|Since 2005, Texas REALTORS® have helped an estimated 27,500 homebuyers take advantage of state-administered homebuyer-assistance programs. However, a large percentage of buyers remain unaware of these beneficial programs. The Texas Department of Housing and Community Affairs (TDHCA) has a variety of mortgage products designed to help more Texans become homeowners. TDHCA-administered programs target first-time homebuyers, veterans, or those who have not owned a home in the past three years. Here are four popular state-administered to keep in mind when working with your buyers.
Texas Mortgage Credit Program: Helps buyers year after year
My First Texas Home Program: Offers loans and downpayment and closing-cost assistance
Conventional option: Provides flexibility for homebuyers
MCC and loan combo: Maximizes benefits
To learn more about these options, contact a participating lender via myfirsttexashome.com or call 800-792-1119.
Jill McFarren is senior communications and marketing advisor for the Texas Department of Housing and Community Affairs.