June is National Homeownership Month, and we want to take this opportunity to educate Texas home buyers about TSAHC’s Home Sweet Texas Home Loan Program. This program provides eligible low and moderate-income home buyers with a fixed rate mortgage loan and a grant of up to 5% of the loan amount for down payment assistance.
Want to learn more? We’ve provided answers below to some of our most frequently asked questions.
- Who can use the Home Sweet Texas Program?
The Home Sweet Texas Program is a great option for all eligible home buyers in Texas that can afford the ongoing expenses of homeownership, but need a little extra help with their down payment.
- What are the requirements?
To qualify, you must meet certain income requirements and have a credit score of at least 620. Take the eligibility quiz to see if you meet the income requirements.
- Do I have to meet any specific profession requirements?
No. Unlike TSAHC’s Homes for Texas Heroes Home Loan Program, you do not have to meet specific profession requirements for the Home Sweet Texas Program. This program is open to all qualified home buyers purchasing a home in Texas, regardless of their profession.
- How do I apply?
You must work with one of TSAHC’s approved lenders to apply for the Home Sweet Texas program. The lender will help you fill out the application and ensure that you meet all of the requirements. Click here to find a participating lender.
- Can I also apply for a Mortgage Credit Certificate?
If you are first-time home buyer (defined as not having owned a home within the past three years), you can also apply for a Mortgage Credit Certificate (also known as an MCC). An MCC is a special mortgage interest tax credit specifically for first-time home buyers that can save you up to $2,000 every year on your income taxes.
To celebrate June as homeownership month, TSAHC is going to focus our blog posts this month specifically on promoting the benefits of our Home Sweet Texas program. We’ll also provide resources for newlyweds, renters and millennials who may be interested in using TSAHC’s Home Sweet Texas program to purchase a home of their own. Stay tuned!
On the House blog posts are meant to provide general information on various housing-related issues, research and programs. We are not liable for any errors or inaccuracies in the information provided by blog sources. Furthermore, this blog is not legal advice and should not be used as a substitute for legal advice from a licensed professional attorney.