Are you looking for a good location to buy a home? Consider the Rio Grande Valley, a region that offers easy access to Mexico, great quality of life and a fantastic subtropical coastal climate. PRMI Brownsville gives you the opportunity to purchase your dream home with the help of our down payment assistance program.*
How This Program Works
This type of financial assistance offers aspiring homeowners funds to partially or completely pay their down payment. A down payment assistance program can take one of the following forms:
- Matched Savings Program — When you contribute to an account exclusively for down payment savings, the entity, such as a financial institution that has partnered with a government agency, makes a matching contribution.
- Down Payment Grants — Nationally available grant programs provide would-be homebuyers grant money to pay their down payment.
- Forgivable Second Mortgage Programs — If the applicant satisfies certain requirements, he/she may apply for this assistance program at no interest and zero down payments.
The Advantages of Down Payment Assistance
By applying for this program, you can purchase your desired home more quickly. Some would-be homeowners don’t have enough money to cover a down payment. With down payment assistance, you’ll have the funds necessary to enable you to buy a home.
This program also gives you a cash cushion. You may use the down payment money you’ve saved for other expenses, such as homeownership costs, maintenance, and financial emergencies.
General Program Qualifications
Although down payment assistance helps future homebuyers achieve the “American Dream”, applicants need to qualify to enjoy the benefits. Depending on the program, the aspiring homeowner may need to meet one or more of these requirements:
- A minimum credit rating
- A specific type of property
- A specific repayment period
Making Homebuying Easy
Down payment assistance is available through PRMI Brownsville. We offer this program to interested and eligible homebuyers. Our company partners with providers of down payment assistance programs to help you purchase the house you’ve always wanted. When you come to us, we’ll inform you of the down payment assistance opportunities that are open to you.
Your journey to becoming a homeowner starts today. Take this first step with us by contacting one of our loan originators for down payment assistance at (469) 319-8291.
*First lien interest rates maybe higher when using a DPA second.