1. 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

2. 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.

3. 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

4. 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

5. 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

6. 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.

7. 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

8. 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

9. 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!