$16 Million in Homebuyer Funds Available for 22 Counties Hit by Rita
TDHCA is making $16 million available for home loans through its Texas First Time Homebuyer Program and Mortgage Credit Certificate Program to qualifying homebuyers in 22 counties designated by the federal government as the Hurricane Rita Gulf Opportunity (GO) Zone. These funds will assist residents in this region purchase a home and begin to rebuild lives shattered by the hurricane. The Department will make these loans available through participating lenders in the region.
Counties contained within the Rita GO Zone include: Angelina, Brazoria, Chambers, Fort Bend, Galveston, Hardin, Harris, Jasper, Jefferson, Liberty, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Shelby, Trinity, Tyler, and Walker.
Provisions of the Gulf Opportunity Zone Act of 2005 have made it possible for TDHCA to make these loans available to qualified borrowers at a low 4.99% interest rate or issue a Mortgage Credit Certificate through participating lenders to purchase a home within the Texas Rita GO Zone. Under the Rita GO Zone provisions, eligible borrowers can qualify with higher incomes than those allowed under other TDHCA homebuyer programs, and the first time homebuyer requirement is waived.
Households living in these 22 counties who are interested in contacting a participating lender or learning more about program requirements can visit www.myfirsttexashome.com or call 800-792-1119 for more information. Texans living outside this 22-county region are also encouraged to visit this website to learn about TDHCA’s other homebuyer programs. Read the TDHCA press release (PDF).