Home Buyer FAQ: What Types of Assistance Does TSAHC Offer?
The Texas State Affordable Housing Corporation (TSAHC) offers two assistance types to help first-time home buyers and repeat home buyers buy a home:
Fixed Rate Mortgage Loans with Down Payment Assistance (DPA)
• 30-year fixed interest rate mortgage loan
• DPA provided as a grant (never needs to be repaid) or forgivable second lien loan
• DPA available for up to 5% of the loan amount
• Visit the Loan Comparison Calculator to compare loan types and DPA options
Mortgage Credit Certificates (MCCs)
• Provides the home buyer with a special mortgage tax credit that reduces their federal income tax liability every year
• Can save the home buyer thousands of dollars over the life of the loan
• Exclusively for first-time home buyers (defined as those who have not owned a home in the past three years)
• Can be used with TSAHC’s DPA
Note: You must apply for one or both types of assistance when you apply for your mortgage. You cannot apply after you have closed on your home.