STATE OFFERS FUNDS TO FIRST-TIMERS

DALLAS (Dallas Business Journal) – The Texas Department of Housing and Community Affairs is offering $45 million to consumers through its first-time homebuyer program.

“Despite all the negatives we hear from other states, the fact is that the Texas economy — and the demand for homeownership — both remain quite healthy,” said Michael Gerber, executive director of the state agency. “Many families want and are ready to take that exciting step toward homeownership, and TDHCA wants to help them achieve their dreams through safe, reliable lending products offered through the state, coupled with responsible homebuyer education."

The Texas Mortgage Credit Program will help reduce borrowers' tax liability by offering a credit in exchange for taking a certified homebuyer education class. Homebuyers could save up to $2,000 in annual taxes.