Freddie Mac will offer its "Home Possible" mortgages — which give teachers, firefighters, law enforcement, and healthcare workers 30% more buying power — to 1.5 million members of the U.S. armed forces. Designed to foster homeownership in underserved communities and among at or below median-income families, "Home Possible" mortgages are available at 15-, 20-, 30-, and 40-year fixed-rate mortgages. They have zero or very low downpayments, flexible credit requirements, and higher loan-to-value ratios.
Texas has its very own low-interest land, home, and home-improvement loans for military personnel through the Texas Veterans Land Board. Teachers, firefighters, and law enforcement can also get low-interest loans, and downpayment and closing cost assistance through the Texas State Affordable Housing Corporation. To learn more about programs for Texans, visit the Affordable Housing page.
Source: Inman News & Texas Association of REALTORS®
