Down-Payment Assistance
South Main Mortgage partners with Texas State Affordable Housing Corporation (TSAHC) to provide 30 year fixed rate mortgage loans, down payment assistance grants and second liens, as well as mortgage interest tax credit.
Types of Assistance
Assistance options are provided by the Homes for Texas Heroes and Home Sweet Texas Home Loan Programs.
Down-Payment Assistance of 2%, 3%, 4% or 5%.
Homes for Texas Heroes Program
Through our partnership with the Texas State Affordable Housing Corporation (TSAHC), we help Texans buy a home for themselves and their families. TSAHC is a nonprofit organization that was created by the Texas Legislature to help Texans achieve their dream of homeownership. Our Homes for Texas Heroes Program offers home loans and down payment assistance for teachers, police officers, firefighters and EMS personnel, corrections officers, and veterans.
Are You Eligible?
The Homes for Texas Heroes Program assists the following hero professions* with down payment assistance and fixed rate home loans.
- Professional educators, which includes the following full-time positions in a public school district: school teachers, teacher aides, school librarians, school counselors, and school nurses
- Police officers and public security officers
- Firefighters and EMS personnel
- Veterans or active military
- Correction officers and juvenile corrections officers
- Nursing faculty and allied health faculty
What if You Don’t Qualify for the Homes for Texas Heroes Program?
You may still be eligible for our Home Sweet Texas Home Program, which offers home buying assistance to Texans who don’t qualify under the Heroes program.
What Does the Homes for Texas Heroes Program Offer?
The Homes for Texas Heroes Program is designed to help Texans who serve their communities get the money and support they need to buy a home. The program serves educators, police officers, firefighters, EMS, county jailers, and correctional officers.
If you qualify, TSAHC will provide you with a mortgage loan and funding to use for your down payment. You can choose to receive the down payment assistance as a grant (which does not have to be repaid) or a deferred forgivable second lien loan (which only has to be repaid if you sell or refinance within three years).
Are You A First-Time Home Buyer?
If you are buying your first home, you can also apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). To qualify, you must meet certain income requirements and the home must meet certain sales price restrictions.
Plus, if you are a Texas Hero use an MCC and Down Payment Assistance together, your MCC is free—an additional $500 in savings!
Home Sweet Texas Home Loan Program
The Texas State Affordable Housing Corporation (TSAHC), helps Texans buy a home for themselves and their families. They are a nonprofit organization that was created by the Texas Legislature to help Texans achieve their dream of homeownership. Their Homes Sweet Texas Home Loan Program offers home loans and down payment assistance to low and moderate-income families.
What Does the Homes Sweet Texas Home Loan Program Offer?
The Homes Sweet Texas Home Loan Program is designed to help low and moderate-income Texans achieve the dream of homeownership.
If you qualify, TSAHC will provide you with a mortgage loan and funding to use for your down payment. You can choose to receive the down payment assistance as a grant (which does not have to be repaid) or a deferred forgivable second lien loan (which only has to be repaid if you sell or refinance within three years). If you’re eligible, you can essentially receive free money to help you buy a home.
Are You A First-Time Home Buyer?
If you are buying your first home, you can also apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). To qualify, you must meet certain income requirements and the home must meet certain sales price restrictions.