Home Buyer Programs

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.

• 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 and purchase price 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
• May be used with any fixed-rate loan product or combined with TSAHC's Down Payment Assistance. 
• FREE for those Texas Heroes also using TSAHC's Down Payment Assistance. *Some exclusions apply.
• ​Income limits vary by county. Expanded income and purchase price limits available in targeted areas.
• Exclusively for first-time home buyers

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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.

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.

Take the Eligibility Quiz