Frequently Asked Questions About TSAHC

Is TSAHC a state agency?
No. TSAHC was created by and gets its authority from the Texas Legislature, however TSAHC is legally separate from the State and receives no appropriated funds. Created in 1994 for the sole purpose of providing safe, decent, and affordable housing to lower-income Texans, TSAHC's programs and operations are self-supporting, without using state-appropriated funds, and is therefore incorporated as a private, non-profit corporation governed by an appointed, non-salaried Board of Directors. TSAHC revenues are generated solely through program fees and investments.

TSAHC is not a bank, savings bank, savings and loan association, or other form of financial institution.

What makes TSAHC programs different from similar programs, such as ones offered by the Texas Department of Housing and Community Affairs or city programs?
While the bond financing mechanism of MRB single family homebuying programs are very similar, the intended targets the programs are designed to reach often vary, from a very general scope of low-to-moderate income homebuyers, to a more narrowly defined potential homebuyer description. In this case, the intended target for the TSAHC single family programs has been narrowly defined to include only professional educators, firefighters, and police officers as designated by the Texas Legislature to reward and encourage persons working in these professions to continue by offering them a greater chance of achieving homeownership.

How can you be self-supporting?
TSAHC generates revenue from fees that it charges to lenders and developers who participate in our single family and multifamily programs. TSAHC also generates some investment income.

Who monitors TSAHC programs?
In addition to the Texas Legislature, bond issuances by TSAHC are subject to review and approval by the Texas Bond Review Board, and the corporate financials are subject to audit by the State Auditor.

Who is eligible for TSAHC programs?
TSAHC 's mission is to increase access to, and availability of, safe, decent, and affordable housing. TSAHC does this by removing barriers that face lower-income Texans in their search for housing – whether it's buying a home, or renting an apartment – in order to provide a better quality of life. Anyone who falls within the maximum income threshold is considered eligible for our multifamily rental housing. Additional requirements apply to our single family homebuying programs.

Current homebuying programs target Texas professional educators, firefighters and police officers. Developers seeking to increase the availability of affordable rental units in areas targeted by TSAHC's Board of Directors are eligible for multifamily private activity bond and direct lending programs. Only 501(c)(3) organizations are eligible for the multifamily 501(c)(3) bond program.

Is there a residency requirement for program participation?
TSAHC programs do not require a buyer or tenant to have lived in Texas for a certain period of time; however, all participants must currently be Texas residents, and for the single family homebuying programs, the home to be purchased must be in Texas and used as the primary residence of the homebuyer.