Home Sweet Texas Program
Home Sweet Texas, a program of the Texas State Affordable Housing Corporation (TSAHC), offers two types of assistance to help you purchase a home.
You can choose downpayment assistance as a grant (which does not have to be repaid) or a deferred forgivable second lien loan (which only has to be repaid if you sell or refinance with in 3 years). If you are eligible you essentially receive free money to buy a home.
Fixed Rate Loan with Down Payment Assistance
- Several rate, loan, and DPA options available
- DPA can be up to 5% of the loan amount
Requirements
- Must qualify for FHA, VA, or USDA Mortgage
- Minimum credit score of 620
- Max income limit depends on purchase location
- No purchase price limits
- Complete TSAHC's home buyer educational course
- Available to first time and repeat home buyers
Mortgage Credit Certificate (MCC)
- A special annual tax credit - 15% of annual mortgage interest
- For first time home buyers (those who have not owned a home in the last 3 years)
- Can be used with TSAHC's down payment assistance**
Example:
Fill out the form to get more information.
*Income limits vary per metropolitan area.
**When combining MCC with DPA Program, separate income restrictions apply. Rates vary based on DPA amounts.