All Home Buyers:
The Texas State Affordable Housing Corporation's (TSAHC) is excited to announce that existing or previous homeowners are now eligible for TSAHC's down payment assistance programs. Previously available only to first-time home buyers, existing or previous homeowners can now take advantage of the program's low fixed mortgage interest rate of 4% and a down payment assistance grant equal to 5% of their loan amount.
First-time Home Buyers:
The first-time home buyer requirement is still part of TSAHC's Mortgage Credit Certificate Program (MCC) which provides home buyers with an annual federal tax credit of up to $2,000 a year and is based on mortgage interest paid annually. However, eligible first-time home buyers can now take advantage of BOTH the MCC Program and the down payment assistance programs.
All Other Program Requirements Remain The Same!
- Professional Educators Home Loan Program: Must be a full time Classroom Teacher, Teacher Aide, School Librarian, School Nurse or School Counselor employed by a public school district in the state of Texas; or a full time faculty member of either an undergraduate or graduate professional Nursing or Allied Health program in the State of Texas.
- Homes for Texas Heroes Home Loan Program: Must be a full time paid Firefighter, Emergency Medical Services Personnel, Peace Officer, Corrections Officer, Juvenile Corrections Officer, County Jailer, or a Public Security Officer working in the State of Texas.
- Home Sweet Texas Home Loan Program: Must be a family or individual whose annual household income is at or below 80% of the area median family income (income limits available at www.tsahc.org).
Additionally, a home buyer must:
- Meet minimum credit requirements;
- Meet income and home purchase price limits (available at www.tsahc.org);
- Occupy the purchased home as their primary residence;
- Complete a HUD approved homebuyer education course prior to closing on the home loan; and
- Reside in the State of Texas;
Questions? Please contact Paige Omohundro at firstname.lastname@example.org or at 512-477-3561. Eligible home buyers can apply directly through a participating mortgage lender listed on TSAHC's website at www.tsahc.org.