Frequently Asked Questions
Our frequently asked questions are below. If you don't
find the answer you are looking for, call us at 1-800-792-1119 and
we will be glad to help.
Does the lender have to
pay a participation fee?
No, a participation fee is not required. All funds are distributed
on a first-come, first-served basis. top
What are the allowable fees a
lender can charge on a My First Texas Home loan?
Lenders are allowed to charge the following fees:
- Fee’s to Master Servicer: $150 Loan Review and Application Fee; $59 Tax Service Fee; $18 Flood Certification Fee
- Compliance Fee to Program Administrator, eHousingPlus $225
- Other Closing Costs: including appraisal fee; credit report
fee, survey fee, title insurance fee, etc. (must be fully disclosed
on HUD-1 in accordance with agency policies)
are funds made available under the program?
TDHCA strives to have funds available at all times. All funds are available on a first come, first served basis.
How many lenders participate in the program? Approximately 150 lending institutions participate with branch offices located throughout the state. top
Can other downpayment
assistance programs be used in conjunction with this program?
Yes, other downpayment assistance programs may be used if approved
by our Master Servicer (Idaho HFA). Many communities
within Texas operate programs at the local level that may be used.
If a lender gets approved
for My First Texas Home does this automatically
approve them to participate in the Texas Mortgage Credit Certificate (MCC)
No, a separate application must be completed to participate in the
Texas MCC Program.
Can the Texas MCC Program and My First Texas Home be combined? Yes. top
Can a lender
service the loans they originate under this program?
No, all of our loans are sold to and serviced by our Master Servicer
(Idaho HFA). top
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