Lender Qualifications

The Travis County Housing Finance Corporation is pleased to offer the Hill Country Home Down Payment Assistance (DPA) Program! The program is designed to help homebuyers obtain FHA, VA or USDA-RD loan financing to purchase a home anywhere in Travis County, including the City of Austin. A lack of funds for the down payment is often a significant obstacle to homeownership. In an effort to remove this barrier, low to moderate income homebuyers that qualify for the Hill Country Home DPA program will receive a 30-year fixed rate loan, with a non-repayable grant of a total of 4% or 5% of the loan amount to use for down payment or closing cost assistance. Each qualified homebuyer family will receive a gross 4%, 5% or 6% non-repayable grant for down payment assistance and closing costs based on the initial principal balance of the mortgage loan. In each case , a portion is charged by the participating lender, so net down payment assistance ranges from 2.5% to 4.5% depending on qualification. For more information on this, please contact a participating lender.

Click here for brochure summarizing program criteria

Financing is available for new or existing homes, and can include single-family homes, condominiums, or townhomes. Manufactured homes are not permitted to participate in the program. Unlike many other DPA programs, the Hill Country Home DPA Program is not restricted to first-time homebuyers, though buyers must occupy the home as their principal residence. The Program offers an interest rate on the First Mortgage Loan that is slightly above market rate, so it is the borrower’s decision and choice to receive the First Mortgage Loan under the Hill Country Home DPA Program with the net 3.5% DPA grant, or 2.5% DPA grant depending on qualifying factors, rather than to receive another 30-year fixed rate mortgage loan without DPA at a lower rate from its lender or from another lender. The interest rate for the program varies daily based on market conditions – ask your lender for the current rate. For a HUD approved disclosure on the program, please click here.


Lender Information Worksheet


Lender Agreement


Administrator Guidelines


Contact

Program Administrator
eHousingPlus

Paloma Miranda
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P: (954) 217-0817 X 210

eHousingPlus.com
Structuring Agent
Raymond James

Jennifer Payne
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P: (404) 279-5950

raymondjames.com