El Paso Housing Finance Corporation Mortgage Revenue Bond Program

Buying a home can be affordable thanks to a special new partnership between the City of El Paso Housing Finance Corporation and local home mortgage lenders. Homebuyers in El Paso now have a chance to own a home of their own with down payment and/or closing cost assistance. Up to 6% of the purchase price! This Homebuyer assistance program is geared for home buyers who have not owned a principal residence in the last 3 years and who meet the income guidelines.

Interested homebuyers should contact one of the participating mortgage lenders to ask about the Home Buyer Assistance Program and what is required to meet all the guidelines. More information can be found on the Housing Finance Corporation's Website at http://www.elpasotexas.gov/hfc/ or by calling (915) 541-4845.

Countrywide Home Loans, Inc. http://my.countrywide.com/ 9100-H Viscount Blvd. El Paso, TX 79925 (915) 591-1200 Government Employees Credit Union http://www.gecu-ep.org 7227 Viscount Blvd. El Paso, TX 79925 Mortgage Loan Department (915) 774-6081 Patriot Mortgage http://www.patriotmortgage.info 9870 Gateway North, Ste. A El Paso, TX 79924 (915) 757-9500 2006 Program Interest Rates 6.125% (FHA, VA, USDA-RHS) 6.25% (Conventional)

Rocky Mountain Mortgage Co. http://www.rmmc.com 2244 Trawood, Suite 100 El Paso, TX 79935 (915) 593-3111 Tri State Mortgage Company 6090 Surety Dr # 101 El Paso, TX 79905 (915) 772-1177 Verde Mortgage http://www.verdemortgage.com 1790 N. Lee Trevino, Suite 609 El Paso, TX 79936 Phone (915) 225-3330

Maximum Purchase Price Limits		Maximum Income Limits
	New and Existing Residences		1-2 Persons	3 or More Persons
Non-Targeted Areas:	$175,000	Non-Targeted Areas:	$54,300	$62,445
Targeted Areas:	$200,000	Targeted Areas:	$65,160	$76,020

2005 Program
Interest Rates:
5.2% (FHA, VA, USDA-RHS)
5.325% (Conventional)

Maximum Purchase Price Limits		Maximum Income Limits
	New and Existing Residences		1-2 Persons	or More Persons
Non-Targeted Areas:	$156,970	Non-Targeted Areas:	$53,000	$60,950
Targeted Areas:	$191,852	Targeted Areas:	$63,600	$74,200

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