Capital Area Housing Finance Corp. (CAHFC)

Austin Area DPA Programs

 
Capital Area Housing Finance Corporation Website
 
(CAHFC) Capital Area Housing Finance CorporationCapital Area Housing Finance Corporation
 
The mission of the Capital Area Housing Finance Corporation (CAHFC) is to be a meaningful and creative force for the provision of quality affordable housing for people in CAHFC’s service area. The CAHFC works with its staff, consultants, builders, realtors, lenders and local leaders to build relationships that benefit area residents, their communities and counties.
 
Created in 1981, the Capital Area Housing Finance Corporation (CAHFC) assists in meeting the housing needs of low and moderate income families in Bastrop, Blanco, Burnet, Caldwell, Fayette, Hays, Lee, Llano and Williamson Counties, as well as the City of San Marcos. CAHFC offers both single family home ownership and multi-family rental opportunities to the eligible people who meet the income requirements. They provide down payment assistance programs for first time homebuyers to aid families in achieving the goal of homeownership by decreasing the financial burden of mortgage and related purchase costs. CAHFC also finances the construction or acquisition of multi-family communities to provide market rate rental opportunities.
 
In order to further their goals, CAHFC has created two subsidiary entities, the Capital Area Affordable Housing Development, LLC and the Capital Area Multi-Housing. The Capital Area Affordable Housing Development, LLC (CAAHD) was created to build affordable single family homes in rural areas. The Capital Area Multi-Housing (CAMH) was developed to act as a non-profit owner of developer for projects finance by CAHFC or other entities. CAMH projects can include new construction or rehabilitation of existing multi-family communities. By providing these programs, and building local and regional partnerships, the CAHFC is turning local dreams of home ownership into reality while continually contributing to the economy and quality of life of the region.
 
 

Criteria for Eligibility

 
First Time Home Buyer Bond Program

  • Eligible Loans: FHA/VA/RHS (30-year, fixed rate)
  •  

  • Eligible Mortgagors:
    1. First-time Homebuyers: eligible homebuyers cannot have owned a home in the past 3 years, except for Qualified Veterans who are exempt from the first-time homebuyer requirement for this program
    2.  

    3. Maximum Family Income: (by County)

      Bastrop, Caldwell, Hays, Williamson$73,800 (2 or fewer persons) and $84,870 (3 or more persons)
       
      Blanco$68,729 (2 or fewer persons) and strong>$79,039 (3 or more persons)
       
      Burnet$37,320 (2 or fewer persons) and $78,540 (3 or more persons)
       
      Feyette$63,600 (2 or fewer persons) and $74,200 (3 or more persons)
       
      Lee$64,440 (2 or fewer persons) and $75,180 (3 or more persons)
       
      Llano$62,160 (2 or fewer persons) and $72,520 (3 or more persons)

    4.  

    5. Maimum Home Cost: 1-Unit Residence (new or existing homes)

      Bastrop, Caldwell, Hays, and Williamson- $263,164
       
      Blanco, Burnet, Fayette, Lee, and Llano- $247,032

     

  • Eligible Loan Area: Mortgage loans under the program may be made to qualifying borrowers throughout the nine-County area of the Capital Area HFC (the Counties of Bastrop, Blanco, Burnet, Caldwell, Fayette, Hays, Lee, Llano, or Williamson Counties, including the City of San Marcos in Hays County)

 
 

Mortgage Credit Certificate

 

To qualify for the Mortgage Credit Certificate (MCC):

  • The purchase price of the home cannot exceed = $258,690
  •  

  • Homebuyers must not have owned their primary residence in the last three years
  •  

  • Their income cannot exceed:

    Bastrop, Calwell, Hays, Williamson$73,300 (1-2 person households) or $84,295 (3 or more person households)
     
    Blanco$64,311 (1-2 person households) or $73,958 (3 or more person households)
     
    Burnet$64,651 (1-2 person households) or $74,349 (3 or more person households)
     
    Fayette$64,800 (1-2 person households) or $74,602 (3 or more person households)
     
    Lee$63,120 (1-2 person households) or $73,640 (3 or more person households)
     
    Llano$60,960 (1-2 person households) or $71,120 (3 or more person households)