All About TSAHC Homebuyer Programs with New Horizons Lending
TSAHC offers a variety of programs and services, with a special focus on homebuyer programs that provide loans and down payment assistance. These programs have been a lifeline for many Texans, helping them turn their dreams of homeownership into reality. We're here to help you explore these opportunities and guide you through the process.
Get ready to take the leap from renting to becoming a proud homeowner with TSAHC and New Horizons Lending by your side.
TSAHC's Homebuyer Programs: Loans and Down Payment Assistance
TSAHC administers two programs specifically designed for homebuyers like you: the Homes for Texas Heroes Program and the Homes Sweet Texas Home Loan Program.
Let's take a closer look at each program, who qualifies, and see how they can benefit you.
The Homes for Texas Heroes Program: Supporting Everyday Heroes in Their Journey to Homeownership
The Homes for Texas Heroes Program focuses on supporting Texas's everyday heroes, including teachers, police officers, firefighters, EMS personnel, corrections officers, and veterans.
TSAHC recognizes the invaluable service these professionals provide to our communities. To help them overcome one of the biggest barriers to homeownership—the upfront costs—the program offers a TSAHC grant that can be used towards a down payment and closing costs. For many individuals in these professions, this grant can make the difference between continuing to rent and owning a home.
To qualify for the Homes for Texas Heroes Program, you need to meet certain criteria. First, you must fall into one of the professional categories mentioned earlier. Additionally, you should have a minimum credit score of 620 to demonstrate your creditworthiness. TSAHC also sets income limits based on the county and size of your household. For example, if you reside in Austin and have a family of four, the income limit is $86,450 (as of 2023).
Lastly, completing a HUD-approved homebuyer education course is a requirement. This educational component ensures you have the knowledge to make informed decisions regarding homeownership.
The Homes Sweet Texas Home Loan Program: A Path to Affordable Homeownership for Low and Moderate-Income Families
While the Homes for Texas Heroes Program is tailored to specific professions, the Home Sweet Texas Loan Program caters to low and moderate-income families. Similar to its counterpart, this program provides a TSAHC grant to help cover down payment and closing costs. The financial assistance it offers significantly eases the upfront costs associated with homeownership.
To qualify for the Home Sweet Texas Loan Program, you need to meet similar criteria as the Homes for Texas Heroes Program, with a few exceptions. This program is open to anyone who meets the eligibility requirements, not just specific professions or veterans.
You must also have a credit score of 620 and meet the TSAHC income limits, which vary based on the county and size of your household. The Home Sweet Texas Loan Program is an excellent option for many first-time homebuyers.
Now that you understand the programs offered by TSAHC, you may be wondering how to apply for their down payment assistance programs. To get started, you'll need to work with a TSAHC-approved mortgage lender like New Horizons Lending. We are well-versed in TSAHC's programs and the application process. Our team can help you navigate the requirements, complete the necessary paperwork, and guide you through the entire homebuying journey.
Applying for TSAHC's Down Payment Assistance Programs with New Horizons Lending
The ability to afford a down payment is often a significant barrier to homeownership. The TSAHC Down Payment Assistance program helps qualified homebuyers overcome this hurdle by providing a non-repayable grant equivalent to a percentage of the home loan amount.
This grant can be used to cover down payment and closing costs, reducing the financial burden on homebuyers and making homeownership more attainable.
Making Homeownership a Reality: How New Horizons Lending and TSAHC Can Help You
TSAHC's down payment assistance and home loan programs are not just financial tools; they are catalysts for change, creating pathways to homeownership for many Texans. Whether you're a first-time homebuyer, a community hero, or a low-to-moderate income earner, TSAHC's programs may be the stepping stone you need to achieve your dream of owning a home.
So, why not explore what TSAHC can do for you?
If you're ready to explore mortgage options and learn more about TSAHC's down payment assistance programs, don't hesitate to contact us at New Horizons Lending. Our experienced team is here to provide personalized guidance tailored to your unique situation and help you confidently navigate the mortgage process. Take the next step towards making your homeownership dreams come true.