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TSAHC Expands Down Payment Assistance Programs

The ""Texas State Affordable Housing Corporation (TSAHC)"":http://www.tsahc.org/ has announced the expansion of its initiatives for low and moderate income homebuyers.

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TSAHC will now extend its down payment assistance programs to current homeowners and those who have previously owned a home.

Previously, TSAHC's services targeted first-time buyers, and through the organization's broader offerings, first-time homeowners will now have access to the down payment assistance option, as well as TSAHC's existing service for first-time buyers, the Mortgage Credit Certificate Program (MCC).

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Giving first-time homeowners an annual federal tax credit of up to $2,000 per year, the MCC program is based on mortgage interest paid annually.

In opening up the organization's scope, existing and previous homeowners will join first-time buyers in taking advantage of TSAHC's low fixed mortgage interest rate of 4 percent, combined with a down payment assistance grant equal to 5 percent of their loan amount.

""We are excited to be able to offer our down payment assistance programs to even more families,"" said David Long, president of TSAHC. ""Current homeowners or those who previously owned a home and didn't qualify as a first-time home buyer can now take advantage of this program to purchase a home.

""This is a terrific new opportunity for eligible first-time home buyers. They can take advantage of the down payment assistance when they purchase their first home and benefit from the annual tax credit with TSAHC's MCC program,"" added Long.

Various qualifications exist for each of TSAHC's three home buyer programs, which include the following: Professional Educators Home Loan Program, Homes for Texas Heroes Home Loan Program, and Home Sweet Texas Home Loan Program. For more details on any of TSAHC's offerings, interested parties can review the full requirements online at ""TSAHC.org"":www.tsahc.org/.

About Author: Abby Gregory

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