My Choice Texas Home

What is My Choice Texas Home?

My Choice Texas Home is a deferred second loan for homebuyers in Statewide, Texas.

• My Choice Texas Home is TDHCA's non-bond statewide homeownership program. It is the repeat-buyer / non-FTHB counterpart to My First Texas Home. The program provides a 30-year fixed-rate first mortgage paired with up to 5% DPA as a 0% second lien. Because it is funded with TBA execution rather than tax-exempt mortgage revenue bonds, there is no first-time-homebuyer requirement and no IRS purchase price cap.
• TDHCA's My Choice Texas Home pairs a 30-year fixed-rate first mortgage (FHA, VA, USDA, or HFA-preferred conventional) with down payment and closing-cost assistance of up to 5% of the loan amount. The DPA is structured as a 0% interest, no-monthly-payment second lien (deferred / due-on-sale) and is forgiven in many cases per program guidance. Available statewide with no first-time-homebuyer requirement, making it ideal for repeat buyers and move-up purchases. Borrowers may also combine the loan with TDHCA's Texas Mortgage Credit Certificate (MCC) when offered for additional federal income tax savings.
• Funding comes from TBA (To-Be-Announced) capital markets execution; non-bond.

How much assistance does it provide?

My Choice Texas Home provides assistance worth 5% of the purchase price, as set by the program.

• Buyer contribution: No minimum borrower contribution required by TDHCA; product overlays may apply.
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

My Choice Texas Home is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Due upon sale, refinance, payoff of first mortgage, or non-occupancy as primary residence.
• 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.

Who qualifies?

My Choice Texas Home is open to buyers who will live in the home as their primary residence.

What are the income limits?

My Choice Texas Home limits household income to $244,630.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

My Choice Texas Home caps the purchase price as follows: No TDHCA-imposed sales-price cap (TBA / non-bond execution); subject to FHA/VA/USDA county loan limits and conforming conventional limits.

• Eligible property types include Single-family detached, townhomes, condos meeting agency approval, eligible PUDs, eligible manufactured homes.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

My Choice Texas Home names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native buyers, educators, law enforcement officers, firefighters, healthcare workers, and buyers with disabilities among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

My Choice Texas Home serves buyers purchasing in Statewide, Texas.

How do you apply?

Applications for My Choice Texas Home go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved or TDHCA-approved homebuyer education provider required (Texas Homebuyer U online course commonly used).

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Lenders reserve via TDHCA's online lender portal on first-come, first-served basis, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.