Homeownership

The Texas State Affordable Housing Corporation offers various programs to homebuyers wishing to achieve the American dream of homeownership. Furthermore, TSAHC also assists those homeowners in jeopardy of losing their homes. TSAHC accomplishes these goals through the following programs.

 

Homeownership Programs

The Texas State Affordable Housing Corporation provides 30-year fixed rate mortgage loans to eligible homebuyers wishing to achieve the American dream of homeownership through a network of participating lenders across the state. In addition to a low interest rate, our programs offer down payment and closing cost assistance in the form of a grant. For more information on our Professional Educators, Homes for Texas Heroes and Home Sweet Texas Home Loan Programs, please click here.   

 

The Corporation also provides an annual tax credit to qualifying first-time homebuyers through the issuance of a Mortgage Credit Certificate (MCC).  With an MCC, the qualified homebuyer is eligible to take a portion of the annual interest paid on the mortgage as a special tax credit, up to $2,000, each year that they occupy the home as their principal residence.  This credit reduces the federal income taxes of the homebuyer, resulting in an increase in the homebuyer's net earnings.  An increase in net earnings results in the greater homebuyer capacity to qualify for the mortgage loan.  An MCC has the potential of saving the homebuyer thousands of dollars over the life of the loan. For more information on our Mortgage Credit Certificate Program, please click here.  

 

Texas Foreclosure Prevention Task Force

The Texas Foreclosure Prevention Task Force is a statewide initiative that works to create and sustain affordable housing by informing at-risk borrowers of the options available to them, linking them with local financial counseling services, and increasing the capacity of these local counseling services.  Facilitated by NeighborWorks® America, the Task Force is comprised of representatives from over 90 organizations representing state, local, and federal government organizations, the financial industry, and the nonprofit sector working together toward a common goal- avert home mortgage foreclosures and the impact of foreclosure on Texas families and communities.  The Texas State Affordable Housing Corporation serves as the fiscal agent for and a participating member in the Task Force.  Please click here for more information.