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.

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.

My Choice Texas Home is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 620 minimum FICO for Government (FHA/VA/USDA) and Conventional loans; some lenders may require 640 for manual underwriting. A homebuyer education course is required, through HUD-approved or TDHCA-approved homebuyer education provider required (Texas Homebuyer U online course commonly used). Residency requirement: Property must be in Texas and occupied as primary residence. Citizenship or immigration status: U.S. citizen or qualified non-citizen per agency loan-product guidelines. Borrower must occupy the property as primary residence. Income limit is set at 'household' (qualifying borrower) income up to ~$244,630 (statewide top tier reflecting MSA-specific limits with TBA / non-bond execution). No purchase price cap separately imposed by TDHCA on this product (subject to agency loan limits). Homebuyer education required. DPA second lien is forgivable / due-on-sale per current program structure; verify current repayment terms on the TDHCA program page since terms have shifted between forgivable-3-year and deferred-due-on-sale across recent program cycles.

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.

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.

My Choice Texas Home names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native homebuyers, educators, law enforcement officers, firefighters, healthcare workers, and homebuyers 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.

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

Applications for My Choice Texas Home go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Lenders reserve via TDHCA's online lender portal on first-come, first-served basis. 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.