Texas doesn't have CHFA (that's Colorado's program). Texas has TDHCA, the Texas Department of Housing and Community Affairs, which offers similar programs.
TDHCA offers: My First Texas Home (below-market interest rates with down payment assistance up to 5%), the Texas Mortgage Credit Certificate (tax credit), and other homeownership programs.
These programs are available through participating lenders and are designed to help qualifying first-time buyers achieve homeownership.
TDHCA Programs
TDHCA is the Texas equivalent of other states' housing finance agencies. They administer federal and state funds for affordable homeownership programs throughout Texas.
My First Texas Home
My First Texas Home offers below-market fixed interest rates and down payment assistance up to 5% of the loan amount. Available for FHA, VA, USDA, and Conventional loans. Must use a participating lender.
Texas MCC
The Texas Mortgage Credit Certificate (MCC) provides a federal tax credit worth 20-40% of annual mortgage interest paid. This can save qualifying buyers ,500-,000/year in federal taxes.
Eligibility Requirements
Income limits vary by county and household size. Purchase price limits apply. Must be a first-time buyer (or not owned a home in 3 years). Must complete a homebuyer education course.
How to Apply
Work with a lender approved to offer TDHCA programs. Your lender handles the application. The programs are funded on a first-come, first-served basis, so early application is important.
Benefits for Buyers
The combination of below-market rates, DPA, and MCC can make homeownership significantly more affordable. Buyers can often save 00+ per month compared to standard financing.