Affordable Housing Programs from TSAHC get Borrower-Friendly Changes

The Texas State Affordable Housing Corporation (TSAHC) announced changes to its down-payment assistance and mortgage credit certificate programs beginning April 3 that will reduce fees for borrowers and expand eligibility in some instances.

Among the changes are simplified income limits, lower minimum FICO scores, allowing manual underwrites on FHA loans at no extra cost, and accepting Automated Underwriting System approvals with no debt-to-income ratio max. A comparison of the changes going into effect April 3 with previous requirements can be found here.

The changes apply only to new reservations on April 3 or later. The previous program requirements will be effective through March 31.