NEW HOME DEVELOPMENT PROGRAM
homeownership made possible
AM I ELIGIBLE TO PURCHASE AN NHDP HOME?
You must have a gross household income of 80% of area median income (AMI) or less. To see the most up-to-date household income limits for this and other HLB programs, click here for a helpful chart.
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- In addition to the income requirements, to purchase an NHDP home you must agree to live in it as your principal place of residence, and meet other requirements including:
- Complete an eight-hour certified Homebuyer Education Course through a HUD-approved counseling agency.
- Must be a U.S. citizen or permanent resident alien.
- Must be able to obtain a 30-year fixed-rate mortgage for the purchase price. The program does not accept adjustable-rate mortgages (ARM) or seller-financed mortgages.
- Must have less than $30,000 in liquid assets
Remember: If you buy a home through the NHDP program, you must live in it as your principal place of residence.
For more information, contact us at 281-655-4600 or info@houstonlandbank.org.
BUYING YOUR NEW AFFORDABLE HOME THROUGH THE NEW HOME DEVELOPMENT PROGRAM
Under the Standard Purchase Option, you can purchase a NHDP home at a standard price with the help of up to $50,000 in assistance through the New Home Development Program, depending on the loan pre approval.
- You must have a gross household income of 80% of area median income (AMI) or less. See Chart
- You must be able to qualify for a mortgage and meet other program requirements.
To learn more about any of our new homes for sale, you can contact one of our listing brokers:
- LaTisha Grant (TAS Realty Group)
713-929-3411
LaTisha@tasrealtygroup.com - Andrea Cooksey (EXIT Realty 360)
832-215-9084
exit360team@exitrealty360.com - Vachael Starks (Walzel Properties)
832-628-5010
vachael@sbcglobal.net