Who is eligible for the Homes for Heroes Program?  The Home for Heroes Bond Program is a Texas State Affordable Housing Corporation (TSAHC) down payment assistance program.  Any certified or licensed full-time paid firefighter, peace officer, county jailer, EMS personnel, public security officer and corrections officer employed in the State of Texas is eligible.  Curently, the program offers a 5% grant of the total loan amount for down payment at a 4% fixed rate.  Following are additional requirements applicants must meet:

1.     Must reside in Texas at the time of application

2.     Occupy the purchased home as primary residence

3.     Meet the income and home purchase price limits

4.     Meet standard mortgage underwriting requirements demonstrating credit worthiness

5.     Attend a HUD approved First Time Homebuyer Class

Home purchased using this program must be kept for a minimum of 10 years.  If the home is sold within the first 9 years, the Income Tax Recapture Provisions will apply.   The program is on a first come first serve basis and cannot be combined with the Mortgage Credit Certificate (MCC) program. Available funds and interest rate are subject to change.  Please contact me for more information about this or other down payment assistance programs available in the State of Texas.