Lender Guidelines: 3.4 Using Additional Subsidy Programs

Additional subsidy programs may be used in conjunction with TSAHC’s Programs provided they meet the applicable FHA, VA, RHS, Ginnie Mae, Fannie Mae, Freddie Mac and Lakeview guidelines, and provided that the subsidy funds are not attached to the first lien mortgage, either as a gift or as a second lien. Please contact TSAHC if you have questions about combining another subsidy program with [...]

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 not permitted. VA Loans • Must be originated and guaranteed in accordance with VA [...]

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 [...]