Welcome to Help for Home Buyers again.  This time we’re talking about a $500 down program or option.  This can be achieved in a number of ways.  Many times direct lenders, banks, or even credit unions will have special bond programs that will become available.  Others are sometimes special organizations like the Texas Department of Housing, the City, County or other municipality.  There have even been times that other special programs are provided by non-profits or other grant funded programs.  So, there are a variety of ways that $500 down or other low down payment programs are available to the public.   

Many of these bond programs or specially funded programs will only require a small or low down payment ranging from $500 to maybe even $1,000.  These low down payment programs work in a variety of ways where the program will assist with the down payment, or the down payment and closing costs, or the program just doesn’t have a down payment requirement and the remaining investment are for closing costs only.  Again, each program can be different and work in a variety of ways.