Texas Department of Housing & Community Affairs - Building Homes and Strengthening Communities
FOR IMMEDIATE RELEASE
Monday, February 11, 2019

Media Contact:
Kristina Tirloni (512) 475-4743
 

  • 3.99% mortgage loan rate for eligible first time homebuyers
  • Special bond rates for additional government and nongovernment loans
  • TDHCAs Homeownership Programs helped nearly 14,000 homebuyers purchase their first home in FY2017-FY2018

 

State housing agency offers special 3.99% mortgage loan rate for first time homebuyers

 

(AUSTIN) — The Texas Department of Housing and Community Affairs is pleased to announce that its My First Texas Home (MFTH) Program has made available $166.3 million for Texas homebuyers to use when purchasing their first home. Nearly $50 million will be offered for low rate, unassisted mortgage loans, and more than $116 million will be available for low rate, down payment assistance available home loans. Qualifying homebuyers can take advantage of some amazing mortgage loan rates!

  • 3.99% mortgage rate
    • No Down Payment Assistance provided
    • First come, first served basis
    • Government Loans (FHA, VA, USDA)
  • 4.38% mortgage rate
    • No Down Payment Assistance provided
    • First come, first served basis
    • Conventional Loans (Fannie Mae HFA Preferred)
  • 5.30% mortgage loan
    • Down Payment Assistance available (4 points provided through a 30 year, fixed rate, non-amortizing, 0% interest second loan that is due on sale of property or refinance of mortgage loan)
    • Government Loans (FHA, VA, USDA)

Qualified individuals must have a minimum FICO score of 620. Exceptions to the first time homebuyer requirement are available for veterans and with respect to homes purchased within federally-designated targeted areas. Learn more by contacting a MFTH participating lender or speak to the Texas Homeownership Team.

TDHCAs Texas Homeownership Programs helped nearly 14,000 homebuyers purchase their first home in Fiscal Years 2017-2018. The My First Texas Home Program helps many low- to moderate-income Texans achieve their homeownership goals, while educating them about the risks and responsibilities that accompany those rewards. Find more information related to the programs at MyFirstTexasHome.com.

About the Texas Department of Housing and Community Affairs
The Texas Department of Housing and Community Affairs is committed to expanding fair housing choice and opportunities for Texans through the administration and funding of affordable housing and homeownership opportunities, weatherization, and community-based services with the help of for-profits, nonprofits, and local governments. For more information about fair housing, funding opportunities, or services in your area, please visit www.tdhca.state.tx.us or the Learn about Fair Housing in Texas page. 

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