Building Blocks for Better Buyers 26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa Building Blocks for Better Buyers City of Dallas 2018 TALHFA Educational Conference Hyatt Lost Pines Resort Tuesday, September 11, 2018 Avis F. Chaisson, Assistant Director and Liaison to the Dallas Housing Finance Corporation

Homebuyer Assistance Program (HAP) 26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa Homebuyer Assistance Program (HAP) Provided homeownership opportunities for low to moderate income families since 1991. Assisted nearly 7,900 families to become homeowners within the City of Dallas.

26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa Purpose Continue to increase homeownership opportunities, especially for low-income families; Preserve existing owner-occupied and rental housing stock; Increase availability of affordable housing opportunities; Increase purchasing power of homebuyers; and, Support neighborhood and community-based preservation and revitalization efforts

Program Overview – Key Changes 26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa Program Overview – Key Changes May 9, 2018: Adopted Comprehensive Housing Policy Serve households between 60%-120% AMI Homebuyers to be prequalified for assistance by DHAP Homebuyer assistance will be determined based on need Changes to housing expense/total debt to income ratios Homebuyer assistance is due in full upon sale, lease, transfer or disposition of property

Program Overview – Existing and New Construction Homebuyer Assistance 26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa Program Overview – Existing and New Construction Homebuyer Assistance Homebuyers may be eligible to obtain a deferred loan for the purchase of their Primary Residence. Actual assistance amount will be need based. Purchase Property must be within the City of Dallas The funds have a 5, 10 or 15 year affordability restriction. Affordability restriction is based on the amount assistance received. No payment, no interest Due in full upon sale, lease, lease with option to purchase, transfer or other disposition (including contract for deed) of the property within the deed restriction period. These loans are secured by a lien on the property

26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa Program Overview – Existing and New Construction Homebuyer Assistance (continued) Conventional, FHA, Portfolio or VA Loans. Lenders must establish Escrow Accounts FHA 203K loans are not eligible for DHAP funding. Not allowed: High Cost or Sub-Prime Loans, Adjustable Rate Mortgages (ARM), Interest only loans, Discount Points paid by Borrower, and Cash Back at Closing Home sales price cannot exceed $212,000-Existing Homes / $241,000-New Homes. Properties occupied by a tenant other than seller/borrower must be vacated for a period of 60 days prior to execution of the sales contract.

26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa CITY OF DALLAS HOUSING FINANCE CORPORATION Reservation in the amount of $25,250,000 in 2018 Single Family Mortgage Revenue Bond Program TERM: 30-year, fixed rate, level payment loans. TYPE: FHA, VA, Conventional, or USDA-RD. RATE: The Corporation desires the lowest possible mortgage rate. It is presently anticipated that the mortgage rate will be approximately 4.00 to 4.25% for loans with no down payment assistance, and 5.00 to 5.25% for loans with 5 points of down payment assistance, subject to market conditions at the time of pricing. Options to offer down payment assistance

CITY OF DALLAS HOUSING FINANCE CORPORATION 26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa CITY OF DALLAS HOUSING FINANCE CORPORATION PURCHASE PRICE: The initial Purchase Price Limits for the Program are: Maximum Purchase Price Non-Targeted Targeted New or Existing Single Unit $355,764 $434,823 INCOME LIMITS: The Income Limits for Eligible Borrowers are: Maximum Family Income Non-Targeted Targeted Families of One or Two $82,837 $92,640 Families of Three or More $95,262 $108,080

26th Annual TALHFA Educational Conference September 10-12, 2018|Hyatt Lost Pines Resort & Spa QUESTIONS & ANSWERS Thank You for Attending the 26th Annual TALHFA Conference in Lost Pines!