The Texas Department of Housing and Community Affairs recently entered into a $12 million syndicated loan agreement with Woodforest National Bank, Tolleson Private Bank, and Hancock Whitney.
“Through this syndicated loan, the TDHCA will be able to make homeownership possible for over 2,000 new first-time homebuyers,” says Woodforest National Bank Executive Vice President Doug Schaeffer.
“The lower rate on the $12 million loan to the TDHCA will enable over $350 million of lower-income first mortgages to be originated. These more affordable mortgages alleviate a portion of homeownership cost burden and create substantial economic impact in communities,” Schaeffer says.
These funds are in addition to the 2016 $10 million loan agreement with Woodforest National Bank that helped create over 1,500 new homeowners throughout Texas. It was the first public-private partnership in single-family housing finance.
Learn more about TDHCA’s programs at myfirsttexashome.org.