Mariner Pointe at Little

What Mariner Pointe at Little's governing documents say

This document is a deed restriction for the property at 500 Port Lavaca in Mariner Pointe at Little Elm, Texas. It is part of the Homebuyer Equity Leverage Partnership (HELP) program, which provides a direct subsidy to assist with home purchase. The restrictions bind the current and future owners of this specific property and are not a full set of community rules for the subdivision.

• Affordability & income limits: The direct subsidy (up to $4,500) is for low- or moderate-income households (income ≤80% of area median). Upon sale within the 5-year Retention Period, repayment may be required unless the buyer also qualifies as low/moderate-income.
• Retention period & repayment: For the first 5 years after closing, a prorated share of the subsidy must be repaid to the Bank from any net gain on sale or refinancing. The repayment amount decreases by 1/60 for each full month the owner has owned the property.
• Subordination to liens: These restrictions are subordinate to any prior recorded lien. Foreclosure of a prior lien will extinguish these restrictions, but the Bank must be notified of any foreclosure during the Retention Period.
• What this document doesn't cover: This is a single-property affordable housing deed restriction. It does not contain community-wide rules about pets, parking, architectural control, common area maintenance, or other typical HOA or condominium regulations. It applies only to 500 Port Lavaca, not to the entire Mariner Pointe subdivision.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.