October 6, 2015
We’re having a Fall (Fee) Fest!
The Texas Department of Housing and Community Affairs (“TDHCA”) is celebrating the season’s falling temperatures by dropping our Texas Mortgage Credit Certificate fees! So, as the year winds down, crank up the heat and your sales by offering qualifying first time homebuyers a savings of up to $1,000 when they purchase their home with a Texas MCC!
The reduced Texas MCC stand-alone Issuance fee has been temporarily reduced from its current 1% of the Mortgage Loan amount to $500!
The Texas MCC Issuance Fee is reduced to $0 when buyers combine TDHCA’s TMP 79 with a TDHCA MCC! This option provides the borrower with upfront savings of up to $1,500 to purchase the home and offers a long-term tax credit benefit - an excellent way to maximize the benefits and the savings!
To learn more about the program and eligibility requirements, select the Buyers tab or contact one of our participating lenders. To see all rate and assistance options available, visit the Available Funds page.
My First Texas Home – TMP 79 DPA PLUS
TDHCA is pleased to kick off the New Year and 2015 with the announcement of an additional down payment assistance option. Effective Tuesday January 6th, mortgage loans originated under the TMP-79 program will provide the borrower with a 30-year fixed interest rate mortgage loan and assistance, at the option of the homebuyer, in an amount equal to 5% of the mortgage loan or $8,000. The new $8,000 down payment assistance option is being made available for those borrowers purchasing lower priced homes that need additional financial assistance in order to make homeownership a reality. To learn more about the program and eligibility requirements, select the Buyers tab or contact one of our participating lenders. To see all rate and assistance options available, visit the Available Funds page.
Announcing... HFA Preferred™
May, 14, 2014 – The HFA Preferred™ loan product is now available through the TDHCA My First Texas Home Program (TMP 79). This new loan option will provide a competitive fixed interest rate, down payment/closing cost assistance and low mortgage insurance costs to first-time homebuyers who meet the program eligibility guidelines. Prospective borrowers may apply directly through one of the TDHCA-approved participating lenders.