Housing Connection
January 2023
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Building communities together.
TSAHC believes in the power of education and building capacity for our nonprofit housing partners. Through Housing Connection, we help affordable housing and counseling organizations access trainings, promote themselves, build capacity, as well as provide a network where best practices can be shared.
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Coming February 1: TSAHC's 4% Bond Down Payment Assistance Product
On February 1st, TSAHC will launch a new bond down payment assistance (DPA) product. This DPA has limited availability (first come, first served) and will offer the following benefits to first-time home buyers:
- Competitive interest rate on first-lien mortgage
- DPA structured as a 4%, 3-year deferred forgivable second lien
- Available on all government (FHA/VA/USDA) loan types
- No profession requirements (not limited to Texas Heroes)
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No first-time home buyer requirement in Targeted Areas
Please note that this assistance cannot be combined with MCC and is restricted to first-time buyers earning up to 80% AMFI.
Bond DPA Resources
If you want to find out more, check out the video below. We will provide additional resources on February 1st. Please contact our Homeownership Team if you have questions.
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Now Available: Texas Foundations Fund Disaster Recovery Application
Since our inception, we've been working to support Texans' path to housing stability. Through the Texas Foundations Fund, we provide grants to support nonprofit partners providing critical home repairs or supportive housing services in their communities.
This year, in order to more efficiently provide funding to repair organizations in the wake of a potential disaster, we created a disaster recovery fund that will accept applications throughout the year. As long as funding is still available, organizations will be able to help their communities recover and rebuild immediately following a disaster.
The total available for TSAHC's fiscal year 2023 is $250,000. Organizations that are interested in the eligibility criteria and program details can find more information by reading these program guidelines. Click here for detailed instructions on how to apply.
If you have questions about applying or the program, contact Anna Orendain.
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Get Involved in the #HUDCertifiedProud Campaign
The U.S. Department of Housing and Urban Development (HUD) is celebrating HUD certified housing counselors and the expertise required to become one through its #HUDCertifiedProud campaign. According to HUD, the campaign is "intended to encourage and recognize housing counselors who have achieved HUD certification and educated others about the professionalization of housing counseling."
How You Can Get Involved
- HUD certified counselors are encouraged to use the "HUDCertifiedProud" hashtag in their email signature and on social media like posting, "I am officially #HUDCertifiedProud" on LinkedIn or other networks.
- Organizations that include or employ housing counselors are encouraged to celebrate HUD certification on social media, listservs, and their website by adding the hashtag to their website and distributing it internally and/or externally to help spread the word about the campaign and encourage others to get involved. As an example, an organization could post, "All our housing counselors are #HUDCertifiedProud."
The campaign seeks to give credit and recognition to HUD-approved housing counselors and the organizations that either employ them or count them as members. If you wish to be part of the campaign, visit HUD Exchange to download graphics to include in email signatures and social media posts.
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February 6th - 10th, 2023
Webinars vary monthly
On-demand virtual financial wellness counseling training
On-demand virtual trainings
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Recent News:
Established in 2018, the Rural Rental Housing Association Scholarship Fund promotes education and expands opportunities for residents of affordable housing in rural America. The Scholarship Fund will award up to five scholarships. Each scholarship will be a one-time scholarship for educational expenses, with the recipient being eligible to re‐apply annually, as long as the requirements are met. The Scholarship Fund is accepting applications now through May 1, 2023. Click here for more information including the application and instructions.
Source: HUD Exchage
The need for more affordable housing in the U.S occupies the minds of consumers and housing professionals alike. Manufactured housing has an important role to play as a solution, and counselors need to be informed about this type of housing. In October 2022, OHC will launch an updated Housing Counselor Certification exam with new questions related to manufactured housing.
Source: Consumer Financial Protection Bureau Office of Research Blog
The past two years of high inflation have been difficult for renters. In our recent report, Making Ends Meet in 2022, we found that nearly one third of renters did not pay or were late with the rent at least once in the last year. As we discussed in a previous blog post in this series, housing is a large share of overall expenditures and housing inflation has been a big part of recent inflation. Rents have increased rapidly in many areas. At the same time, the cost of buying a home has increased, pricing out many potential homebuyers.
Source: Consumer Financial Protection Bureau Office of Research Blog
Over the past two years, interest rates have risen from historical lows to as high as 7% for 30-year fixed-rate mortgages. Interest rates have remained elevated at levels that haven’t been seen for nearly 20 years. According to recent CFPB analysis of quarterly HMDA data, these higher rates have already led to increased monthly payments and higher debt-to-income ratios for mortgage borrowers.
Source: TSAHC's On the House Blog
This week, we're looking forward into 2023 as we recap a few housing market experts' predictions for the coming year. Compared to the historically low interest rates that were available early in the COVID-19 pandemic, the slight decline in mortgage interest rates that is predicted for 2023 may not seem all that positive. However, as NextAdvisor points out, interest rates between 6% and 7% are considered average when looking at rates throughout history.
Source: HUD Exchange
As the Nation's premier initiative focused on building the knowledge, skills, and capacity of HUD's FHIP- and FHAP-funded state, local, and private organization partners, the National Fair Housing Training Academy (NFHTA) provides training and resources that offer opportunities to learn, interact, and build connections.
Throughout FY 2022, NFHTA trained over 700 fair housing professionals through instructor led courses, hosted over 7,300 attendees during the National Fair Housing Forums, and met with 115 FHIP & FHAP leaders during the August Convening.
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