About Southeast Texas Housing Finance Corporation (SETH)
Southeast Texas Housing Finance Corporation (SETH) is a non-profit organization that provides affordable housing solutions to low and moderate-income families across Texas. The corporation was established in 1987 with the aim of helping Texans achieve their dream of homeownership.
SETH offers a range of programs designed to assist homebuyers in purchasing their first homes. These programs include down payment assistance, online homebuyer education, and mortgage credit certificates. SETH's down payment assistance program provides eligible homebuyers with up to 6% of the purchase price of their new homes as a grant or deferred loan.
The online homebuyer education program offered by SETH is designed to help potential homeowners understand the process of buying a house, including how to obtain financing, how to find the right property, and how to negotiate with sellers. The course covers topics such as budgeting for homeownership expenses, understanding credit scores and reports, and managing debt.
Mortgage Credit Certificates (MCCs) are another program offered by SETH that can help lower-income families afford homeownership. MCCs provide eligible borrowers with a tax credit equal to a percentage of their annual mortgage interest payments. This tax credit can be used each year for as long as the borrower continues to live in the home.
SETH works closely with lenders across Texas who participate in its programs. Homebuyers can find an approved lender in their area by visiting SETH's website or contacting its customer service team directly.
In addition to its core programs aimed at helping Texans achieve homeownership, SETH also offers other services such as foreclosure prevention counseling and disaster recovery assistance. The corporation has been recognized for its outstanding work in these areas by various organizations including NeighborWorks America and the National Council on Aging.
Overall, Southeast Texas Housing Finance Corporation (SETH) is an excellent resource for low- and moderate-income families looking for affordable housing solutions across Texas. Its range of programs designed specifically for first-time homebuyers makes it easier than ever before for Texans from all walks of life to achieve their dream of owning a home.