Home Sweet Texas

Home Sweet Texas is a forgivable loan for homebuyers in Texas. TSAHC (Texas State Affordable Housing Corporation) statewide forgivable second lien program providing 3% of the first mortgage amount for down payment and closing cost assistance. Available to all eligible homebuyers (not limited to first-time buyers). Second lien is forgiven after 3 years if borrower maintains primary residence. 3% of the loan amount provided for down payment and/or closing costs. available as either a grant (no repayment required) or a deferred forgivable second lien forgiven after 3 years of primary occupancy. no first-time homebuyer requirement. statewide availability. competitive 30-year fixed interest rates. can be combined with mortgage credit certificate (MCC). Funding comes from State.

Home Sweet Texas is forgiven after 3 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale and No Longer Primary. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Home Sweet Texas is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 620. A homebuyer education course is required, through HUD-approved homebuyer education required. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Must complete HUD-approved homebuyer education course; credit score 620+.

Home Sweet Texas limits household income to 115% of the area median income, which varies by county and household size. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Home Sweet Texas can be used for Single Family, Condo, and Townhouse. New construction is eligible.

Home Sweet Texas serves homebuyers purchasing anywhere in Texas. The program targets specific areas: Federally designated targeted census tracts and areas of economic distress throughout Texas; higher income and purchase price limits apply in targeted areas.

Applications for Home Sweet Texas go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.