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The program currently does not assist with those two things, but there are many programs that do, including: My Choice Texas Home | The Texas Homebuyers Program Loans and Home Down Payment Assistance from the Texas State Affordable Housing Corporation Also be sure to speak to your mortgage lender about any other opportunities that may be available.

We have three preferred lenders that have worked with our affordable programs in the past. DiAnne Acuña, Guild Mortgage, Senior Loan Officer NMLS #219210 | Company NMLS #3274 Wizard - Guild Mortgage Company (apply online) 512.335.5300 ​ Danielle Norris, First Centennial Mortgage Senior Loan Officer NMLS #219210 | Company NMLS #3274 D.Norris@goFCM.com DanielleNorrisLoans.com 512.818.4811 ​ Craig Greenberg, Land Home Financial Services Loan Officer NMLS# 402039 Craig.Greenberg@LHFS.com 281-973-5540

Earnest money is put down before closing on a house to show you're serious about purchasing. Earnest money acts as a deposit on the property you're looking to buy. When a buyer and seller enter into a purchase agreement: + the buyer delivers the earnest money upon signing + the seller takes the home off the market while the transaction moves through the process to closing. Austin Community Land Trust Earnest Money ACLT buyers must contribute a minimum of $1,000 earnest money. This money must be from their own personal funds. When the sales contract is received by a title company, the ACLT buyer must be able to put down their $1,000 in earnest money. The earnest money must also be reflected in both the Loan Estimate and the Closing Disclosures. Applicant’s costs paid outside of closing may not be counted towards the $1,000 earnest money requirement.

A pre-approval letter is a document that states how much a lender is willing to loan you for a new home. Having one helps you understand how much home you can afford. If your loan application is pre-approved, the lender issues a letter. This letter outlines the terms of the offer: + the maximum allowable purchase price, + any applicable lending fees, and + the interest rate the lender has tentatively agreed to extend you. The letter is valid for a specific window of time, such as 30, 60, or 90 days. The lender may ask for updated financial documents when you're ready to move forward with the mortgage process. We have three preferred lenders that have worked with our affordable programs in the past. DiAnne Acuña, Guild Mortgage, Senior Loan Officer NMLS #219210 | Company NMLS #3274 Wizard - Guild Mortgage Company (apply online) 512.335.5300 ​ Danielle Norris, First Centennial Mortgage Senior Loan Officer NMLS #219210 | Company NMLS #3274 D.Norris@goFCM.com DanielleNorrisLoans.com 512.818.4811 ​ Craig Greenberg, Land Home Financial Services Loan Officer NMLS# 402039 Craig.Greenberg@LHFS.com 281-973-5540