Montgomery County Easter Seals Down Payment Program for 2024
Builders, Realtors, Lenders, and other Housing Professionals came together and were able to bless many families. The following statistics reflect the success of the Montgomery County Down Payment program for 2024.
- 35 families purchased their first home with Montgomery County HOME fund assistance
- A total of $441,000 of HOME funds dispensed
- Mortgage loans totaling $6,726,412 granted
- Average Loan - $192,183.20
- Total borrower’s cash invested $136,569
- Average monthly housing payment $1,386.80
- Mortgage payment range - $918.77 – $2,07.05
- Average interest rate 5.22%
- Interest Rate range – 3.99% - 6.875%
- Purchase price of the home ranged from $ 139,900 - $260,575
- Average purchase price $173,145.93
- Total appraised value of properties $ 8,999,420
- Total Mortgage Loans - $6,726,112
- Homebuyer family household income ranged from $ 34,737 - $ 80,797
- Homebuyer ranged in age from 22 to 72
- Average annual property tax $ 3,027
Number of Properties Purchased in the following Zip Codes:
77301 – 1
77303 – 3
77306 – 8
77315 – 3
77318 – 3
77354 – 2
77355 – 1
77356 – 2
77357 – 6
77372 – 4
77378 – 4
The partnership with this down payment program and first time home buyers has not only been invaluable in providing homeownership opportunities, but also appreciating assests to low-income households. The average appreciation rate of homes purchased by families using the down payment assistance program in 2019 is 38.86%. The Easter Seals Program has been a pivotal component to building generational wealth through homeownership.