Apr 27 2016 Have You Heard About The Texas First Time Homebuyer Assistance Program

Dated: 04/27/2016

Views: 179

 The Texas Department of Housing and Community Affairs (TDHCA) has a variety of mortgage products designed to help more Texans become homeowners. TDHCA-administered programs target first-time homebuyers, veterans, or those who have not owned a home in the past three years. 

 
TDHCA Texas Homeownership Division offers two types of assistance:
30-year fixed low interest rate mortgage loans with up to 5% of loan amount to assist with down-payment and/or closing cost. Mortgage Credit Certificates that provide the home buyer with up to $2,000 every year as a special federal income tax credit based on the interest paid on the mortgage loan.  

Who is eligible for the homeownership programs? 
TDHCA's homeownership programs are designed for first time homebuyers or homebuyers who have not owned a home as their primary residence within the past three years. Potential homebuyers must also meet program income guidelines and program purchase price limits. Additional credit and underwriting guidelines may apply. 

What type of home can I buy?
Any new or existing home in the state of Texas that does not exceed the maximum purchase price limits of the program. All homes purchased under this program must meet certain quality standards

How do I apply for the funds? 
TDHCA does not actually loan you the money. The mortgage loan funds are available through a network of participating lender partners located throughout the state. 

How do I find a lender in my area?
Visit the Lender Locator to find a lender in your area. If you are already working with a lender, please call the TDHCA Homeownership Division at 1-800-792-1119 to see if that lender's mortgage company is approved to assist with TDHCA's Homeownership Programs. New lenders are always welcome to participate. 

Latest Blog Posts

Lowest Mortgage Rates In History What It Means For Homeowners And Buyers

In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others

Read More

Add Value To Your Home With These 9 DIY Improvements

Whether you’re prepping your house to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and

Read More

Beer Plant Take Two

In the middle of the pandemic one of the things I missed the most, was eating the best food that Austin offers. Although The Beer Plant did not close and was offering pick-up and delivery, they

Read More

4303 Manzanillo Dr Austin Tx 78749

4303 Manzanillo dr Austin Tx 78749 Open House Sunday 12 to 3PMPlease Join us while viewing Move-in ready two-story 3bdrm/2.5bth Home in Maple Run.   Location, location,

Read More