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.
To learn more about becoming an approved lender, click on the video below.
Unless otherwise stated, the interest rates listed below apply to both the Homes for Texas Heroes and Home Sweet Texas Home Loan Programs.
Assistance Type | Min FICO Score | DPA Amount | |||
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2% DPA | 3% DPA | 4% DPA | 5% DPA | ||
FHA/USDA/VA(Non-Bond) | 620* | 7.250% | 7.625% | N/A | N/A |
Assistance Type | Min FICO Score | DPA Amount | |||
---|---|---|---|---|---|
2% DPA | 3% DPA | 4% DPA | 5% DPA | ||
BOND - FHA/VA/USDA (Limited Availability)*** | 620* | N/A | N/A | N/A | N/A |
FHA/VA/USDA(Non-Bond) | 620* | 6.625% | 6.875% | 7.125% | 7.375% |
Conventional- HFA Advantage & HFA Preferred Above 80% AMFI (Non-Bond) | 640* | 7.125% | 7.375% | 7.750% | 8.000% |
Conventional- HFA Advantage & HFA Preferred 80% AMFI and Below(Non-Bond)** | 640* | 6.875% | 7.250% | 7.500% | 7.875% |
Mortgage Credit Certificate |
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The MCC is now available in combination with our Down Payment Assistance program. **Please note: Effective for locks on and after January 16th, 2025, and for a limited time only, we will offer a 20% credit rate with our MCC program vs. a 15% credit rate. This means that a home buyer can recieve 20% of their mortgage interest back when they file their income taxes every year they live in their home. This will be for a limited time only and first-come, first-served. MCC Benefits:
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The stand-alone MCC is no longer available. |
*Lenders can charge a 1% origination fee and other customary fees. In addition, an origination fee of .50% can be charged on 620-639 FICO government loans (FHA, VA, USDA). Please consider fees when shopping for a lender. Furthermore, the minimum FICO for manufactured homes (Gvt loans only) is 640.
**To be eligible for the 80% AMFI and Below conventional loan, borrowers must be at or below 80% of the area median family income (AMFI). Learn more here.
***This is only available to first-time home buyers (unless you are a Qualified Veteran or purchasing a home in a targeted area) and to those borrowers that are at or below 80% of the area median family income (AMFI). Learn more here.