PROGRAM GUIDELINES   
PARTICIPATING LENDERS   
PROGRAM FUNDS
  • Reservation locks are available on business days between 9 am & 7 pm (10-8 EST) 
  • All other system features are available 24/7
ELIGIBLE AREAS
  • Statewide Texas
PROGRAMS Continuously Funded Programs – Assisted Rates

  • My FIRST Texas Home (MFTH)
    • MFTH Bond Loans 
      • Cannot be combined with any MCC Program in Texas
      • FHA, USDA, VA 
    • MFTH Combo Loans
      • with MCC
      • FHA, USDA, VA 
  • My CHOICE Texas Home (MCTH)

Texas MCC  Standalone & COMBO  
DOWN PAYMENT ASSISTANCE
  • Down Payment Assistance
  • multiple levels of assistance – see the Rates/Offerings Tab
BONUS GIFT FUNDS
  • TDHCA Partnership with local Housing Finance Agencies 
  • FREE gift funds to be used in conjunction with the above programs
LOAN TIMELINE REQUIREMENTS Loan Processing, Delivery, and Purchase Timetable.   

  • Borrowers must be qualified prior to locking the loan.
  • Underwriter Certified in eHP system prior to closing – All programs
  • 60 days – From Reservation to Purchase, including eHP Approval. (TDHCA My First Texas Home)
    • 90 days – From Reservation to eHP Approval. (Texas Mortgage Credit Certificate) 
ELIGIBLE LOAN TYPES
  • FHA, VA, RHS
  • Fannie Mae HFA Preferred 80% AMI
ELIGIBILITY CRITERIA
  • Dependent on the program used
INCOME  & ACQUISITION LIMIT CRITERIA  
HOME BUYER EDUCATION
  • Pre-Purchase Homebuyer education course required for all Borrowers.
FICO & DTI REQUIREMENT 
  • see Lender Guide for details 
CO-SIGNERS
  • Co-signers are permitted in accordance with Agency (FHA, VA, USDA, Fannie Mae) requirements. 
TIMELINE EXTENSION
  • an extension request in no longer requested prior to loan’s timeline expiration, View Details
 

THE AGENCY

  • Issues the programs
  • Creates the first mortgage and down payment assistance options
  • Sets the rate, term, and points, Lender relationships, Markets the program
 

 

THE LENDER

  • Take applications into Programs
  • Reserve in eHousingPlus system
  • process, underwrite, approve, fund, close and sell qualified loans to the program’s Master Servicer.
  • Check with your company on how to reserve a loan in your own system so that you have funds available for closing.
  • Responsible for servicing first and second program loans in accordance with Agency requirements until they’re purchased by the Master Servicer.
 

THE MASTER SERVICER

 

QUESTIONS?
  • Contact eHousingPlus for questions related to the compliance file, income, first-time buyer, Tax requirement, access to the program, training, eHP system, web site, administrator guidelines
  • Contact Idaho HFA for questions related to the mortgage file, escrow, DU findings, insurance, high priced loans, MDIA, Respa,  TRID, payments
Reservation/locks – Available on Business days 9:00am – 7:00pm (10 am – 8 pm EDT)  excluding holidays

Please see the below link for the rate offerings.   Be careful in selecting your option as they do differ.

    Today’s Rates – View↵

Borrowers should be qualified prior to locking reservation.

  • DPA is in the form of:
    • 0% interest , 3 Year Forgivable Second  
    • 0% interest , 30 Year Deferred Repayable Second.
  • MFTH & MCC Options require Household Income and current 3 Years Taxes for all Borrower(s) and Spouse.
  • MCTH (My Choice) requires Income for all Borrower(s).  Taxes are not required.

Please see the Summary Tab for Guidelines

Program Documents are the same for both the My First Texas Home  & Texas Mortgage Credit Certificate Programs – Note: Program forms are accessed after the loan is reserved/certified in our system. The program forms are auto-generated based on the loan data information provided at reservation, updated and certified.

The Following Lenders have been approved 

Dba – Gold Financial Services, HMG Mortgage, Asset Mortgage, K&G Capital Mortgage, Major Mortgage, Westin Mortgage Group