Texas Department of Housing & Community Affairs - Building Homes and Strengthening Communities

$7.5 million ready for homebuyers in advance of federal tax credit

Are you one of thousands of Texans eager to take advantage of the new federal homebuyer tax credit but don’t have the cash for a down payment? If so, TDHCA may have the answer to your problem.

The Department has released $7.5 million through two innovative second-lien mortgage programs providing short term loans for down payment and closing costs. The homebuyer can then use their tax credit payment to repay the loan.

Borrowers must first complete a homebuyer education class and certain restrictions apply. However qualifying homebuyers are encouraged to act quickly, as the home purchase must be completed no later than December 1, 2009.

For more information about these and other TDHCA homebuyer assistance programs, visit www.myfirsttexashome.com or call 1-800-792-1119. If you are ready to take that step toward homeownership, TDHCA is ready to help you.