What is a Bond Loan?
A bond loan is a type of mortgage where a portion of the costs of borrowing are partially subsidized by a mortgage revenue bond. These bonds may be issued by cities, states or other entities and are frequently used in first-time buyer programs that provide down payment and/or closing cost assistance for borrowers.
In many instances these bonds are designed for low to moderate income borrowers or to incent borrowers to purchase homes in underserved areas.
PrimeLending offers a number of bond loan programs in the West Texas area.
Contact your PrimeLending loan officer for more information.