Texas Grant Program for Downpayment Assistance - TSAHC

[Mo Karim]

I've been getting a lot of first time investors asking if there are any programs in Texas to help with downpayment for home purchase. Usually these investors are looking to do live in flip as their primary residence. There is a program called TSAHC which was created to help buyers purchase homes. It's a great program to utilize and a creative way to get into a home with low or no money down (3-5% downpayment covered by the grant). Here are highlights of the program right from their website:

Program Benefits

• -A 30-year fixed interest rate mortgage loan, several rates and loan options available
• -Down payment assistance (DPA) 3% to 5% of the loan amount
• -You do not have to be a first-time homebuyer
• -DPA provided as a grant (never needs to be repaid) or 3-year deferred forgivable second lien loan
• -Available statewide through a network of participating lenders. TSAHC does not require borrowers to use an approved REALTOR®, however we provides several resources to help find a REALTOR® familiar with TSAHC’s programs.

My lender and I are using TSAHC with investors/buyers for their primary residence. It's important to work with lenders and agents who know how to structure a deal based on this program, proven you qualify for it. Hope this is helpful!

Website for the grant: https://www.tsahc.org/