by what county you are buying in and how many people will be in your household but the limits are fairly liberal.
I have been closing USDA loans for the last 6 years so if you would like more details on how to qualify for this loan please feel free to contact me at your convenience.
Elliott R. Oliva
Mortgage Banker - NMLS lic. #353884
Envoy Mortgage, LTD.