IMPORTANT COVID-19 INFORMATION FOR PARTICIPATING LENDERS
TSAHC provides 30-year fixed interest rate mortgage loans, down payment assistance grants, and mortgage credit certificates through the following programs. These programs are offered through a network of approved mortgage lenders.
Unless otherwise stated, the interest rates listed below apply to both the Homes for Texas Heroes and Home Sweet Texas Home Loan Programs.
COVID-19 Update: Despite the recent volatility of the market, TSAHC’s home buyer programs continue to be available to qualified home buyers. Our interest rates and available assistance options fluctuate daily based on market conditions, but at this time we do not anticipate additional impacts to our programs or eligibility requirements.
Assistance Type | Min FICO Score | DPA Amount | ||
---|---|---|---|---|
Grant | 3% DPA | 4% DPA | 5% DPA | |
FHA/VA/USDA(Non-Bond) | 620* | 2.875% | 3.125% | 3.500% |
3-year Deferred Forgivable 2nd Lien | 3% DPA | 4% DPA | 5% DPA | |
FHA/VA/USDA(Non-Bond) | 620* | 2.750% | 3.000% | 3.375% |
Conventional- HFA Advantage & HFA Preferred Above 80% AMFI (Non-Bond) | 640 | 3.375% | 3.500% | 3.750% |
Conventional- HFA Advantage & HFA Preferred 80% AMFI and Below** (Non-Bond) | 640 | 3.125% | 3.375% | 3.500% |
* Origination fee of .50% charged on 620-639 FICO government loans (FHA, VA, USDA). Temporary Overlay effective May 4, 2020: In response to the COVID-19 pandemic, the following interim guidance will be effective with all locks on or after May 4, 2020 - the minimum FICO score for FHA, VA and USDA products is 700 when the DTI is >45%.
** To be eligible for the Below 80% AMFI conventional loan, borrowers must be at or below 80% of the area median family income (AMFI). Learn more here.
TSAHC was created in 1994 as a self-sustaining nonprofit housing organization. At TSAHC we believe that every Texan deserves the opportunity to live in safe, decent and affordable housing. Our programs target the housing needs of low-income families and other underserved populations in Texas who do not have acceptable housing options through conventional financial channels. All TSAHC programs are offered statewide, with special attention given to rural areas and other select target areas.
6701 Shirley Avenue
Austin, TX 78752
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Homebuyer Toll Free: 877-508-4611
General Toll Free: 888-638-3555
Main: 512-477-3555
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