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