Dear Homebuyer:

As you may have discovered by now, there are a lot of different down payment assistance gift fund programs out there. All of them give you money to help with your down payment from funds that are raised by home sellers. Does it really matter which down payment gift fund program you use?

Yes. The Texas Cares ProgramSM not only assists you with your down payment, it also requires the seller to contribute money to an organization that is committed to increasing home ownership, AmeriDream (www.ameridream.org). The Texas Cares Program also uses the latest internet-based technology to ensure that your down payment assistance gift funds are at the closing table when you are.

Getting Started

1. Learn More About the Home Buying Process

We encourage you to learn all that you can about the home buying process. We recommend the following links:

“Common Questions From First time Homebuyers” provided by the U.S. Department of Housing and Urban Development (“HUD”)

“Becoming a Homeowner” provided by Fannie Mae

“How Much Can I Afford?” provided by Ginnie Mae

2. Get Pre-Qualified by an FHA-Approved Lender

The Texas Cares Program works best with loans that are insured by the Federal Housing Administration (“FHA”). FHA offers a listing of approved lenders. The image below is a picture of FHA’s Lender List web page. Simply “click” the image to go the page. Select “Title II-Mortgage Programs" under Insurance Type.

3. Identify an Eligible Home

The Texas Cares Program requires that the seller contribute money to the source nonprofit, AmeriDream, Inc., in order for the seller’s home to be eligible for purchase under the program. Your lender should be familiar with real estate agents or homebuilders who can assist you with this step. If your lender, real estate agent, or homebuilder is not familiar with down payment assistance gift fund programs, simply direct them to this website, www.TexasCaresProgram.org.

Let us be the first to congratulate you. You will soon be a homeowner!

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