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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 JULY 1, 2015

My First Texas Home Assisted Funds Available
Remaining
Rate/APR*
AMFI
Amt. of Assistance
Origination/SRP
My First Texas Home
Program 79 -
Statewide Assisted - FHA, VA, USDA
Commitment Lot #50
$33,238,647
Additional funds will be made available
when current funds are depleted.
4.375%/4.571%
3% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
2% Origination
0.75% SRP
My First Texas Home
Program 79 -
Statewide Assisted - FHA, VA, USDA
Commitment Lot #50
$29,921,734
Additional funds will be made available
when current funds are depleted.
4.875%/4.886%
5% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
0% Origination
2.75% SRP
My First Texas Home
Program 79 -
Statewide Assisted -Conv. HFA Preferred
Commitment Lot #50

$9,745,186
Additional funds will be made available
when current funds are depleted

4.75%/4.951%
3% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
2% Origination
0.75% SRP
My First Texas Home
Program 79 -
Statewide Assisted -Conv. HFA Preferred
Commitment Lot #50

$9,571,330
Additional funds will be made available
when current funds are depleted

5.25%/5.280%
5% net DPA
Up to 115/140% 5% of loan amount
2nd Lien-
No interest, no monthly payment
0% Origination
2.75% SRP
My First Texas Home
DPA PLUS New
Program 79 -
Statewide Assisted - FHA, VA, USDA
Commitment Lot #50
$32,950,434
Additional funds will be made available
when current funds are depleted.
5.50%/5.530%
Up to
$8,000 net DPA

Up to 115/140% UP TO $8,000
2nd Lien
No interest, no monthly payment
0% Origination
2.75% SRP
My First Texas Home
FHA Streamline Refinance Program
Existing TMP 79 Borrowers ONLY
Commitment Lot #50
$35,000,000
Additional funds will be made available
when current funds are depleted.
4.25%/4.278%
(0% origination fee)
N/A Closing Costs Up to $3,500
0% Origination
2.00% SRP
MCC Funds Available
Remaining
MCC
Credit %
AMFI
Program End Date
Texas Mortgage Credit Certificate
Program

Non Targeted/Targeted

$194,457,513

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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