The Texas Department of Housing and Community Affairs (TDHCA) has released $45 million in mortgage credit certificate authority through its Texas Mortgage Credit Program, a homebuyer program that makes homeownership more affordable by providing a dollar for dollar reduction of a borrower’s tax liability, not to exceed $2,000 annually. The credit authority will allow the Department to provide tax credits on approximately $150 million worth of mortgage loans, which it estimates will help approximately 1,000 eligible households purchase a home of their own once they complete a certified homebuyer education class. More information is available at www.myfirsttexashome.com
