fbpx

5 Star Texas Advantage Program

The 5 Star Texas Advantage Program which provides down payment and closing cost assistance to eligible home buyers in the form of a Grant up to 5% of the total loan amount of their home. Grants are provided for Conventional loans with no repayment or recapture. Assistance for Government loans is provided as a Community Second and is completely forgive after 3 years. The program provides a 30 year fixed rate mortgage. Mortgage options are FHA, VA, USDA and Conventional.

Financial assistance is provided by SETH Southeast Texas Housing Finance Corporation. The public purpose of Southeast Texas Housing Finance Corporation is to create and promote affordable housing opportunities for the citizens of Texas and it’s subscribing governmental jurisdictions. The primary business activity of Southeast Texas Housing Finance Corporation is to issue tax-exempt single-family mortgage revenue bonds.

Features

    • Available to qualified home buyers from all professions
    • Available statewide through a network of participating lenders*
    • Down Payment Assistance in the form of a 3-year forgivable 2nd mortgage

Eligibility

    • No First Time Homebuyer Requirement
    • Income limits apply
    • Purchase price limits apply
    • Other requirements may apply
    • Minimum FICO Score of 640
    • Maximum Sales Price: $484,350
    • Mortgage for the purchase of an Owner occupied, Primary Residence
      * Excludes Travis County and the cities of El Paso and Grand Prairie

      APPLY NOW

SETH Goldstar Program

Financial assistance is provided by SETH, Southeast Texas Housing Finance Corporation. The public purpose of Southeast Texas Housing Finance Corporation is to create and promote affordable housing opportunities for the citizens of Texas and it’s subscribing governmental jurisdictions. The primary business activity of Southeast Texas Housing Finance Corporation is to issue tax-exempt single-family mortgage revenue bonds.

Features

    • Available to qualified home buyers from all professions
    • Available statewide through a network of participating lenders*
    • Up to 7% of final loan amount in the form of a forgivable 2nd lien
    • Funds can be used toward your down payment and closing costs
      * Excludes Travis County and the cities of El Paso and Grand Prairie

Eligibility

    • No First Time Homebuyer Requirement
    • Minimum FICO Score of 620
    • DTI up to 55%
    • Maximum Sales Price: $484,350
    • Meet Program Income Limits

      APPLY NOW

Texas Mortgage Credit Certificate Program

Texas Mortgage Credit Certificates save Texas first time home buyers up to $2,000 per year on their federal income taxes.

*Starting February 1, 2019, MCCs will only be offered in combination with a My First Texas Home mortgage loan. MCCs reserved as a stand-alone option prior to February 1, 2019, will be honored (assuming receipt of compliance approval).

Features

    • Dollar-for-dollar reduction on federal tax liability up to $2,000 per year for as long as you owe on the mortgage loan and live in your first home.
    • Available to qualified first time home buyers from all professions
    • No minimum FICO (credit) score for Stand-alone MCC option (MCC Only option)
    • Available statewide through a network of participating lenders
    • Buyers can maximize their benefits when they combine a Texas Mortgage Credit Certificate with a My First Texas Home mortgage loan!

Eligibility

  • First time homebuyer, veteran or a homebuyer who has not owned a home within the past three years
  • Income limits apply
  • Purchase price limits apply
  • Other requirements may apply

    APPLY NOW

My Choice Texas Home

Home loans, down payment assistance and closing cost assistance for Texas home buyers of all professions with no first time home buyer requirement. Offered by the Texas Department of Housing and Community Affairs (TDHCA) Offered by the Texas Department of Housing and Community Affairs (TDHCA) and available statewide through a network of participating lenders. TDHCA is a nonprofit organization created at the direction of the Texas Legislature to serve as a self-sustaining, statewide affordable housing provider. The mission of TDHCA is to help homeowners sustain homeownership and improve their financial situation while achieving the American dream of homeownership.

Features

    • NO first time home buyer requirement
    • 30-year fixed interest rate mortgage loans
    • Down payment assistance and closing cost assistance up to 5% of the loan amount
    • Available to qualified home buyers from all professions
    • Available statewide through a network of participating lenders
    • Homebuyers can choose to use low rate government-backed Loans (FHA, VA, USDA) or a conventional (FNMA HFA Preferred) loan product.

Eligibility

    • Available to qualified home buyers from all professions
    • Income limits apply
    • Purchase price limits apply
    • Minimum credit score of 620
    • Other requirements may apply
    • My Choice Texas Home mortgage loan cannot be combined with the Texas Mortgage Credit Certificate.

      APPLY NOW

My First Texas Home

Mortgage loans at 30-year, fixed interest rates and down payment and/or closing cost assistance. Offered by the Texas Department of Housing and Community Affairs (TDHCA) and available statewide through a network of participating lenders. TDHCA is a nonprofit organization created at the direction of the Texas Legislature to serve as a self-sustaining, statewide affordable housing provider. The mission of TDHCA is to help homeowners sustain homeownership and improve their financial situation while achieving the American dream of homeownership.

Features

    • Available to first time homebuyers, veteran or a homebuyer who has not owned a home within the past three years
    • 30-year fixed interest rate mortgage loans
    • Down payment assistance and closing cost assistance up to 5% of the loan amount
    • Available to qualified home buyers from all professions
    • Available statewide through a network of participating lenders
    • Government Loans (FHA, VA, USDA) and Conventional (FNMA HFA Preferred) loan products
    • Option for dollar-for-dollar reduction on federal tax liability through the Department’s Texas Mortgage Credit Certificate Program*
      * Available to first time homebuyers only. Buyers can maximize their benefits when they combine a Texas Mortgage Credit Certificate with a mortgage loan.

Eligibility

  • First time homebuyer, veteran or a homebuyer who has not owned a home within the past three years
  • Income limits apply
  • Purchase price limits apply
  • Minimum credit score of 620
  • Other requirements may apply

    APPLY NOW