Lender Guidelines: 3.3 Assistance Options - Non-bond DPA (with or without MCC), Bond DPA

DPA: TSAHC offers down payment assistance (DPA) in the form of a non-repayable grant or a 3-year Deferred Forgivable Second Lien loan, as follows: For Non-Bond DPA Conventional Loans –3-year Deferred Forgivable Second LienFor Non-Bond DPA FHA/VA/RHS Loans – Grant and 3-year Deferred Forgivable Second LienFor Bond DPA FHA/VA/RHS Loans – Grant and 3-year Deferred Forgivable Second Lien The 3-year [...]

Lender Guidelines: 3.2 Purpose of Loan

Only first lien mortgage loans for the purchase of a residence are eligible. No refinancing of existing mortgage loans is permitted. For access to the full TSAHC DPA & MCC Guidelines, please click [...]

Lender Guideline: 3.1 Types of Loans

For Non-Bond Loans or Bond Loans: Only 30-year, fixed-rate mortgage loans are allowed. Furthermore, the only loan types allowed are: FHA Loans • Must be originated and guaranteed in accordance with FHA guidelines and Lakeview guidelines. • 30-year fixed and limited 203(k) only. • Temporary buydowns are permitted. VA Loans • Must be originated and guaranteed in accordance with VA guidelines and [...]

Lender Guidelines: 2.7 Home Buyer Education

At least one borrower must complete a home buyer education course prior to closing. This requirement can be met by attending an in-person or online counseling course listed at www.texasfinancialtoolbox.com. For access to the full TSAHC DPA & MCC Guidelines, please click [...]

Lender Guidelines: 2.6 Residency Requirements

Homes for Texas Heroes Program: Borrowers must currently be a Texas resident or demonstrate intent to be a resident of Texas. Individuals who are currently not living in Texas but have accepted a job in one of the eligible professions listed under the Homes for Texas Heroes Program are eligible. Please follow Lakeview, FHA, VA, USDA-RHS, Fannie Mae or Freddie Mac guidelines related to non-U.S. [...]