Texas Administrative Code
Title 10 - COMMUNITY DEVELOPMENT
Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS
Chapter 23 - SINGLE FAMILY HOME PROGRAM
Subchapter C - HOMEOWNER RECONSTRUCTION ASSISTANCE PROGRAM
Section 23.30 - Homeowner Reconstruction Assistance (HRA) General Requirements
Current through Reg. 50, No. 13; March 28, 2025
(a) Program funds may be used for the following under this subchapter:
(b) If a housing unit has an existing mortgage loan and Department funds are provided in the form of a loan, the Department will require a first lien position if the existing mortgage loan has an outstanding balance that is less than the investment of HOME funds and any of the statements described in paragraphs (1) - (3) of this subsection are true:
(c) The Household must be current on any existing mortgage loans or home equity loans. If the Department's assistance is provided in the form of a loan, the property cannot have any existing home equity loan liens.
(d) Total Project costs, exclusive of Match funds, are limited to the amounts described in §23.27, Project Cost Limitations.
(e) For New Construction Activities, the assistance to an eligible Household shall be in the form of a loan in the amount of the Direct Activity Costs excluding Match funds. The loan will be at zero percent interest and include deferral of payment and annual pro rata forgiveness with a term based on the federal affordability requirements as defined in 24 CFR § 92.254.
(f) For Reconstruction Activities, the assistance to an eligible Household will be in the form of a grant agreement with a five year affordability period.
(g) To ensure affordability, the Department will impose resale and recapture provisions established in this Chapter.