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Home Buyer Programs

Home Buyer Programs

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.

Homes for Texas Heroes Home Loan Program: for teachers, fire fighters and EMS personnel, police and correctional officers, and veterans.
Home Sweet Texas Home Loan Program: for Texas home buyers with low and moderate incomes.

Loans w/ Down Payment Assistance:

Credit scores as low as 620
No max DTI w/AUS approval
Low fees
Third Party Originators allowed
FHA manual underwrites allowed up to 43% DTI with no additional fee (640 minimum FICO score required)
FHA non-traditional credit allowed with no additional fee
Income limits vary by county. Expanded income limits available in targeted areas.

Mortgage Credit Certificates (MCC):

A special tax credit that reduces a home buyer's federal income tax liability every year
Helps the home buyer qualify by reducing the DTI
No minimum credit score or maximum DTI requirements
Must be combined with TSAHC's Down Payment Assistance.
FREE for those Texas Heroes.
Income limits vary by county. Expanded income and purchase price limits available in targeted areas.
Exclusively for first-time home buyers

To learn more about becoming an approved lender, click on the video below.

Today's Interest Rates:

Unless otherwise stated, the interest rates listed below apply to both the Homes for Texas Heroes and Home Sweet Texas Home Loan Programs.

No DPA

Assistance Type	Min FICO Score	DPA Amount
Assistance Type	Min FICO Score	0% DPA
FHA/USDA/VA	620*	6.500%
Conventional- HFA Advantage & HFA Preferred Above 80% AMFI	640*	6.750%
Conventional- HFA Advantage & HFA Preferred 80% AMFI and Below	640*	6.625%

Grant

Assistance Type	Min FICO Score	DPA Amount
Assistance Type	Min FICO Score	2% DPA	3% DPA	4% DPA	5% DPA
FHA/USDA/VA(Non-Bond)	620*	7.125%	7.625%	N/A	N/A

3-year Deferred Forgivable 2nd Lien

Assistance Type	Min FICO Score	DPA Amount
Assistance Type	Min FICO Score	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%	6.750%	7.000%	7.375%
Conventional- HFA Advantage & HFA Preferred Above 80% AMFI (Non-Bond)	640*	7.125%	7.250%	7.500%	7.750%
Conventional- HFA Advantage & HFA Preferred 80% AMFI and Below(Non-Bond)**	640*	7.000%	7.125%	7.375%	7.625%

Mortgage Credit Certificate
The MCC is now available in combination with our Down Payment Assistance program. The credit rate is now 15%.
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 .25% 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.}

Take the Eligibility Quiz