Tex. Gov't Code Section 2306.754
Amount of Loan; Loan Terms

(a)

The department may establish the minimum amount of a loan under this subchapter, but a loan made by the department may not exceed $45,000.

(b)

If it is not possible for an owner-builder to purchase necessary real property and build or rehabilitate adequate housing for $45,000, the owner-builder must obtain the amount necessary that exceeds $45,000 from other sources of funds.

(c)

A loan made by the department under this subchapter:

(1)

may not exceed a term of 30 years;

(2)

may bear interest at a fixed rate of not more than three percent or bear interest in the following manner:

(A)

no interest for the first two years of the loan;

(B)

beginning with the second anniversary of the date the loan was made, interest at the rate of one percent a year;

(C)

beginning on the third anniversary of the date the loan was made and ending on the sixth anniversary of the date the loan was made, interest at a rate that is one percent greater than the rate borne in the preceding year; and

(D)

beginning on the sixth anniversary of the date the loan was made and continuing through the remainder of the loan term, interest at the rate of five percent; and

(3)

shall be secured by:

(A)

a first lien by the department on the real property if the loan is the largest amortized, repayable loan secured by the real property; or

(B)

a co-first lien or subordinate lien as determined by department rule, if the loan is not the largest loan as described by Paragraph (A).

(d)

If an owner-builder is purchasing real property under a contract for deed, the department may not disburse any portion of a loan made under this subchapter until the owner-builder:

(1)

fully completes the owner-builder’s obligation under the contract and receives a deed to the property; or

(2)

refinances the owner-builder’s obligation under the contract and converts the obligation to a note secured by a deed of trust.
Added by Acts 1999, 76th Leg., ch. 1548, Sec. 1, eff. Aug. 30, 1999. Amended by Acts 2001, 77th Leg., ch. 1367, Sec. 2.09, eff. Sept. 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1365 (S.B. 679), Sec. 5, eff. June 19, 2009.
Acts 2017, 85th Leg., R.S., Ch. 1020 (H.B. 1512), Sec. 1, eff. June 15, 2017.

Source: Section 2306.754 — Amount of Loan; Loan Terms, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­2306.­htm#2306.­754 (accessed Jun. 5, 2024).

2306.001
Purposes 2306.002
Policy 2306.003
Public Purpose 2306.004
Definitions 2306.005
References to Former Law 2306.006
Rules of Abolished Agencies 2306.007
Establishing Economically Depressed or Blighted Areas 2306.008
Preservation of Affordable Housing 2306.022
Application of Sunset Act 2306.024
Board Members: Appointment and Composition 2306.025
Terms of Board Members 2306.027
Eligibility 2306.028
Training 2306.030
Presiding Officer 2306.031
Members’ Compensation 2306.032
Board Meetings 2306.033
Removal of Members 2306.034
Disqualification of Members and Certain Employees 2306.035
Lobbyist Restriction 2306.036
Employment of Director 2306.037
Director’s Compensation 2306.038
Acting Director 2306.039
Open Meetings and Open Records 2306.040
Department Participation in Legislative Hearing 2306.041
Imposition of Penalty 2306.042
Amount of Penalty 2306.043
Report and Notice of Violation and Penalty 2306.044
Penalty to Be Paid or Hearing Requested 2306.045
Hearing 2306.046
Decision by Board 2306.047
Options Following Decision: Pay or Appeal 2306.048
Stay of Enforcement of Penalty 2306.049
Decision by Court 2306.050
Remittance of Penalty and Interest 2306.051
Separation of Responsibilities 2306.052
Director’s Powers and Duties 2306.053
Department Powers and Duties 2306.054
Special Advisory Councils 2306.055
Transfers from Governor 2306.056
Committees 2306.057
Compliance Assessment Required for Project Approval by Board 2306.061
Standards of Conduct 2306.063
Performance Evaluations 2306.064
Equal Employment Opportunities 2306.065
Discrimination Prohibited 2306.066
Information and Complaints 2306.067
Loaned Employees 2306.068
Interagency Cooperation 2306.069
Legal Counsel 2306.071
Funds 2306.072
Annual Low Income Housing Report 2306.073
Internal Audit 2306.074
Audit 2306.075
Tax Exemption 2306.076
Insurance 2306.077
Internet Availability 2306.078
Information Regarding Housing for Persons with Disabilities 2306.080
Database Information Specialist 2306.081
Project Compliance 2306.082
Negotiated Rulemaking 2306.083
Application Requirement for Colonias Projects 2306.092
Duties Regarding Certain Programs Created Under Federal Law 2306.093
Housing Assistance Goal 2306.094
Services for the Homeless 2306.097
Energy Services Program for Low-income Individuals 2306.111
Housing Funds 2306.112
Preparation and Content of Annual Budget 2306.113
Board Consideration of Annual Budget 2306.114
Filing of Annual Budget 2306.115
Failure to Adopt Annual Budget 2306.116
Amended Annual Budget 2306.117
Payment of Expenses 2306.118
Deposit of Funds with Texas Treasury Safekeeping Trust Company 2306.119
Selection of Depository for Operating Funds 2306.120
Selection of Depository Under Covenants of Bonds or Trust Indentures 2306.121
Records 2306.123
Area Median Income 2306.124
Rules Regarding Housing Developments 2306.125
Court Actions 2306.126
Exemption from Property Tax 2306.127
Priority for Certain Communities 2306.141
Rules 2306.142
Authorization of Bonds 2306.143
Alternative to Subprime Lender List 2306.144
Fees for Services and Facilities 2306.145
Loan Procedures 2306.146
Interest Rates and Amortization Schedules 2306.147
Fees and Penalties 2306.148
Underwriting Standards 2306.149
Approved Mortgage Lenders 2306.150
Property Standards 2306.151
Target Strategy for Bond Proceeds 2306.152
Eligibility Criteria 2306.171
General Duties of Department Relating to Purposes of Housing Finance Division 2306.172
Acquisition and Use of Money 2306.173
Investments 2306.174
Acquisition and Disposition of Property 2306.175
Transfer and Disposition of Property 2306.176
Fees 2306.177
Hearings 2306.178
Insurance 2306.179
Investigation 2306.180
Encouraging Home Ownership 2306.181
Targeting Bond Proceeds 2306.182
Loans to Lenders 2306.183
Needs of Qualifying Individuals and Families in Rural Areas and Small Municipalities 2306.184
Disclosure of Fees 2306.185
Long-term Affordability and Safety of Multifamily Rental Housing Developments 2306.186
Mandatory Deposits to Fund Necessary Repairs 2306.187
Energy Efficiency Standards for Certain Single and Multifamily Dwellings 2306.188
Establishing Home Ownership in Disaster Area 2306.201
Housing Trust Fund 2306.202
Use of Housing Trust Fund 2306.203
Rules Regarding Administration of Housing Trust Fund 2306.204
Independent Audit of Housing Trust Fund 2306.205
Transfer of Money to Housing Trust Fund 2306.206
Housing Trust Fund Not Subject to Texas Trust Code 2306.207
Reserve Fund 2306.221
Housing Development Loans 2306.222
Contracts and Agreements Regarding Housing Developments 2306.223
Criteria for Financing Housing Development of Housing Sponsor 2306.224
Loan Terms and Conditions 2306.225
Ratio of Loan to Development Cost 2306.226
Interest Rates 2306.227
Prepayment of Mortgage Loans 2306.228
Loan Fees 2306.229
Documents Supporting Mortgage Loans 2306.230
Agreements Regarding Certain Limitations on Housing Sponsors 2306.231
Loan Conditions Relating to Department Powers 2306.232
Texas Housing Agency Loan or Guarantee 2306.251
Property Ownership Program 2306.252
Housing Resource Center 2306.253
Homebuyer Education Program 2306.255
Contract for Deed Conversion Program 2306.256
Affordable Housing Preservation Program 2306.257
Applicant Compliance with State and Federal Laws Prohibiting Discrimination: Certification and Monitoring 2306.258
Transitional Housing Pilot Program 2306.259
Affordable Housing Research and Information Program 2306.261
Supervising Housing Sponsors 2306.262
Uniform Systems of Accounts and Records 2306.263
Reporting 2306.264
Inspections and Examinations 2306.265
Operation, Maintenance, and Repair 2306.266
Fees Relating to Regulation 2306.267
Compliance with Applicable Laws, Rules, and Contract Terms 2306.268
Rents and Charges 2306.269
Tenant and Manager Selection 2306.270
Regulation of Retirement of Capital Investment or Redemption of Stock 2306.271
Cost Controls 2306.272
Housing Sponsor Investments 2306.273
Limitation on Application of Certain Provisions of Subchapter 2306.291
Purchase and Sale of Mortgage Loans 2306.292
Eligibility of Mortgage Loans for Purchase 2306.293
Federally Assisted Mortgage Loans 2306.294
Mortgage Loan Purchase Price 2306.295
Rules Governing Purchase and Sale of Mortgage Loans 2306.296
Review and Substitution of Purchased Mortgage Loans 2306.297
Application of Provisions Relating to Loan Terms and Conditions 2306.0321
Appeal of Board and Department Decisions 2306.351
Issuance of Bonds 2306.352
Texas Housing Bonds 2306.353
Revenue Bonds 2306.354
Definitive Refunding Bonds 2306.355
Issuance of Additional Parity or Subordinate Lien Bonds 2306.356
Issuance of Bonds to Fund Department Reserves or Funds 2306.357
Bonds Issued by Texas Housing Agency 2306.359
Issuance of Private Activity Bonds 2306.371
Board Authorization of Bonds 2306.372
Department Procedures 2306.373
Use of Bond Proceeds 2306.374
Facsimile Signatures and Seals 2306.375
Personal Liability of Board Member or Director 2306.391
Form 2306.392
Denomination 2306.393
Manner, Price, and Terms 2306.394
Place of Payment 2306.395
Interest on Bonds 2306.396
Maturity of Bonds 2306.397
Redemption Before Maturity 2306.411
Security for Payment of Principal, Interest, and Redemption Premium 2306.412
Validity of Liens and Pledges 2306.431
Approval of Bonds 2306.432
Registration 2306.433
Execution 2306.451
State Pledge Regarding Bondholder Rights and Remedies 2306.452
Payment Enforceable by Mandamus 2306.471
General Obligation Bonds 2306.472
Department’s Bonds Other than General Obligation Bonds Not Obligations of the State 2306.473
State Not Obligated to Pay 2306.491
Bonds Negotiable Instruments 2306.492
Bonds Incontestable 2306.493
Signature of Former Officer 2306.494
Bonds Not Taxable 2306.495
Authorized Investments 2306.496
Security for Deposit of Funds 2306.497
Mutilated, Lost, Stolen, or Destroyed Bonds 2306.498
No Gain Allowed 2306.0501
Release of Bond 2306.0502
Collection of Penalty 2306.0503
Administrative Procedure 2306.0504
Debarment from Program Participation 2306.511
Definition 2306.512
Special Needs 2306.513
Housing for Individuals with Special Needs 2306.514
Construction Requirements for Single Family Affordable Housing 2306.0521
Organizational Flexibility of Department 2306.541
Natural Disaster Housing Reconstruction Advisory Committee 2306.542
Housing Reconstruction Demonstration Pilot Program 2306.551
Definition 2306.552
Creation 2306.553
Purposes 2306.554
Board of Directors and Officers 2306.555
Powers 2306.556
Exempt from Taxation and Registration 2306.557
Distribution of Earnings 2306.558
Alteration and Termination 2306.559
Reporting Requirements 2306.560
Audit 2306.561
Liability 2306.563
Public Benefit Requirement 2306.565
Issuance of Qualified Residential Rental Project Bonds 2306.566
Coordination Regarding State Low Income Housing Plan 2306.567
Compliance Information 2306.568
Record of Complaints 2306.569
Effective Use of Technology 2306.581
Definition 2306.582
Colonia Self-help Centers: Establishment 2306.583
Self-help Centers: Designation 2306.584
Colonia Resident Advisory Committee 2306.585
Duties of Colonia Resident Advisory Committee 2306.586
Self-help Center: Purpose and Services 2306.587
Operation of Self-help Center 2306.588
Department Liaison to Self-help Centers 2306.589
Colonia Set-aside Fund 2306.590
Colonia Initiatives Advisory Committee 2306.591
Manufactured Homes Installed in Colonias 2306.0705
General Appropriations Act 2306.0721
Low Income Housing Plan 2306.0722
Preparation of Plan and Report 2306.0723
Report Considered as Rule 2306.0724
Fair Housing Sponsor Report 2306.751
Definition 2306.752
Owner-builder Loan Program 2306.753
Owner-builder Eligibility 2306.754
Amount of Loan 2306.755
Nonprofit Owner-builder Housing Programs 2306.756
Owner-builder Education Classes 2306.757
Loan Priority for Waiver of Local Government Fees 2306.758
Funding 2306.781
Definition 2306.782
Establishment of Program 2306.783
Colonia Model Subdivision Revolving Loan Fund 2306.784
Subdivision Compliance 2306.785
Program Loans 2306.786
Administration of Program 2306.801
Definition 2306.802
Multifamily Housing Preservation Classes 2306.803
At-risk Multifamily Housing: Identification, Prioritization, and Preservation 2306.804
Use of Housing Preservation Resources 2306.805
Housing Preservation Incentives Program 2306.851
Application 2306.852
Property Owner Restriction 2306.853
Notice of Intent 2306.901
Definition 2306.902
Advisory Role 2306.903
Membership 2306.904
Operation of Council 2306.905
Duties of Council 2306.906
Duties of State Agency Council Members 2306.907
Public Hearings 2306.908
Report 2306.909
Gifts and Grants 2306.910
Meeting by Teleconference 2306.921
Definitions 2306.922
License Required 2306.923
License Application 2306.924
Inspection 2306.925
Failure to Meet Standards 2306.926
License Issuance 2306.927
License Posting 2306.928
Inspection of Facilities 2306.929
Fee 2306.930
Suspension or Revocation of License 2306.931
Enforcement 2306.932
Injunctive Relief 2306.933
Civil Penalty 2306.0985
Recovery of Funds from Certain Subdivisions 2306.1071
Definitions 2306.1072
Texas First-time Homebuyer Program 2306.1073
Administration of Program 2306.1074
Eligibility 2306.1075
Fees 2306.1076
Funding 2306.1091
Definitions 2306.1092
Composition 2306.1093
Terms 2306.1094
Operation of Council 2306.1095
Compensation and Reimbursement 2306.1096
Duties 2306.1097
Gifts and Grants 2306.1098
Duties of Employees Providing Advisory Support to Council 2306.1101
Definition 2306.1111
Uniform Application and Funding Cycles 2306.1113
Ex Parte Communications 2306.1114
Notice of Receipt of Application or Proposed Application 2306.1115
Regional Allocation Formula 2306.1121
Definition 2306.1122
Approval Required 2306.1123
Plan Requirements 2306.1124
Approval of Certain Property Prohibited 2306.1231
Federal Poverty Line 2306.1711
Rulemaking Procedures for Certain Programs 2306.2561
Affordable Housing Preservation Program: Loans and Grants 2306.2585
Homeless Housing and Services Program 2306.2631
Reports by Sponsors of Certain Multifamily Housing Developments 2306.5521
Sunset Provision 2306.5541
Terms of Members 2306.5542
Removal of Members 2306.5543
Training 2306.5545
Conflict of Interest Policies 2306.5546
Standards of Conduct 2306.5547
Division of Responsibility 2306.5548
Equal Employment Opportunity Policy 2306.5549
Meetings of the Corporation’s Board 2306.5551
Board Delegation of Authority to Issue Bonds or Other Obligations 2306.5552
Technical and Financial Assistance Provided to Nonprofit Organizations 2306.5553
Historically Underutilized Businesses 2306.5555
Public Access 2306.5621
Homes for Texas Heroes Home Loan Program 2306.5671
Compliance with Terms of Certain Contracts or Agreements 2306.6001
Definitions 2306.6002
Regulation and Enforcement 2306.6003
Manufactured Housing Board 2306.6004
Manufactured Housing Board Membership 2306.6005
Conflict of Interest 2306.6006
Terms 2306.6007
Presiding Officer 2306.6008
Grounds for Removal 2306.6009
Reimbursement 2306.6010
Meetings 2306.6011
Training 2306.6012
Appropriations 2306.6013
Budget 2306.6014
Division Director 2306.6015
Personnel 2306.6016
Separation of Responsibilities 2306.6017
Standards of Conduct 2306.6018
Equal Employment Opportunity 2306.6020
Rules 2306.6021
Public Participation 2306.6022
Complaints 2306.6023
Negotiated Rulemaking and Alternative Dispute Resolution 2306.6701
Purpose 2306.6702
Definitions 2306.6703
Ineligibility for Consideration 2306.6704
Preapplication Process 2306.6705
General Application Requirements 2306.6706
Additional Application Requirement: Nonprofit Set-aside Allocation 2306.6707
Additional Application Requirement: Disclosure of Interested Persons 2306.6708
Application Changes or Supplements 2306.6709
Application Log 2306.6710
Evaluation and Underwriting of Applications 2306.6711
Allocation of Housing Tax Credits 2306.6712
Amendment of Application Subsequent to Allocation by Board 2306.6713
Housing Tax Credit and Ownership Transfers 2306.6714
At-risk Development Set-aside 2306.6715
Appeal 2306.6716
Fees 2306.6717
Public Information and Hearings 2306.6718
Elected Officials 2306.6719
Monitoring of Compliance 2306.6720
Enforceability of Applicant Representations 2306.6722
Development Accessibility 2306.6723
Coordination with Rural Development Agency 2306.6724
Deadlines for Allocation of Low Income Housing Tax Credits 2306.6725
Scoring of Applications 2306.6726
Sale of Certain Low Income Housing Tax Credit Developments 2306.6727
Department Purchase of Low Income Housing Tax Credit Property 2306.6728
Department Policy and Procedures Regarding Recipients of Certain Federal Housing Assistance 2306.6729
Qualified Nonprofit Organization 2306.6730
Accessibility Required 2306.6731
Allocation Decision 2306.6733
Representation by Former Board Member or Other Person 2306.6734
Minority-owned Businesses 2306.6735
Required Lease Agreement Provisions 2306.6738
Prohibited Practices 2306.6739
Housing Tax Credits Financed Using Federal Emergency Funds 2306.6740
Designation of Certain Areas as Rural 2306.67021
Applicability of Subchapter 2306.67022
Qualified Allocation Plan 2306.67041
On-line Application System 2306.67055
Market Analysis 2306.67071
Additional Application Requirement: Notice, Hearing, and Resolution by Certain Governing Bodies 2306.67171
Electronic Mail Notification Service
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 2306.754’s source at texas​.gov