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 their local areas. To meet their mission, these organizations offer housing solutions that are needed in their communities. HFCs also provide a variety of programs and services in addition to the provision of safe, decent, and affordable housing in the communities they serve. 

HFCs provide affordable housing that impacts the community by stimulating local economies, enhancing social stability, improving access to education and healthcare, and ultimately leading to better overall quality of life for residents.

Some examples of HFC Community Investments:

• 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
• Grants to local fire, EMS and Police Departments

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.