Contact: Joe Ascencio
Address: 1116 N. Conway Ave.
Mission, TX 78572
Phone: (956) 581-9494
Fax: (956) 584-5716

Amigos del Valle is a private non profit corporation chartered in 1974 that has become the largest non-profit developer and manager of housing for Senior Citizens south of San Antonio. In light of the tremendous need for affordable housing in the Rio Grande Valley, and because of its experience in the delivery of housing services, Amigos del Valle implemented a few years ago a new initiative in the creation of single-family housing. Amigos del Valle now assists low and moderate income families to obtain safe, decent, and affordable home ownership.

Homeownership Program
 

Eligibility Criteria:

• Must demonstrate ability to repay & good credit history
• Repayment ratios are 29/41 for very low income borrowers and 33/41 for low income borrowers.
• Annual income must not exceed Low Income Limits (as adjusted for family size) for Hidalgo County:

Lease Purchase Program
 

Eligibility Criteria:

• Must demonstrate a willingness to correct credit history.
• Annual income must not exceed Low Income Limits (as adjusted for family size) for Hidalgo County (above).

Contact: Amy Burrows / Janet Matthews
Address: P.O. Box 850
Alamo, TX 78516
Phone: (956) 781-0157
Fax: (956) 781-0158

A nonprofit ecumenical Christian housing organization providing training and technical support for communities interested in developing decent housing in the colonias.
Housing is built through volunteer labor, homeowner labor (sweat equity), and tax-deductible donations.
To date La Frontera Initiative has facilitated the construction of homes that fit the following profile in partnership with HFH-Exodus:

House: 740 sq. ft.
Price Range: Approximately $16,000.
Terms: 0% interest over 20 years.

Eligibility Criteria:

• Houses must be built in a colonia.
• Applicants do not need to own a lot.
• Expenses may not exceed 40% of household's income.
• Applicants must be in need of a home due to the current living situation.
• Must have ability to pay.
• Must be willing to partner with the program.
• Annual income must not exceed Low Income Limits for Hidalgo County:

Contact: Valley Mortgage Co.
Address: 1319 North 10th st.
McAllen, TX 78501
Phone: (956) 682-1227
Fax: (956) 682-5644

First-Time Homebuyer Program for families in Hidalgo or Willacy Counties. Mortgage loans can be FHA-insured, VA-guaranteed, USDA-Rural Development guaranteed, or conventional, 30-year fixed rate mortgages. Points charged will include a 1% origination fee and 0.75% discount fee (total points = 1.75%). All other standard and customary fees and charges will apply. Targeted Area are considered neighborhoods historically underserved in mortgage loan origination & typically containing a high percentage of low-income households.

Terms/Interest Rate:
6.27% Available to those who do not use the Down Payment and Closing Costs Assistance.
7.125% for those who use the 4 points of Down Payment and Closing Cost Assistance.
* APR will vary by loan type and other factors.

Down Payment Assistance:
Four points provided for Down Payment and Closing Costs with the 7.125% interest rate is treated as a gift to the borrower - there is no second loan or required repayment.

Maximum purchase price for an eligible home:

Eligibility Criteria:

• First-time Homebuyer (cannot have had an ownership interest in a home in the past 3 years).
• Borrower must occupy purchased home as their principal residence.
• Must be able to qualify under normal FHA, VA, USDA-Rural Development or Fannie Mae underwriting.
• Annual income must NOT exceed the following Income Guidelines:

Contact: Bobby Calvillo
Address: 600 S. 11th St.
McAllen, TX 78501
Phone: (956) 687-6263
Fax: (956) 682-9751

MAHI provides housing opportunities to low-income families of the City of McAllen. Assistance includes rehabilitation of older homes, residential subdivision development, home construction and financing.

Houses: 3 bedroom/1 bath to 4 bedroom/2 bath.
Size Range: 985 to 1,232 square feet
Price Range: $31,000 to $36,000.
Terms: 0% to 6% interest rate up to 20 years.
Other information: Various programs available with similar terms.

Eligibility Criteria:

• City of McAllen ONLY.
• Annual income must not exceed the following HUD Income Limits:

Contact: Andy Anzaldua
Address: 1025 Anacuitas
Mercedes, TX 78570
Phone: (956) 565-3139
Fax: (956) 565-9874

Mercedes Affordable Housing Corporation is a 501(c)(3) non-profit (private) corporation. Our mission is to provide decent and affordable housing for low-income residents including minorities, women, elderly, and the handicapped. Designated as a CHDO by the Hidalgo County Urban County Program.

Houses: 3-4 bedrooms and 2 baths.
Size range:900 to 1280 sq. ft.
Terms: To be determined.
Down Payment Assistance: $3,500 through the Urban County's First-Time Homebuyer Program.

Eligibility Criteria:

• Annual income must not exceed Low Income Limits for Hidalgo County:

Contact: Beatriz Farias
Address: 1509 W. Hwy 83, Ste. D
Weslaco, TX 78596
Phone: (956) 968-6543
Fax: (956) 968-7978

M.E.T.'s main services are employment and training and supportive services. Within the training we have a Building Trades program that runs for 6 months. While trainee is learning a skill, family benefits with free labor to do home repairs. We also can assist in the application process towards a U.S.D.A. Rural Development's 502 loan or construction.

Eligibility Criteria:

• Family must have done farm work within the past 24 months.
• Must be homeowner.
• Covering all of Hidalgo, Cameron, Willacy and Starr County.
• Annual income must not exceed Low Income Limits for Hidalgo County:

Contact: David Arizmendi
Address: P.O. Box 1014
San Juan, TX 78589
Phone: (956) 702-3307
Fax: (956) 702-3309

A nonprofit housing development organization created in 1991 with the support of the United Farm Workers Union to provide housing assistance for families living in Hidalgo County colonias.
Houses are built through an owner/builder self-help approach.

House: 3 bedroom/1 bath; wood-frame.
Size: 816 sq. ft.
Price: $17,500.
Terms: 0% interest over 20 years.

Eligibility Criteria:

• 4-7 family members.
• Income between $4,500 and $14,000.
• Own or owe less than $6,000 on a lot.
• Lot must be in a Hidalgo County colonia, outside of city limits.
• Family must be living in substandard conditions or overcrowded housing.
• Family must be able to afford a $100 monthly payment.

Contact: Andrea Taylor
Address: 1701 N. 8th St. B-24
McAllen, TX 78501
Phone: (956) 686-7455
Fax: (956) 687-9266

Rio Grande Habitat for Humanity is an ecumenical, not-for-profit, housing ministry that helps needy families build and pay for simple, decent homes through partnerships with the community. Our larger goal is to eliminate substandard housing in our communities and to contribute to the work of Habitat for Humanity International.

Houses: 3 bedroom/2 bath
Price Range: $30,000-$35,000
Size: 1,000 square feet
Terms: 0% Interest Rate over 17-25 years
Down Payment: No down payment required.
Other information: Average monthly mortgage payment $250 - $350

Eligibility Criteria:

• Ability to pay - yearly family income betweeen $9,500 to $25,000
• Need for adequate shelter.
• Willingness to partner with Rio Grande Habitat for Humanity - 300 hours of work on construction of homes required.

Contact: Noe Cavazos
Address: P.O. Box 1467
Weslaco, TX 78596
Phone: (956) 968-9515
Fax: (956) 968-3724

To provide assistance to low-income families in need of a home.

Houses: 3 bedroom/1 bath
Price: $25,000
Size: 30x38 feet.
Terms: 3% Interest Rate for up to 10 years.
 

Contact: Mike Lopez
Address: 1800 N. Texas Blvd.
Weslaco, TX 78596
Phone: (956) 969-5865
Fax: (956) 969-5863

The South Texas Economic Development Corporation will be constructing 25 Homeownership single-family residential units to be built in La Joya, Texas.
Funding will be under the Rural Development Finance Corporation. Urban County Program HOME funds will fund the Interim Financing.

Houses: 2 bedroom/1 bath;
3 bedroom/2 bath;
4 bedroom/2 bath.
Size range:8 64 squ. ft. / 1,105 sq. ft. / 1,233 sq. ft.
Terms: 7% Interest Rate for up to 30 years.
Down Payment Assistance: $3,000 through Urban County's First-Time Homebuyer Program.
Other information: Terms and Interest rates are proposed.

Eligibility Criteria:

• Must be a "First-Time Hombuyer"as defined by HOME regulations.
• The applicant's ability to make a monthly mortgage payment as per the debt to income ratios and through information verification.
• Other eligibility criteria.
• Annual income must not exceed Low Income Limits for Hidalgo County:

Contact: Irma Garza
Address: 100 E. Cano
Edinburg, TX 78539
Phone: (956) 318-2619
Fax: (956) 383-5971

First-Time Home Buyers Program
 

Grant Amount: Up to $3,500.
Eligibility Criteria:

• Applicant must be a "First-Time Homebuyer" (defined as not having owned a home during the last 3 years).
• Applicant must be a resident of Hidalgo County & property must be within Hidalgo County boundaries (excluding the cities of Edinburg, Pharr, McAllen & Mission)
• Applicant must qualify for a home loan from a financial institution prior to qualifying for this program.
• Applicant must occupy property as primary residence.
• Annual income must not exceed HUD's Low Income Limits for Hidalgo County:

Contact: Yvonne Garza
Address: 2514 South I. Rd.
Edinburg, TX 78539
Phone: (956) 383-4928, ext 4
Fax: (956) 383-6088

Direct Single Family Housing Program (Section 502 Housing)
 

Terms: 33 years, interest rate in effect at loan approval.

Eligibility Criteria:

• Must demonstrate ability to repay & good credit history.
• Be unable to obtain sufficient credit from another source.
• Repayment ratios are 29/41 for very low income borrowers and 33/41 for low income borrowers.
• Applicant must occupy property as primary residence.
• Applicant must not have any outstanding Federal debts or other debarments.
• Annual income must not exceed Low Income Limits (as adjusted for family size) for Hidalgo County:

Leverage Loan Program (Section 502 Housing)
 

Terms: 33 years, interest rate in effect at loan approval.

Eligibility Criteria:

• Must demonstrate ability to repay & good credit history.
• Be unable to obtain sufficient credit from another source.
• Repayment ratios are 29/41 for very low income borrowers and 33/41 for low income borrowers.
• Applicant must occupy property as primary residence.
• Property must be located within a rural area.
• Not have any outstanding Federal debts or other debarments.
• Annual income must not exceed Low Income Limits (as adjusted for family size) for Hidalgo County:

Guaranteed Housing Loans (Section 502 Housing)
 

Terms: 30 years; Fixed Interest rate based on the VA rate of Fannie Mae Yield Rate plus .6 %.

Eligibility Criteria:

• Must file applications with an approved lender.
• Must demonstrable ability to repay & acceptable credit history.
• Repayments ratios are 29/41.
• Must not own a dwelling in the local commuting area.
• Must be without sufficient resources and unable to secure credit.
• Personally occupy the dwelling.
• Annual income must fall between the following income guidelines as adjusted for family size:

Contact: Ramon Valeriano
Address: P.O. Box 50264
Austin, TX 78763-0264
Phone: (888) 638-3555
Fax: (512) 377-3553

TSAHC is a Texas non-profit under 501 (c)(4) of the Federal Code and was established by the Texas Department of Housing and Community Affairs in May of 1994. TSAHC does not operate as a State agency and does not receive State appropriated revenues.

Texas Home Improvement Loan Program
 

Loan Amount: Up to $23,000 ($2,000 in grant for closing costs).
Terms: Maximum 20 years at 3% interest.

Eligibility Criteria:

• Borrower must own and occupy property to be improved.
• Must be current on property taxes.
• Must demonstrate ability to repay & good credit history.
• Mobile homes must be permanently affixed to the ground.
• Property must meet Housing Quality Standards or Colonia Housing Standards upon completion.
• Annual income must not exceed Low Income Limits for Hidalgo County:

Contact: Arturo Granados
Address: Administration Building
100 E. Cano, 2nd Floor
Edinburg, TX 78539
Phone: (956) 318-2619
Fax: (956) 383-5971

Families can apply through participating cities: Alamo, Alton, Donna, Edcouch, Elsa, Granjeno, Hidalgo, La Joya, La Villa, Mercedes, Palmview, Penitas, Progreso, San Juan, & Weslaco. Families in rural areas may apply directly to Urban County.

Rehab Program (Deferred Loan / Grant)
 

Deferred Loan/Grant Amount: $12,000 to $15,000

Eligibility Criteria:

• Must be homeowner of house for 5 years prior to application.
• Must be principal owner by Deed of Trust.
• Must reside in Hidalgo County (except for residents of McAllen, Edinburg, Mission and Pharr).
• Must be current on property taxes.
• Mobile homes will not be considered for rehab.
• Family must continue occupying dwelling 5 or 10 years after rehab.
• Annual income must not exceed HUD's Low Income Limits for Hidalgo County: