Texas Expands Downpayment Assistance Programs
The Texas State Affordable Housing Corp. has made changes to its two downpayment assistance programs, with the aim of expanding them to serve more people and provide customers with more options.
These changes are for the Homes for Texas Heroes Home Loan Program and the Home Sweet Texas Home Loan Program.
The programs can now be used for both purchase and refinance. However, only standard, fully documented 30-year refinancings are eligible. Streamlined or cash-out loans are not.
A pair of bills passed in the recent state legislative session and signed into law will continue the Homes for Texas Heroes Home Loan Program. They also added all professionals who were previously eligible under the TSAHC’s Professional Educators Home Loan Program, as well as military veterans to the Homes for Texas Heroes Home Loan Program.