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$160 million program expansion makes home loans less costly for Texas borrowers.
- Article from:
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Amarillo Globe-News (Amarillo, TX)
- Article date:
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October 2, 2007
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Copyright informationCOPYRIGHT 2007 Amarillo Globe-News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kevin Welch
Oct. 2--Lenders and leaders announced Monday the expansion of a program to turn more Texans into homeowners.
"It is no small deal -- $160 million," said State Rep. Warren Chisum, R-Pampa.
That is the amount the Texas Department of Housing and Community Affairs is offering to selected lenders for home loans at low interest rates.
"We believe we are, quite frankly, putting a down payment on a better future," said Michael Gerber, TDHCA executive director.
The state periodically sells bonds to finance the program for people with limited incomes who have not owned a home in the past three years.
The money is offered on a first-come, ...