Programs

PROGRAMS AND SERVICES

Lubbock Housing Finance Corporation provides various programs and services that promote economic development and encourage the building of long-term assets for individuals and neighborhoods. Unless otherwise noted, these programs and services are available to persons living in Lubbock and surrounding counties.

PROGRAMS

Down Payment Assistance

Lubbock Housing Finance Corporation provides or has access to various programs that assist persons who qualify for a mortgage loan but lack the cash needed for a down payment and related closing costs.

Interested persons should call 806-744-KEYS (806-744-5397) for more information.

Mortgage Lending

Lubbock Housing Finance Corporation originates mortgage loans insured by the Federal Housing Administration (FHA) to qualified persons. To determine whether or not a person may pre-qualify for a loan, the following is needed:

	paystubs covering the most recent four-week period
	two most recent bank statements for each account, if applicable
	W-2's for the most recent two years
	other documentation determined by LHFC
	$15.50 (individual) or $21 (married couple) for credit report
	A person who does not have traditional credit (such as loans, credit cards, etc.) may still be able to qualify for a FHA loan
	If a person cannot pre-qualify due to poor credit, budget and credit counseling services are available.

Interested persons should call 806-744-KEYS (806-744-5397) for more information.

Construction Financing

Lubbock Housing Finance Corporation provides financing to qualified builders for the construction of affordable single-family homes in the cities throughout Lubbock County. Interest rates on these loans range from 0% to 6% with the most favorable rates available for homes built in targeted neighborhoods and sold to low income persons.

Interested builders should call LHFC at 806-745-9559 for more information.

Small Business Lending

Lubbock Housing Finance Corporation provides administrative and loan packaging services for High Plains Community Capital, LLC ("HPCC"), a regional multi-bank community development company. Its primary purpose is to benefit low-to-moderate income people and/or areas by making non-traditional loans to small business owners. HPCC serves the South Plains, a 15-county region which includes the following counties and cities therein: Bailey, Cochran, Crosby, Dickens, Floyd, Garza, Hale, Hockley, King, Lamb, Lubbock, Lynn, Motley, Terry, Yoakum.

The following banks with locations throughout the region have invested in High Plains Community Capital

American Bank of Commerce (Lubbock, Wolfforth)

American State Bank (Brownfield, Floydada, Levelland, Littlefield, Lubbock, Plainview, Slaton)

City Bank (Floydada, Levelland, Lockney, Lubbock, Morton, Olton, Springlake, Whiteface)

First Bank & Trust (Lubbock)

Lubbock National Bank (Lubbock)

Security State Bank (Littlefield, Lubbock, Olton)

State National Bank (Lubbock, Plainview)

Wells Fargo Bank (Denver City, Lubbock, Plainview, Post)

Persons interested in a small business loan, or who have been denied a loan due to credit problems, should go to www.highplainscc.net or call HPCC at 806-771-3742 for an appointment.