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REALTORS®

REALTORS®

Build your business while helping Texans.

Your client pool is larger than you think.

Many aspiring homeowners are closer to the dream of homeownership than they realize. You can help them get there. Your expert knowl­edge in partnership with The Texas Homebuyer Pro­gram will expand your business and help put Texans into their first homes.

Let us help you learn how to edu­cate new and eager buy­ers who need our joint expertise and guidance.

Participation Benefits for REALTORS®

  • Brand yourself as an expert: Stand apart from the crowd of REAL­TORS® by brand­ing your­self as an expert in down pay­ment assis­tance and mort­gage cred­it cer­tifi­cates. Make a dif­fer­ence in someone’s life by pro­vid­ing expert guid­ance. Through participation you show­ Texans that together, home­own­er­ship is possible.
  • Build your referral base: Not only will you become a part of our extensive partnership network, but you’ll help Texans fulfill their dreams and word-of-mouth is powerful.
  • Earn commissions: Work­ing with first time home buy­ers comes with many rewards beyond smiles and grat­i­tude. Of course there are also commissions. Not just that, but commissions from a relatively untapped niche market.

Steps for REALTORS®

Step 1

Review the Texas Homebuyer Program Guidelines

Here’s what you will learn as part of the Texas Homebuyer REALTOR® Training:

  • My First Texas Home Program: Offers a 30-year, fixed inter­est rate mort­gage loan pro­gram for qualifying first time homebuyers, residing in Texas, earning income limits up to 115AMFI.
  • My Choice Texas Home: Offers a 30-year, fixed interest rate mortgage loan program for your repeat homebuyer.
  • Down payment and closing cost assistance up to 5% of the loan amount
  • Texas Mortgage Credit Certificate Program (“TXMCC”): Offers a tax credit every year based on the interest paid on the homebuyer’s mortgage loan.
  • Texas Homebuyer U: Offers two free, online courses that satisfy the education requirement for TDHCA’s first time homebuyer programs and an introductory course to its Texas Mortgage Credit Certificate (TX MCC) Program.
  • Income and Purchase Price Limits
Step 2

Learn how to be a Partner with our Continuing Education Courses

Continuing Education is the backbone of a great REALTOR®. The Texas Homebuyer Program has a variety of ways for you to learn about our programs and participate as you see fit. 

Earn Continuing Education (CE) credit and the Aspiring Homebuyer Specialist designation, available only through TDHCA’s Texas Homeownership Division.

  • Four hours of Texas Real Estate Commission (TREC) approved mandatory continuing education (CE) credit found to be invaluable to Texas REALTORS®; Offered by the Texas Homeownership Division of the Texas Department of Housing and Community Affairs, Texas’ only state housing finance agency.

Earn one hour of CE credit with successful completion of:

  • One hour of Texas Real Estate Commission (TREC) approved mandatory continuing education (CE) credit offered by the Texas Homeownership Division of the Texas Department of Housing and Community Affairs.

Visit our Calendar for upcoming CE course offerings. 

Benefits of Participating in Texas Homeownership Continuing Education

  • Inclusion on Texas Homeownership REALTORS® Locator List. 
  • Referrals from the Texas Homeownership REALTORS® Locator List.
  • Active buyers will see your contact information and know you are a trained professional who is ready to help them.
  • Participating as a Preferred Texas Homeownership REALTOR® puts you ahead of the game and the competition.


REALTOR® Resources

The Texas Homebuyer Program requires a 620 Fico Score.

All other credit requirements are addressed with AUS and Underwriting Findings.

Amor­ti­za­tion
In ear­ly years of an amor­tized loan, almost all of the pay­ment is applied toward inter­est, while in the last years of the loan, almost all of the pay­ment is applied to reduce the principal.

Clos­ing Costs & Pre­paids
Costs paid in addi­tion to the down pay­ment on clos­ing day. They can include attor­ney fees, loan orig­i­na­tion fee, loan dis­count point, appli­ca­tion fee, appraisal fee, cred­it report, doc­u­ment prepa­ra­tion, escrow fee, sur­vey and record­ing fees, tax escrow, haz­ard insur­ance, flood zone cer­ti­fi­ca­tion, two months of pri­vate mort­gage insur­ance (if down pay­ment is less than 20 per­cent) and some­times the entire first year’s pri­vate mort­gage insur­ance pre­mi­um. Typ­i­cal­ly, the appraisal and cred­it report fees are paid at application.

Clos­ing Dis­clo­sure
This new form com­bines and replaces the HUD1 and final Truth in Lending(TIL) dis­clo­sure. A lender is required to pro­vide the Clos­ing Dis­clo­sure to the bor­row­er no lat­er than three busi­ness days before loan clos­ing. This form is a state­ment of final loan terms, pro­ject­ed pay­ments and clos­ing costs. Com­pare this doc­u­ment with your Loan Estimate.

Down Pay­ment
The dif­fer­ence between the mort­gage and the low­er of the pur­chase price or appraisal. The min­i­mum down pay­ment is three and a half (3.5%) per­cent on most loans. Pri­vate mort­gage insur­ance is required for a down pay­ment less than 20 percent.

Earnest Mon­ey
Deposit mon­ey giv­en to the sell­er by the poten­tial buy­er to show that he is seri­ous about buy­ing the house. If the deal goes through, the earnest mon­ey is applied to the down pay­ment. If the deal does not go through, it may be forfeited.

Equi­ty
The dif­fer­ence between a home’s fair mar­ket val­ue and the loan amount, and/​or encum­brances (such as liens or claims) against it.

Loan Esti­mate
This new form com­bines and replaces the Good Faith Estimate(GFE) and the ini­tial Truth in Lending(TIL) dis­clo­sure. It must con­tain a good faith esti­mate of cred­it costs (loan costs and oth­er costs) and trans­ac­tions terms. Loan Costs are costs paid by the con­sumer to the lender and third-par­ty providers of ser­vices the lender requires to be obtained by the bor­row­er dur­ing the orig­i­na­tion of the loan. Oth­er Costs include tax­es, gov­ern­men­tal record­ing fees, and cer­tain oth­er pay­ments includ­ed in the real estate clos­ing trans­ac­tion. A Cal­cu­lat­ing Cash to Close table shows the bor­row­er how the amount of cash need­ed at clos­ing is cal­cu­lat­ed. The lender is required to pro­vide the Loan Esti­mate with­in three days of receipt of the bor­row­ers loan application.

Mar­ket Rate
An esti­mate of the aver­age inter­est rate being charged by lenders for con­ven­tion­al (Fan­nie Mae/​Freddie Mac) or FHA/VA loans.

Orig­i­na­tion Fee
The orig­i­na­tion fee is what the lender charges for estab­lish­ing the loan. It is includ­ed in the clos­ing costs and may be financed.

Points or Dis­count Points
A point or dis­count point is one per­cent of the loan amount and is charged by the lender to issue a loan at below mar­ket rates.

Pri­vate Mort­gage Insur­ance
On con­ven­tion­al financ­ing, lenders require that the bor­row­er pur­chase Pri­vate Mort­gage Insurance(PMI) to pro­tect the lender against default on loans with less than 20 per­cent down pay­ment. PMI has noth­ing to do with home­own­ers insur­ance or cred­it life insur­ance. PMI should cost the same at all lenders.

Qual­i­fy­ing
A buy­er must qual­i­fy for a loan. Typ­i­cal­ly, the month­ly pay­ment can­not be more than 25 per­cent to 28 per­cent of the buyer’s gross month­ly income, and all the buyer’s month­ly debt can­not total more than 33 per­cent to 36 per­cent of his/​her month­ly income. Some lee­way may be grant­ed based upon pri­or cred­it his­to­ry, down pay­ment, job his­to­ry, etc.

Title
An instru­ment that shows the buy­er has a clear own­er­ship of the prop­er­ty. A loan does not usu­al­ly close until the title com­pa­ny has assured the lender that there are no hid­den prob­lems with a title to a piece of property.

Title Insur­ance
A pol­i­cy required by the lender and paid for by the bor­row­er that insures the lender clear title against future claims. Bor­row­ers may also pur­chase title insur­ance to pro­tect their equity.

How do I get on the list of preferred REALTORS® ?

Upon completion of The Texas Homebuyer Program qualified Continuing Education Training you will be eligible to be listed on the Homeownerhip REALTOR® Locator.

Where and when can I take online training about The Texas Homebuyer Program?

Stay tuned to sign up for our special, 4‑hour TREC-approved Continuing Education course. Additionally, The Texas Homebuyer Program team is full of detailed information on all Programs. Check our calendar for upcoming training and events.

Is there a Cost for the training?

Typically, The Texas Homebuyer Program Realtor® training is free. Occasionally, certain Continuing Education classes may incur a nominal fee.

What is the first step for my client to pursue down payment assistance?

Recommend your future homebuyer take the free, online Texas Homebuyer U courses for first-time home buyers and the MCC Mortgage Credit Certificate Class.

Help your buyer choose a lender from the The Texas Homebuyer Program lender locator. These lenders have been trained and are authorized to add The Texas Homebuyer Program’s down payment assistance and TxMCC to your buyer’s loan.

How do I help my buyer make sure they qualify for and obtain a MCC (Mortgage Credit Certificate)?

If the buyer qualifies for the TxMCC, stay in close contact with the chosen Lender and help the buyer make sure a MCC is included while the loan is being underwritten.

Does TDHCA recommend certain REALTORS®?

As a state agency, TDHCA must remain impartial and cannot steer buyers to one REALTOR® over another. The best way to stand out is to have taken the Homebuyer Continuing Education training so you qualify to be on the REALTOR® Locator List.

How can I become a trainer for affordable housing?

At this time, The Texas Homebuyer Program staff provides all official homebuyer training.

Are down payment funds always available from The Texas Homebuyer Program?

While funds are technically finite and limited, The Texas Homebuyer Program is backed by the State of Texas which means a healthy and reliable budget is always available.

Where do I learn about the most recent Program Guidelines?

Download PDF

How do I request Marketing materials?

See printable flyer options under Realtor® Resources or contact Lisa Johnson.

MCC Calculator

This is an estimate based on the loan amount entered, mortgage interest rate percentage entered and applicable MCC credit rate and should not be used as any type of official documentation.