SETH MyHome Plus Program

What is SETH MyHome Plus Program?

SETH MyHome Plus Program is a forgivable loan for homebuyers in Texas.

• SETH MyHome Plus provides up to 5% of the final loan amount as a 10-year forgivable Community Second Loan with no monthly payments, fully forgiven after 10 years. Available statewide in Texas except Travis County and city limits of El Paso, Grand Prairie, and McKinney. Combining with the SETH MCC Program adds a $3,500 grant bonus.
• Up to 5% forgivable second loan.
• Forgiven after 10 years.
• No monthly payments.
• $3,500 bonus with SETH MCC.
• 620 min FICO.
• Funding comes from Local.

How much assistance does it provide?

SETH MyHome Plus Program provides assistance worth 5% of the purchase price, as set by the program.

• 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?

SETH MyHome Plus Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale and Refinance (unforgiven balance repaid if sold or refinanced before 10-year term).
• 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?

SETH MyHome Plus Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

SETH MyHome Plus Program sets its income limit as follows: Must meet program income limits by county; no maximum sales price limit.

• 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?

SETH MyHome Plus Program can be used for Single-family.

• New construction is eligible.

Where does it apply?

SETH MyHome Plus Program serves buyers purchasing anywhere in Texas.

How do you apply?

Applications for SETH MyHome Plus Program 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 before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider 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.