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.
Assistance Type | Min FICO Score | DPA Amount | |||
---|---|---|---|---|---|
2% DPA | 3% DPA | 4% DPA | 5% DPA | ||
FHA/VA/USDA(Non-Bond) | 620* | 7.125% | 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 (All areas until fully reserved)*** | 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* | 7.000% | 7.250% | 7.625% | 7.875% |
Conventional- HFA Advantage & HFA Preferred 80% AMFI and Below(Non-Bond)** | 640* | 6.750% | 7.000% | 7.375% | 7.750% |
*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.
**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.
***TSAHC Bond DPA is closed. Should you know that your file needs to be canceled, please do so ASAP. Depending on cancellations, the reservations for the bond program may reopen. Please stay tuned