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LOANS

 

VETERANS HOME PROGRAM

This program assists Veteran homeowners with the demolition and reconstruction of their home. If the structure is determined to be over 50% deteriorated, or if the cost to rehabilitate it exceeds the value of the home, it will be demolished. There are maximum loan amounts for the program. The program offers minimum deferred loans, 0% interest loans to qualified owners. The Veteran must provide either the DD 214, or Veteran ID card, must reside in the home one year prior to applying for assistance; must meet the income limits for the program, must have title in their name on year prior to applying, property taxes must be current and the Veteran must be a resident of the City of Corpus Christi.

 

DEMOLITION REPLACEMENT LOAN PROGRAM

This program assists homeowners with the demolition and reconstruction of their homes. If the structure is determined to be over 50% deteriorated, or if the cost to rehabilitate the home exceeds the value of the house, it can be demolished. There are maximum loan amounts for this program. The program offers minimum deferred loans, 0% and 3% interest. The owner must reside in the house one year prior to applying for assistance; must meet the income limits, must have title in their name one year prior to applying, property taxes must be current and the applicant must be a resident of the City of Corpus Christi.

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GRANTS

 

VETERANS MINOR HOME REPAIR PROGRAM

The Minor Home Repair Grant Program assists Veterans with emergency repairs involving the roof, plumbing, electrical, heating or minor structural repairs. If the structure is determined to be over 50% deteriorated the applicant will be referred over to the Veterans HOME Program. The Veteran must provide a DD 214, or Veterans ID Card, must reside in the house one year prior to applying for assistance, must meet the very low-income limits; must have the title in their name one year prior to applying. Property taxes must be current.

 

MINOR HOME REPAIR PROGRAM

The Minor Home Repair Grant Program assists homeowners with emergency repairs involving the roof, plumbing, electrical, heating or minor structural repairs. If the structure is determined to be over 50% deteriorated the owner will be referred over to the demo replacement loan program. The applicant must be 62 years or older, or disabled; applicant must reside in the house one year prior to applying for assistance. Must meet the very low-income limits; must have the title in their name one year prior to applying; must be current with property taxes; and be a resident of the City of Corpus Christi.

 

SINGLE FAMILY REHAB GRANT PROGRAM

This program assists homeowners with the rehabilitation of their homes. If the structure is determined to be over 50% deteriorated, the homeowner will be referred to the Demolition and Replacement Loan Program. The applicant must meet low and moderate income limits. This program allows for a rehabilitation grant to the home for the following: Roof, Plumbing, Electrical, Heating, Foundation and Minor Structural Problems. The owner must be a resident of the City of Corpus Christi, have title in their name at least one year prior to applying, property taxes must be current.

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HOMEBUYER


          Information on Homebuyer Classes »

          Homebuyer Program Applicant Process »

 

HOME CLOSING COST PROGRAM

The purpose of this program is to assist homebuyers with closing costs to purchase an existing pre-owned home, or new construction home. The homebuyer will be provided up to $10,000 in the form of a deferred forgivable loan at zero percent interest amortized over 5 years. In order to be eligible, the homebuyer must meet low and moderate income limits; must not currently own a home; and must use the home being purchased as their principal residence. Maximum sales price is $166,000. More Information »

 

HOMEBUYER ASSISTANCE PROGRAM

The Homebuyer Assistance Program will provide the homebuyer up to $10,000 in down payment assistance. The down payment assistance will be in the form of a deferred forgivable loan at zero percent interest amortized over a 5-year period and forgiven at $2,000 per year. All properties in the program must have a value that does not exceed a sales price of $166,000. The home must be located within the city limits of Corpus Christi. If purchasing a new construction home, the homebuyer will be required to select a builder from a list of participating builders.

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VERY LOW TO LOW INCOME; VETERANS HOME PROGRAM, VETERANS AND MINOR HOME REPAIR GRANTS AND DEMO REPLACEMENT*

Family      Annual
Size          Income
1...............20,350
2...............23,250
3...............26,150
4...............29,050
5...............31,400
6...............33,700
7...............36,050
8...............38,350

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LOW TO MODERATE INCOME; SINGLE FAMILY REHAB GRANT, DEMOLITION REPLACEMENT, AND HOMEBUYER ASSISTANCE*

Family      Annual
Size          Income
1...............32,550
2...............37,200
3...............41,850
4...............46,500
5...............50,250
6...............53,950
7...............57,700
8...............61,400

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* Revised 6/6/2016. Income Limits are established by HUD.