Coming Soon: New Mortgage Loan Option with
Lower Interest Rate
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On September 4th, TSAHC will roll out a new 5% down payment assistance mortgage loan product that offers a
MUCH lower interest rate
on the HFA Preferred Conventional loan. The down payment assistance will be in the form of a repayable 2nd lien with 0% interest and no monthly payments due.
Please note that this product is
in addition
to our down payment assistance grant and mortgage credit certificate options currently available.
Stay tuned for more details about this new product. In the meantime, if you have q
uestions, please reference our
FAQs
, or contact the
Homeownership Team
.
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Currently Accepting Applications for the
HEART Grant Program for Hurricane Harvey Recovery
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Grants from HEART are available in two categories: housing repairs and programming. Organizations may apply for both, but award amounts are capped at $50,000 per organization.
Organizations providing ongoing Hurricane Harvey recovery efforts are encouraged to apply. Prior to applying for a grant, please review the
Program Guidelines
,
FAQ
, and take the
Eligibility Quiz
.
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TSAHC Issues RFP for
General Counsel Legal Services
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TSAHC recently issued a
Request for Proposals
(RFP) to identify and contract for General Counsel Legal Services for TSAHC. Qualified professional service providers are encouraged to apply and must submit all materials listed in the RFP.
Submissions in response to this RFP are due by
5:00 pm on Friday, September 14, 2018
and must be submitted electronically in PDF format to David Long, President, via email at
[email protected]
and Janie Taylor, Executive Vice President, via email at
[email protected]
by the response deadline.
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The Single Family Compliance Specialist works under the guidance of the Single Family Compliance Manager. Work involves the review of single family residential mortgage loan documentation to ensure compliance with Federal Tax Code, internal guidelines and eligibility criteria. Responsibilities also include managing TSAHC’s mortgage loan pipeline and working closely with participating lending organizations throughout the state.
The Development Finance Specialist works under the guidance of the Director of Development Finance. Work involves the sale and purchase of properties, the review of applications for the Texas Housing Impact Fund, Neighborhood Stabilization Program (NSP) home buyer applications, loan underwriting for rehab and new construction projects, and contract management. Responsibilities also include managing and increasing TSAHC’s land bank partnerships and expanding the program into new markets across Texas.
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September 7 - 10 in San Antonio
- 2018 Texas REALTORS® Conference
Event Page
(Online registration is closed, but you can register onsite.)
September 10 - 12 in Bastrop
- 26th Annual Texas Association of Local Housing Finance Agencies Educational Conference
Event Page and Registration
September 12
in Houston
- "Overcoming the Down Payment Hurdle" class. The free, interactive session provides one credit of mandatory continuing education (CE) for REALTORS®.
More Information and Registration
September 13
in Houston
- "Overcoming the Down Payment Hurdle" class. The free, interactive session provides one credit of mandatory continuing education (CE) for REALTORS®.
More Information and Registration
September 19 in San Antonio
- "Overcoming the Down Payment Hurdle" class hosted by Pilgrim Mortgage. The free, interactive session provides one credit of mandatory continuing education (CE) for REALTORS®.
More Information and Registration
September 25 in Waco
- "Overcoming the Down Payment Hurdle" class hosted by Waco Association of REALTORS®. The free, interactive session provides one credit of mandatory continuing education (CE) for REALTORS®.
More Information and Registration
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Below are August 2018 excerpts from
On the House
, a blog TSAHC launched in 2014 on affordable housing topics. We invite you to drop by
On the House
as we explore important issues, provide an inside look into our programs, and share other valuable resources.
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TSAHC Spotlight Series: Palladium Midland Apartments
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Palladium Midland Apartments, developed by the Texas Housing Foundation and Palladium USA, is a 264-unit multifamily development in Midland, Texas. TSAHC issued $24.7 million in tax-exempt bonds to finance the construction of the project, which was completed in 2016. The development costs totaled $36 million, with the remaining financing provided through the 4% housing tax credit program and a bridge loan from Regions Bank.
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As Market Rate Rents Soar, Rents in Tax Credit Financed Properties Remain Steady
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Housing Tax Credits can play a big part in making rental housing more affordable for tenants. Freddie Mac recently conducted a study that showed tenants of properties funded by Low-Income Housing tax Credits (LIHTC) pay lower rents than low income households living in comparable market rate rental housing. The study looked at rental trends in nine different metro areas over a six-year time span from 2012 to 2017.
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How Home Buyers Can Keep Cool in a Hot Housing Market
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It's summer in Texas which means scorching hot weather. In 2018, it also means a hot housing market, especially for entry-level buyers trying to find an affordable home. That's the primary takeaway from the latest housing report issued by the Real Estate Center at Texas A&M University. This is supported by several key indicators from the report.
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Down Payment Assistance Available to Ease the Pressure Home Buyers Face
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This is a guest post by Redfin (
www.redfin.com
). Founded by software engineers, Redfin is the country’s #1 brokerage website and offers a host of online tools to consumers. Redfin serves more than 80 major metro areas across the U.S.
Median home prices have increased by nearly 13% over the last two years, leaving many Texas home buyers discouraged by the idea of saving for a down payment.
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