Bond 77 Loan Information
TDHCA Bond 77 Loan Information
To view complete and full information on Bond 77 please visit our lenders website here: TDHCA Bond 77. Bond 77 is a great new program that allows buyers to take advantage of Down Payment Assistance or Below Market Interest Rates! This dual purpose bond is almost twice the size as any other previous bond and the restrictions on income and purchase prices are more flexible than previous.
Bond 77 – Assisted vs. Un-Assisted
1. “Assisted” version- This great new program allows buyers up to 5% of purchase price for bond money to use for down payment, closing costs, and prepaid expenses.
2. “Un-Assisted” version- If a buyer can provide their own down payment they may use Bond 77 for “Below Market Interest Rates”.
Bond 77 Recapture Tax
If buyers answer ‘Yes’ to all 3 of the following they may owe a recapture tax in the future. Click here to learn more about the Bond 77 Recapture Tax from our lender.
1. Buyer experiences ‘substantial increase’ in their income above the modified adj gross income.
2. There is a gain (net profit) on the sale of the home.
3. The property is sold within 9 years after mortgage is closed.
Most circumstances will leave the home owner owing no recapture taxes. The most likely stipulation that will not occur is that the buyer experiences a “substantial increase” in their salary. Additional details can be provided by Supreme Lending about the Bond 77 Recapture Tax.
Bond 77 Maximum Purchase Prices
Maximum purchase prices vary for Bond 77. In targeted areas purchase prices can go up to $299,250. Non Targeted areas allow max purchase prices of $258,690
Bond 77 Income Limits
Income limits vary for bond 77. Targeted areas: 1-2 people = $87,960 / 3+ people = $102,620
In Non Targeted areas: 1-2 people = $73.300 / 3+ people = $84,295
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