For eligible families there are 8 steps to owning your own home.
- Stop by our office to pick up an application or print the application from this page. Start collecting the documents required for the application.
- Visit one of our approved lenders to get approved for a home mortgage loan:
First Basin Credit Union
2740 N County Rd W
Odessa, TX 79764
1541 JBS Parkway Suite 16
Odessa, RX 79761
3815 E 52nd Street
Odessa, TX 79762
3. Bring in your completed application, along with all the required documents and your Mortgage
Approval Statement issued by the bank, to our office. Allow 7—10 business days for us to
process your application. You will receive a letter in the mail.
4. Upon final approval, you will need to attend a Homebuyer’s Education Course provided by:
5. Start looking for a home! The HOME program allows you to purchase a newly constructed home that does not
exceed 95% of the maximum allowed by the U. S. Department of Housing and Urban Development, or an existing
home priced up to $95,000.
Owner financed properties or manufactured or mobile homes are not eligible.
Homes must be located within the Odessa city limits.
6. When you have found a home you’d like to make an offer on, you must contact our office. The
home must pass an inspection by our office. You also need to submit a HUD notice to the
seller, and have the seller sign and return it to our office, before you can sign a contract
on the home.
7. You will provide 1% of the sales price of the home toward the purchase of the home. You will
also list the City of Odessa, Community Development Department, P. O. Box 4398, Odessa,
Texas 79760 as the Second Lien Holder on your Homeowners Insurance policy and provide a
copy of the Declaration Page reflecting this to our office.
8. Move in! Make the home your primary residence, and report to our office on an annual basis.