A Newsletter for Local Partners. 
The fACTs newsletter is for TSAHC's local partners in the Affordable Communities of Texas (ACT) program. The quarterly newsletter provides information to help make your programs as successful as possible.
An Update on the Neighborhood Stabilization Program      
In recent months, Neighborhood Stabilization Program (NSP) closings have increased in frequency. Texas Department of Housing and Community Affairs (TDHCA) made several changes to the application and approval process that should speed up future closings significantly. Here are a few changes you should be aware of:
  • Submitting the full document set for NSP home buyer applications to TSAHC is still required, but we now have authority to review and approve applications before submitting limited information to TDHCA. This should speed up the approval process.
     
  • Form 1003 (Uniform Residential Loan Application) and Form 1008 (Underwriting Worksheet) now must be signed and dated by the participating first lien lender. TSAHC will continue to assist local partners in collecting these signed documents from lenders. Borrowers will also continue to be able to sign Form 1003 at closing, which is standard lending practice.
     
  • TDHCA wants everyone to remember that under the NSP program guidelines, at least half of the required down payment on a property must be paid by the borrower or by funds other than NSP funds. Additionally, a borrower must make a minimum investment of $500 of his/her own money. An example would be when a home buyer uses an FHA mortgage that requires a minimum investment of 3.5% of the sales price. For a $100,000 home, the minimum FHA investment would be $3,500. NSP down payment assistance could account for up to $1,750 (one-half of the $3,500) while the remaining $1,750 must be paid by the home buyer directly and/or through another non-NSP funding source. Please remember that at least $500 of the down payment must always come from the home buyer directly.
Learn More About TDHCA's Administration of NSP.
Expanded Eligibility for Two Affordable Communities of Texas-Veteran Homes
TSAHC has two ACT-Veteran properties (pictured to the right) that are available at a discount of 25% off the listing price to veterans or first responders who are disabled and/or low-to-moderate income. Additionally, the homes are available without a discount to individuals and families who earn 80% or less of the area median family income. TSAHC encourages REALTORS® and housing partners to share information about these two properties with individuals who may qualify.   


ACT-Veteran Home with Expanded Eligibility
109 Seaman Drive
Silsbee, Texas

Property Flier
Property Video


ACT-Veteran Home with Expanded Eligibility
2405 #5 N. Ed Carey Drive
Harlingen, Texas

Property Flier
Property Video
ACT Program Contacts
Dave Danenfelzer
Manager of Development Finance 
512.477.3562 
 
Jo Ropiak 
Senior Coordinator of Development Finance Programs
512.334.2155