Home Buying in Dallas>Question Details

joynertheresa, Renter in Dallas, TX

Are there any programs to assist low income first time buyer with down payment/closing cost in Dallas area?

Asked by joynertheresa, Dallas, TX Sun Mar 2, 2014

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My program does not require any down payment, closing costs or mortgage insurance. In order to buy a $100,000 home you'd need ~$3500. I also do not consider FICO scores on the credit report.

Check out http://www.naca.com for today's rate released every business day around 9:30 Central Time. On the left side of the screen you can also enter your zip code and find out the upcoming workshop dates and locations to start the process and find out the guidelines for the program.

You'll get the best loan through NACA than any bank loan you'll find. Contact me for any questions.


John Lyng
Mortgage Counselor - NMLS 280951
1 vote Thank Flag Link Mon Mar 3, 2014

Yes there is assistance available. If you are purchasing in Dallas County, there is assistance from The Enterprise Foundation. Please visit my website to see what programs we offer and give us a call, my team and I would be happy to assist you, http://www.PfeifferMortgage.com

Mark Pfeiffer
Senior Loan Officer, CMPS
0 votes Thank Flag Link Mon Mar 10, 2014
While the mortgage lenders battle it out, I think if you need assistance to buy a home, your not ready to own a home. Owning a home is not an entitlement, it is a reward for working hard, paying bills and being responsible with finances. A lot of things can and will go wrong with as home. How will you pay for repairs? Most people don't want to hear the truth. But it is what it is.
0 votes Thank Flag Link Wed Mar 5, 2014
Kenneth I agree with the part of what you said regarding the responsibility of home ownership, but grant programs and the NACA program help with the hurdle of the cash required to get that first home. If someone is paying a $1000 rent and their other obligations on time for 24 months, what would make you think they wouldn't pay a $1000 mortgage on time after that?

You'd be surprised (as I was) how the loans we do perform compared to a bank loan. I'd be happy to visit and show you how it works. I could probably help you close an extra deal per month.
Flag Wed Mar 5, 2014

- You should concentrate on what you can do instead of trying to disparage someone else.

- You should check your facts before disparaging someone. The rate today on a 30-year fixed is 3.875%. I'm confident its competitive rate if you'd care to share a rate sheet.


John Lyng
Mortgage Counselor - NMLS 280951
0 votes Thank Flag Link Mon Mar 3, 2014
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