LO Eligibility
To be eligible to originate a Home Sweet Texas loan, the Texas State Affordable Housing Corporation (TSAHC) requires all individual loan officers to complete training requirements and submit the certificate to UWM. The Home Sweet Texas Training Mortgage Broker Only Module provided through the Texas State Affordable Housing Corporation (TSHAC) training portal must be completed. Upon completion, the certificate should be emailed to [email protected].
- Upon passing the post-training exam, the completion certificate can be downloaded
- UWM will confirm and retain the completion certificate for continued access to the program
- If an additional copy of the certificate is needed, the Texas State Affordable Housing Corporation (TSAHC) can be contacted for a copy
- The certificate expires 2 years after completion; evidence of re-training or evidence that a Home Sweet Texas loan has been originated in the prior 24 months can be provided for renewal
- If previous training has been completed to originate Home Sweet Texas loans with other lenders, that certificate can also be provided to UWM.
Loan Details
- Available on Conventional (Fannie Mae or Freddie Mac), FHA, VA and USDA loans
- 2%, 3%, 4% and 5% assistance levels available based on the total loan amount
- This is a 3-year deferred forgivable loan as a second lien
- The assistance must be repaid during the 3-year period upon sale, transfer of title, refinance, the first lien being paid in full, failure to occupy the property as the principal residence or other event of default
- The funds can be used to help with the down payment, closing costs, prepaids and other related fees or expenses
- AMI Limits: There are varying income limits based on Non-Targeted and Targeted areas. To see a list of the income limits, click here. To see if a property is in a targeted area, use the look up tool here.
- Borrowers are not required to be first-time homebuyers, however at least one borrower must complete a homebuyer education course prior to closing the loan
- Accepted courses can be found at texasfinancialtoolbox.com
