The City Of El Paso, Texas - www.elpasotexas.gov

The mortgage revenue bond program can benefit REALTORS^® by widening their market segment to include individuals who, with down payment and closing cost assistance, can now afford to own a home where previously this was not possible.

REALTORS^® will likely have two main issues to deal with in order to facilitate HFC assistance loans to their buyers: 1) Determining if the property qualifies for Targeted vs. Non-target/ Designated Area down payment assistance to the buyer and, 2) getting the buyer to one of the participating lenders. For a list of lenders participating in this program, see the “HFC Participating Lenders” section and “Frequently Asked Questions” section.

Determining if the property qualifies for Targeted vs. Non-target/Designated Area assistance

To find out what streets are in a census tract, just click on the census tract number in the table below and it will take you to the map. You can download each census tract map and zoom in to identify streets.

You will note that the table has two sections. The top section comprises the census tracts that qualify under the Targeted Area Guidelines.

The bottom section census tracts qualifies for the full down payment assistance, but buyers must meet the Non-Targeted Area income and purchase price limits.

Sorry if it’s confusing, but the City wants to make sure that our core neighborhoods get all the help we can give them, even if they do not actually fall within the Federal limits for an economically distressed area! Also, the first time homebuyer provision is waived if the buyer is purchasing in the Targeted Areas. So, buyers within the stated income limits can take advantage of the program even if they already own a home or recently owned one.

The participating lenders should be able to answer any questions about how a property and a buyer qualify for assistance.