That philosophy motivates his work with the Bright Spark Grant, a program offering up to $15,000 in down payment assistance.
Bailey's passion for homeownership runs in his family. He works alongside his sister at Cornerstone Home Lending, Cornerstone Capital Bank’s mortgage division. Their mother retired from Cornerstone after five decades in the industry. When Bailey joined Cornerstone in March, he stepped into a unique role—introducing innovative programs such as the Bright Spark Grant through Roscoe Bank's established presence in the community.
Roscoe Bank has served Bastrop County since 2004, building the deep trust that makes Bailey's work possible. A loan officer with 25 years of experience, Bailey spends every Wednesday in the county, having conversations that change perspectives on homebuying.
“A lot of people are saying they’re not ready,” Bailey said. “How do you know what ready looks like? Let’s talk about it and see what homeownership readiness actually means for your situation.”
Bailey recently helped a couple who illustrates his point. Renting an apartment with family, they assumed they'd need years to save for a down payment. After learning about Bright Spark, they went from window shopping to homeownership for a fraction of what they thought they'd need.
The Bright Spark Grant provides eligible Bastrop County homebuyers up to $15,000 in down payment assistance, which is forgiven from day one. Whether you're in Bastrop, Cedar Creek, Elgin, Smithville or other areas throughout the county, the program creates instant equity—unlike other assistance programs that require years of payments before forgiveness.
Beyond first-time buyers
What surprises Bailey is how Bright Spark creates opportunities beyond helping first-time homebuyers.
"Local sellers can let buyers know they could get up to $15,000 in down payment assistance," Bailey said. "That frees up the buyer's money for closing costs, rate buydowns or other expenses. Sellers can make their property stand out while giving buyers more flexibility.”
New construction homes are eligible, so builders use Bright Spark to better engage with potential buyers. Even when the program isn't the right fit, Bailey's team often converts those conversations into closings with other financing options.
"Sometimes builders offer deals I can't match, and I'll tell people to take them," Bailey said. "My job is finding the solution for you, even if it’s not with me."
The partnership between Cornerstone and Roscoe Bank represents their shared commitment to supporting Bastrop County's growth and economy. For Bailey, this collaboration allows him to leverage trusted community relationships while bringing expanded resources to help residents achieve homeownership.
Another big misconception to overcome is online credit scores that don't reflect actual mortgage qualification criteria.
"We've all made mistakes. This is a no-judgment zone," Bailey said. "Until we have a real conversation, you have no idea where you stand."
$15K closer to your front door
To be eligible for the Bright Spark Grant, you must purchase a primary residence in Bastrop County and meet one of these requirements:
- Be a first-time buyer (haven't owned a home in the past three years)
- Buy in a designated low-to-moderate-income area
- Earn an income less than $107,039
- Up to $15,000 or 3.3% of sales price in assistance, whichever is less
- Assistance is 100% forgivable—no repayment required
- Available with Veterans Affairs (VA), United States Department of Agriculture (USDA) and conventional home loans
"Don’t be afraid to give life a shot. We're just people. Let's get vulnerable together and see what's possible for you,” he said.
To learn more, contact Allen Bailey (NMLS 2327067) at [email protected] or 936-333-0867. Roscoe Bank, a Division of Cornerstone Capital Bank, SSB. Member FDIC. NMLS ID #2258.
