TDHCA offering $45M to homebuyer assistance program

The Texas Department of Housing and Community Affairs has announced the release of $45 million in mortgage credit certificate authority through the Texas Mortgage Credit Program. "Despite all the negatives we hear from other states, the fact is that the Texas economy – and the demand for homeownership – both remain quite healthy," says Michael Gerber, TDHCA executive director. "Many families want and are ready to take that exciting step toward homeownership, and TDHCA wants to help them achieve their dreams through safe, reliable homebuyer lending products offered through the state, coupled with responsible homebuyer education." The program provides a dollar-for-dollar reduction of a borrower's tax liability, not to exceed $2,000 annually, and is expected to help approximately 1,000 low- to moderate-income households in Texas purchase their first home.
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