Transcription of Guidelines for Down Payment Assistance (Bond and Non …
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Guidelines for Down Payment Assistance (Bond and Non …
Texas State Affordable Housing Corporation6701 Shirley Ave Austin, TX 78752 Guidelines for Down Payment Assistance (Bond and Non-Bond) and Mortgage Credit CertificatesRevised: October 1, 2021website: phone: 888-638-3555social media: @TSAHCTSAHC Program Guidelines for Homeownership ProgramsTexas State Affordable Housing CorporationPage 2 of 36 Revised of RevisionsDateVarious-Revised to reflect Lakeview Loan Servicing, LLC ( Lakeview ), as master servicer for the process for requesting rate lock extensions and fees for same3/30 package due within five (5) calendar days of closing4/06 Manual Underwrite 640 FICO Minimum4/19 active military to veteran definition in reference to Homes for Texas Heroes1/15 rental history requirement for first-time home buyers using MCC1/15 of Texas resident requirement for the Homes for Texas Heroes program1/15 of cosigner and non-occupying co-borrower requirements1/15 down Payment Assistance funding process1/15 , , 19-20 Addition of manufactured housing to eligible property types5/01 for using TSAHC Assistance multiple times5/01 , , 9-10 Clarified veteran definition in reference to waiving first-time home buyer requirement for Mortgage Credit Certificate5/01 completion by at least one borrower of home buyer education course5/05 , , , 19-20, 22-25 Introducing TSAHC s new soft second lien down Payment assistance8/20 soft second lien r
the eligibility and underwriting requirements of Lakeview Loan Servicing, LLC, Fannie Mae, Freddie Mac, FHA, USDA-RHS, and/or VA. For those requirements, Lenders should rely on their agreements ... 3.3 12-14 Clarified that a principal reduction is acceptable use of DPA 9/2/2020 5.2 20 Clarified only occupying borrowers and non-purchasing spouses
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