Learn More About Local Housing Finance Corporations

Local HFCs are created under the Texas Housing Finance Corporations Act of 1979, which is currently authorized under Chapter 394, of the Texas Local Government Code. While not a governmental entity, each corporation is a duly constituted nonprofit instrumentality of the government offices that sponsored the creation of the HFC.

The Purpose of Local HFCs

An HFC provides a local focus on the housing needs of various grassroots areas. To meet their mission, these organizations offer housing opportunities that are needed in their communities. These include activities that assist in the provision of safe, decent, and inexpensive housing in the communities they serve, such as:

  • Delivering down payment and closing cost assistance
  • Offering financing for quality residential rental homes
  • Planning homebuyer fairs and other informational forums
  • Organizing homebuyer education classes and financial literacy classes
  • Partnering with other providers to build local community facilities
  • Building infill housing
  • Assisting other agencies in times of disaster
  • Conducting home rehabilitation programs

HFCs also provide a variety of safe mortgage products for first-time homebuyers. These options come from tax-exempt bond financing or the issuance of Mortgage Credit Certificates.