September 16, 2024
Categories: Press Releases
The Texas State Affordable Housing Corporation (TSAHC) is committed to expanding housing opportunities and addressing long-standing barriers to homeownership. In honor of Hispanic Heritage Month, TSAHC is participating in several events statewide to spread the word about housing programs proven to make homeownership more attainable. These events include the Alvin Historical Society Hispanic Heritage Festival (September 6th), the Arlington Public Library Health and Wellness Fair (September 21st), and the City of DeSoto Hispanic Heritage Festival (September 21st).
Recognizing that home buyers may have questions about homeownership, TSAHC is also hosting a Facebook Live Q&A session on September 18th and releasing a podcast interview with top lender Clarissa Hernandez with Waterstone Mortgage on October 4th with more information about available assistance opportunities.
TSAHC provides home-buying assistance through two programs: the Homes for Texas Heroes Home Loan Program and the Home Sweet Texas Home Loan Program. Both programs are designed to improve access to homeownership by providing fixed-rate mortgage loans and up to 5% of the loan amount to help with the down payment and/or closing costs. TSAHC also offers a mortgage credit certificate that helps save 15% on the mortgage interest every year. Interested home buyers are encouraged to take the Eligibility Quiz for more information.
“TSAHC’s programs address one of the primary barriers to homeownership—saving for the down payment,” said David Long, TSAHC President. “By providing assistance of up to 5% of the loan amount, TSAHC can help interested home buyers purchase a home sooner and preserve their hard-earned savings for home maintenance, insurance, and other ongoing costs of homeownership.”
TSAHC’s program data confirms that these programs are effective in reducing barriers to homeownership, particularly among people of color, as 58% of the 11,240 home buyers utilizing TSAHC's programs in 2023 identified as a person of color. TSAHC also provides its homeownership education materials in both English and Spanish to mitigate language barriers and improve access among Spanish speaking households.
TSAHC has also joined forces with the Harris County Homeownership Collaborative to help launch Own the HOU, a campaign funded by the Wells Fargo WORTH Initiative that aims to create 5,000 new homeowners of color in Harris County. To date, participating agencies have created homeownership opportunities for more than 2,400 home buyers of color in Harris County. Click here for more information on this initiative.
