The City of Odessa helps first-time homebuyers

Local News

ODESSA, Texas (Big 2/ Fox 24)- “They got into the house we went in with them when they closed and were able to move into their house and he just said ‘I now have a room of my own’ I mean that’s really special you know to be able to give that to a child,” says Community Development Director, Merita Sandoval.

The City of Odessa is helping West Texans purchase their own homes through their Homebuyer program.

According to Sandoval, the people purchasing these homes “can afford a monthly mortgage payment because they’ve been making rent payments all alone but their not able to have enough reserve our of their paychecks to save for the downpayment and for the closing cost so that’s where we come in.”

The program, which is federally funded, will pay anywhere from $3,500 to $4,000 toward your down payment.

She says that “on a new house we have a sliding scale so based on your household size and your income we can pay anywhere from $2,500 to $20,000 as your down payment. If we’ve got people who are qualified and we have funding available we will help them.”

“Households must have an annual income that is less than the income limits set by the U.S. Department of Housing and Urban Development (HUD) every year. “

The qualifications are based on income, household size, and proof that you can make monthly payments.

“Call our office and talk without housing staff and we will take some information, we’ll have them come in and fill out an application and provide us with certain documents we will also then ask them to go to a mortgage company that works with us. If they have credit issues we also have a partner agency who can help them repair their credit so we can address any kind of issue that they have.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

BorderReport.com

More BorderReport

Don't Miss

More Don't Miss

Hidden History 2020: Black History Month