ESBD_File_350516_EXHIBIT I Commitment Lot Rate Notice 2.13.24.pdf
PDF 22 KB Posted
- Attached to
- Master Servicer
- Solicitation number
- 332-RFP24-1004
- Issued by
- Travis County, Austin City, Texas
About this file
This document is an Exhibit I Commitment Lot Rate Notice related to the Texas Department of Housing and Community Affairs' (TDHCA) Single Family Mortgage Loan Program, which provides first and second lien mortgage loans to low and moderate-income homebuyers through the My First Texas Home Program (MFTH) and the My Choice Texas Home Program (MCTH). The program is applicable to homebuyers in the jurisdictions of Travis County and the City of Austin. The document outlines the various loan options, interest rates, down payment assistance amounts, and applicable fees for the MFTH and MCTH programs. It also provides information on program compliance fees, purchase review fees, and extension costs.
The document does not contain any information about a specific state or local contract opportunity. Instead, it provides details on the mortgage loan programs offered by TDHCA to support low and moderate-income homebuyers in the state of Texas, with a focus on the Travis County and City of Austin jurisdictions.
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Text version
My FIRST Texas Home (MFTH)
30-YEAR DEFERRED REPAYABLE SECOND LIEN 2 Pts DPA 3 Pts DPA 4 Pts DPA 5 Pts DPA 2 Pts DPA 3 Pts DPA 4 Pts DPA 2 Pts DPA 3 Pts DPA 4 Pts DPA
MFTH Bond Loans 6.625% N/A N/A N/A
MFTH Targeted Area Bond Loans 6.625% 6.875% N/A N/A
30-YEAR FIRST LIEN UNASSISTED NO DPA
MFTH Bond Loans N/A
MFTH Targeted Area Bond Loans N/A
My CHOICE Texas Home (MCTH)
3-YEAR FORGIVABLE SECOND
Fully Forgiven After 36 Month Maturity Date
2 Pts DPA 3 Pts DPA 4 Pts DPA 5 Pts DPA 2 Pts DPA 3 Pts DPA 4 Pts DPA 2 Pts DPA 3 Pts DPA 4 Pts DPA
MCTH Loans 7.500% 7.875% 8.125% N/A 8.000% 8.500% N/A 8.250% 8.750% N/A
30-YEAR DEFERRED REPAYABLE SECOND LIEN 2 Pts DPA 3 Pts DPA 4 Pts DPA 5 Pts DPA 2 Pts DPA 3 Pts DPA 4 Pts DPA 2 Pts DPA 3 Pts DPA 4 Pts DPA
MCTH Loans 7.375% 7.500% 7.875% N/A 7.875% 8.250% N/A 7.875% 8.375% N/A
APPLICABLE TO ALL LOANS ORIGINATED THROUGH THE ABOVE LOAN OPTIONS
Origination Points 0% SRP to Lender 2.50%
Program Compliance Fee (Hilltop) $225 Tax Service Fee (IHFA) $85
Purchase Review Fee (IHFA) $150 7-Day 0.0625% 22-Day 0.1875% MCC Issuance Fee (Hilltop) $400 15-Day 0.1250% 30-Day 0.2500% Flood Certification Fee (IHFA) $10
*Program Compliance Fees apply to all Loan Reservations
Additional Down Payment Assistance Available in Designated Counties, For more Information Please Visit:
https://thetexashomebuyerprogram.com/additional-grant-down-payment-assistance
Loans must be purchased within 60 days of date reserved.
Extensions available at the following cost:
Notice #823---CHANGE NOTICE DAILY
Only Available on My Choice, See Below
Only Available on My Choice, See Below
No first-time homebuyer requirement; considers standard lender income calculation (1003/credit qualifying income); no recapture.
Government Loans
(FHA, USDA, VA)
Conventional Loans (Fannie Mae Preferred)
<= 80% AMFI
Conventional Loans (Fannie Mae Preferred)
> 80% AMFI
2/13/2024 First-time homebuyer requirement (except loans in Targeted Areas); considers income of all person(s) who will sign the Deed of Trust (including non-purchasing spouse); recapture tax provision applies.
Government Loans
(FHA, USDA, VA)
Conventional Loans (Fannie Mae Preferred)
<= 80% AMFI
Conventional Loans (Fannie Mae Preferred)
> 80% AMFI
File details come from the government source that posted it. Updated .