Celebrate the Savings- 2014!
In an effort to further assist borrower's wishing to purchase their first home, the Texas Department of Housing & Community Affairs ("TDHCA") is pleased to offer a reduced MCC Stand-Alone Issuance fee for any MCC's reserved beginning Thursday, November 20th through the end of December 2014. The fee will temporarily be reduced from its current 1% of the Mortgage Loan amount to $500!
Also, don't forget the TDHCA "Combo" option (TMP 79 w/TDHCA MCC) for those borrowers needing assistance with down-payment/closing cost. TDHCA now offers a 0% origination point program for first time homebuyers as well as its existing 2% origination point option while maintaining the availability of 5 points of down payment and closing cost assistance for either option. When utilizing the "combo" option, the TDHCA MCC issuance fee is reduced to $0; thereby, resulting in no cost to the borrower! This option provides the borrower with upfront assistance to purchase the home and also provides the long-term benefit of the tax credit - an excellent way to maximize the benefits and the savings!
A special thanks to all of our participating lender partners on another successful year. Happy Holidays from all the homeownership staff at TDHCA!
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. Visit the Lender Locator page to find a lender in your area.