Local News

RECON  - Real Estate Center Online News

January 17, 2012

AUSTIN (Texas State Affordable Housing Corporation) – The Texas State Affordable Housing Corporation's (TSAHC) first-time homebuyer programs now include grants to help buyers cover down payment and closing costs.

Homebuyers who qualify for TSAHC's Professional Educators, Homes for Texas Heroes or Home Sweet Texas Home (click here for a list of who qualifies under each program) can receive a grant of 5 percent of the loan amount. The grant can be applied toward down payment and closing costs.

In addition to qualifying for one of these programs, the person must be a first-time homebuyer, or not had an ownership interest in any residence during the last three years; meet the income and home purchase price limits; complete a HUD-approved homebuyer education course before closing on the loan; and reside in Texas.

Eligible homebuyers can apply directly through an approved participating mortgage lender in their area. For a list of participating lenders, visit TSAHC's website or call TSAHC at 888-638-3555