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Current Available Funds

Effective October 2012, TDHCA announced the release of $600 million in homebuyer assistance funds for first time homebuyers available on a first come, first served basis. As of December 2014, over $500 million has been reserved for mortgage loan reservations; thus necessitating the need to increase the amount available to $1 Billion.

The funds will be managed through the periodic release of Commitment Lots – each totaling approximately $35 million.

Below is a summary of approximate program funds available as of AUGUST 24, 2015

My First Texas Home Assisted Funds Available
Rate/APR*
AMFI
Amt. of Assistance
Origination/SRP
My First Texas Home
Program 79 - No MCC
BOND (no MCC) - FHA, VA, USDA

4.625%/4.654%
0% Origination

Up to 115/140% 5% of loan amount
0% Origination
2.75% SRP
My First Texas Home
Program 79 - No MCC
BOND (no MCC) - FHA, VA, USDA
4.250%/4.278%
2% Origination
Up to 115/140% †† 5% of loan amount
2% Origination
0.75% SRP
My First Texas Home
Program 79 - No MCC
BOND (no MCC) - FHA, VA, USDA
DPA PLUS
5.00%/5.029%
0% Origination

Up to 115/140% †† Up to $8,000
0% Origination
2.75% SRP
My First Texas Home
Program 79 -
COMBO (w/MCC) - FHA, VA, USDA
5.000%/5.029%
0% Origination
Up to 115/140% †† 5% of loan amount
0% Origination
2.75% SRP
My First Texas Home
Program 79 -
COMBO (w/MCC) - FHA, VA, USDA
4.50%/4.698%
2% Origination

Up to 115/140% †† 5% of loan amountt 2% Origination
0.75% SRP
My First Texas Home
Program 79 -
COMBO (w/MCC) -
FHA, VA, USDA
DPA PLUS
5.500%/5.530%
0% Origination

Up to 115/140% †† Up to $8,000
0% Origination
2.00% SRP
My First Texas Home
Program 79
FNMA HFA Preferred (with/without MCC)- CONV.
5.00%/5.029%
0% Origination
Up to 115/140% †† 5% of loan amount 0% Origination
2.75% SRP
My First Texas Home
Program 79 - with/without MCC
FNMA HFA Preferred (with/without MCC) - CONV.
4.625%/4.824%
2% Origination
Up to 115/140% †† 5% of loan amount 2% Origination
0.75% SRP
MCC Funds Available
MCC
Credit %
AMFI
Program End Date
Texas Mortgage Credit Certificate Program
MCC Stand-Alone

Non Targeted/Targeted

40%
Up to 115%/140% 12/31/16

Rates subject to change.
†† Income limits on assistance may be restricted depending on loan product used by participating lender.
* 30-year fixed annual percentage rate loan with 5% or $8,000 down payment on a $120,000 loan. Offer may terminate at any time without notice. Rate and annual percentage rate (APR) calculated on a 365 day year with mandated closing costs (2% origination or 0% origination, and $400 program related fees). Rates/APRs subject to change with changes in closing costs. Properties and applicants must qualify. Other restrictions may apply. 221 E. 11th Street, Austin, Texas 78701, 800-792-1119.

To find a participating lender in your area, visit Step 5: Find a Lender or REALTOR® on the Buyer page.

 
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