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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 February 27, 2015

My First Texas Home Assisted Funds Available
Remaining
Rate/APR*
AMFI
Amt. of Assistance
My First Texas Home
Program 79 -
Statewide Assisted - FHA, VA, USDA
Commitment Lot #35
$34,766,312
Additional funds will be made available
when current funds are depleted.
4.500%/4.698%
(2% origination fee)
3% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
My First Texas Home
Program 79 -
Statewide Assisted - FHA, VA, USDA
Commitment Lot #35
$32,945,399
Additional funds will be made available
when current funds are depleted.
4.875%/4.904%
(0% origination fee)
5% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
My First Texas Home
Program 79 -
Statewide Assisted -Conv. HFA Preferred
Commitment Lot #35

$9,746,938
Additional funds will be made available
when current funds are depleted

4.75%/4.951%
(2% origination fee)
3% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
My First Texas Home
Program 79 -
Statewide Assisted -Conv. HFA Preferred
Commitment Lot #35
$10,000,000
Additional funds will be made available
when current funds are depleted
5.125%/5.154%
(0% origination fee)
5% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
My First Texas Home
DPA PLUS New
Program 79 -
Statewide Assisted - FHA, VA, USDA
Commitment Lot #35
$34,523,000
Additional funds will be made available
when current funds are depleted.
5.000%/5.029%
(0% origination fee)
$8,000 net DPA
Up to 115/140% $8,000
2nd Lien
No interest, no monthly payment
MCC Funds Available
Remaining
MCC
Credit %
AMFI
Program End Date
Texas Mortgage Credit Certificate
Program

Non Targeted/Targeted

$34,151,480

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. Effective 1/06/14. 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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