The TDHCA Bond Finance and Texas Homeownership Divisions are pleased to announce today the release of $600 million in mortgage loan funds through the Texas First Time Homebuyer Program.  It is anticipated this will help to open the door to homeownership for many low to moderate income homebuyers.  Interest rates on these 30-year, fixed-rate mortgage loans will vary depending on market conditions but will initially be available at 3.5% with down payment and closing cost assistance of 5% of the mortgage amount in the form of a 30-year, non-amortizing, 0% interest, repayable second lien.

 Those interested in learning more about the program may visit the Department’s website, contact one of our participating lender partners or any of the Texas Homeownership Division staff at 800-792-1119.