Bill > HB1262

This bill modifies the Texas State Affordable Housing Corporation's (TSAHC) purpose and lending programs by expanding and clarifying the target populations for affordable housing. The bill broadens the corporation's mission to explicitly include individuals and families of low, very low, and extremely low income, as well as specific professional groups eligible for home loans. Key changes include allowing first lien, single-family mortgage loans to households with incomes up to 60 percent of the median income, and creating a home loan program for professionals like firefighters, corrections officers, public security officers, veterans, emergency medical services personnel, and educators. The bill also increases the income threshold for loan eligibility from 115 percent to 140 percent of area median family income. The modifications aim to provide more flexible and accessible housing finance options for underserved populations and essential workers, with the ultimate goal of promoting public health, safety, and welfare through affordable housing initiatives. The changes will take effect on September 1, 2025.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1262