Texas State Affordable Housing Care Makes Favorable Changes

Monday, July 23 began a series of new features in Texas State Affordable Housing Care ,TSAHC's ,single family home buying program.

While usually change is not a favorite, these changes are fantastic and open the door to home ownership to many more Texas families!!!

TSAHC's Educators, Homes for Texas Heroes and Home Sweet Texas Loan Programs now enjoy the following benefits :

    That's right -- there's no longer a first-time homebuyer requirement in the program.   But the owner occupancy requirement remains in place.

NO RECAPTURE TAX

     There's no recapture tax requirement and gone are the related recapture forms---No Notices to Buyers, No Recapture Brochure and they won't be sending a Final Recapture Notice..

NO FEDERAL INCOME TAX RETURNS 

      There's no longer a three year tax return requirement on the compliance side of the loan.   There may still be a need for some tax returns on the credit underwriting side of the loan.   

NO TAX EXEMPT RIDER

      There's still a Program Affidavit BUT it's shorter as the Seller portion has been deleted.   

And talking to my lender friend, she can go as low as a score of 600. So if you want a 5% Grant for your down payment and we try to negotiate the seller to help with your closing costs.....you may be able to purchase a home for what you are paying in rent! Give us a call for more details!