New home sales jumped last month across the United States, and now Wichita Falls wants to help boost home sales in the city.
Officials have created a First-Time Home Buyers Program. The FTHB program provides more than $4,000 to qualified applicants. The money can be used for closing costs, down payment requirements or reducing the mortgage loan principal.
In addition, the buyer's potential new house could qualify for the Minor Repair Program. The program provides limited assistance after closing for certain types of repairs: water heaters, heating/cooling systems, electrical system upgrades or other limited minor repairs.
Applicants must be low to moderate income, cannot have owned a home within the previous three years, and be able to qualify for a standard mortgage loan. The home must be within the Wichita Falls city limits, but not in the 100-year floodplain.