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, USDA-RD or a Freddie Mac HFA Advantage 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 competitive 30-year fixed rate loan, with assistance of either 4%, 5% or 6% of the initial principal balance of the loan amount to use for down payment or closing cost assistance. The assistance is in the form of a 0% interest, 10-year forgivable second mortgage loan. In each case, a program fee may be charged by the participating lender, so net down payment assistance can vary depending on the qualification of the borrower and the loan type chosen.
For more information, please read the 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 at this time. 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 interest rates on the First Mortgage Loan that are competitive with current market rates. It is the borrower’s decision and choice to receive either the First Mortgage Loan under the Hill Country Home DPA Program with the net assistance of 4.5%, 3.5% or 2.5% in the form of a 0% interest, 10-year forgivable Second Mortgage (depending on qualifying factors), rather than to receive another 30-year fixed rate mortgage loan without DPA at a lower rate from any lender chosen by the borrower. The interest rates for the program can vary daily based on market conditions. More information on the program can be found in the Administrator’s Guidelines.
Should your company wish to participate in the Hill Country Home DPA program, please execute and return the Lender Information Worksheet and the Lender Agreement (found below) to This email address is being protected from spambots. You need JavaScript enabled to view it. with Raymond James. Original documents are not needed and there is NO COST to participate. Participating lenders must be an approved lender with the master servicer, US Bank, and complete the required training in order to gain access to the reservation system. Please contact Raymond James with any questions on how to participate or become an approved lender with US Bank.
