Texas State Affordable Housing Corporation (TSAHC)
Texas State Affordable Housing Corporation (TSAHC) Homebuyers Programs
At the Texas State Affordable Housing Corporation (TSAHC), they help people in East Texas and throughout the rest of the state purchase a home. TSAHC is a nonprofit organization that was created by the Texas Legislature to help Texans achieve their dream of homeownership.
To qualify, you must have a credit score of 620 and meet certain income requirements.
What Kind of Help Does TSAHC Offer? If you qualify for one of TSAHC's programs, they will provide you with a mortgage loan and funding to use for your down payment. You can choose to receive the down payment assistance (DPA) 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 within three years).
"Homes for Texas Heroes" Program
If you're in a hero's profession, this is the home loan program for you. Hero professions include:
Professional educators, which include the following full-time positions in a public school district:
Police officers and public security officers
Firefighters and EMS personnel
Veterans or active military
Correction officers and juvenile corrections officers
Nursing faculty and allied health faculty
"Home Sweet Texas" Home Loan Program
If you don't qualify under one of the professions listed, this is the best program for you. This program offers the same benefits as the Home for Texas Heroes Program.
First-Time Home Buyer
If you are buying your first home, you can also apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). To qualify, you must meet certain income requirements, and the home must meet certain sales price restrictions.