June is Homeownership Month!
Throughout Homeownership Month, TDHCA reminds those ready to become homeowners that TDHCA can make the purchase more affordable. Ask any participating lender about TDHCA's homebuyer assistance programs!
As part of June's celebration of Homeownership Month, TDHCA is pleased to announce that it will be waiving the Compliance File Review Fees on all TMP-79 and TMP-79/MCC Combos. The waiver will be effective on reservations made on or after Monday June 2, 2014 and throughout the remainder of the month. We are pleased to make this offer to further assist homebuyers in their efforts to attain the dream of homeownership.
Current Compliance File Review Fees:
TMP-79 Compliance File Review Fee - $225 (waived for the month of June 2014)
TMP-79/MCC Compliance File Review Fee - $275 (waived for the month of June 2014)
TDHCA Homebuyer Assistance Programs
The My First Texas Home program offers mortgage loans at fixed, low interest annual percentage rates and down payment and/or closing cost assistance to qualifying first time homebuyers or households who have not owned a home in the previous three years. Homebuyers may combine TDHCA homebuyer and mortgage credit programs for maximum benefit.
The Texas Mortgage Credit Program allows qualified buyers to claim a credit of up to $2,000 against federal taxes based on a percentage of annual mortgage interest paid. It increases a family's disposable income by reducing its federal income tax obligation. The tax credit is valid for the life of the loan as long as the borrower occupies the property as their primary residence. Homebuyers may combine mortgage credit and TDHCA homebuyer programs for maximum benefit.
HOMEbuyer Assistance Program (HOME HBA) » Visit Help for Texans
The HOMEbuyer Assistance Program provides down payment and closing cost assistance for homebuyers of single family housing units, and may include rehabilitation for accessibility modifications.
Texas Bootstrap Loan Program » Visit Help for Texans
This is a self-help construction program to provide very low-income families an opportunity to help themselves through the form of sweat equity. Participants under this program are required to provide at least 65 percent of the labor necessary to build or rehabilitate the home ("sweat equity").