Travis County Corporations

Travis County offers non-profit Corporations with the power to issue taxable and tax-exempt bonds to assist in the financing of various projects and to participate in other activities promoting economic development to benefit the citizens of Travis County. These activities include housing, health care, and more. Click on the links below for further information on the capabilities of each Corporation.

Bond Issues

The Travis County Corporations can issue taxable and tax-exempt private activity bonds for a wide variety of business types, including affordable housing, health facilities and industrial development. The Corporations have issued 501c3 bonds and Qualified Zone Academy Bonds (QZABs). We also have the capability to issue Essential Function and other bonds. The links below provide a listing of the current fee structure for bond issues by Corporation as well as a general listing of project types that would potentially qualify for bond financing. This list is not meant to be exhaustive, and each potential involvement in financing of a project must be finally approved by the issuing Corporations' Board of Directors. The information provided herein is not a commitment to issue bonds or loan funds to any person. Please contact Staff with any questions.

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The Travis County Housing Finance Corporation is pleased to offer the Hill Country Home Down Payment Assistance (DPA) Program! The program is designed to help homebuyers obtain FHA, VA or USDA-RD loan financing to purchase a home anywhere in Travis County, including the City of Austin. A lack of funds for the down payment is often a significant obstacle to homeownership. In an effort to remove this barrier, low to moderate income homebuyers that qualify for the Hill Country Home DPA program will receive a 30-year fixed rate loan, with a non-repayable grant of a total of 4% or 5% of the loan amount to use for down payment or closing cost assistance. Each qualified homebuyer family will receive a gross 4%, 5% or 6% non-repayable grant for down payment assistance and closing costs based on the initial principal balance of the mortgage loan. In each case , a portion is charged by the participating lender, so net down payment assistance ranges from 2.5% to 4.5% depending on qualification. For more information on this, please contact a participating lender.

Click here for brochure summarizing program criteria

Financing is available for new or existing homes, and can include single-family homes, condominiums, or townhomes. Manufactured homes are not permitted to participate in the program. Unlike many other DPA programs, the Hill Country Home DPA Program is not restricted to first-time homebuyers, though buyers must occupy the home as their principal residence. The Program offers an interest rate on the First Mortgage Loan that is slightly above market rate, so it is the borrower’s decision and choice to receive the First Mortgage Loan under the Hill Country Home DPA Program with the net 3.5% DPA grant, or 2.5% DPA grant depending on qualifying factors, rather than to receive another 30-year fixed rate mortgage loan without DPA at a lower rate from its lender or from another lender. The interest rate for the program varies daily based on market conditions – ask your lender for the current rate. For a HUD approved disclosure on the program, please click here.

Please click on the arrows below for more information on eligibility criteria.

Homebuyer Eligibility

  • Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.
  • Standard loan guidelines exist for qualification (i.e., adequate income, acceptable credit, and down payment requirement).
  • All first-time homebuyers must attend a HUD approved homebuyer education course and obtain a certificate of completion.

Program Eligibility

  • Homebuyers may purchase a home anywhere in Travis County, including in the City of Austin.
  • Buyers must occupy the home as their principal residence, and there is no requirement on how long they must live in the home.
  • The program may only be used to purchase a home (i.e., no refinancing).

Income Limits for Eligible Borrowers

  • Maximum credit qualifying income may not exceed 140% of area median income, which for 2017 is $113,960.

Purchase Price Limit

  • Purchase price limit is determined by the lender based on the borrower's credit, income, debt-to-income ratio and other factors.
  • The purchase price limit for the program is $332,470.

Down Payment Assistance

  • Per FHA guidelines, all homebuyers qualifying for down payment assistance with credit score of 660 or higher will receive 4% of the original loan amount to be used for down payment and closing costs, which includes lender compensation of a 1.5% origination fee.
  • Per FHA guidelines, all homebuyers qualifying for down payment assistance with credit score ranging between 640 and 659 will receive 5% of the original loan amount to be used for down payment and closing costs, which includes lender compensation of a 1.5% origination fee.
  • The origination fee can be paid by the borrower or the seller.
  • This assistance is a gift/grant and does not require repayment at any time.

To Participate In The Program

Should you be interested in the Hill Country Home DPA program, please contact one of our many participating lenders in the program. The lenders do all screening and will determine if you meet the criteria and qualify for the program. The list of participating lenders is below.

List of Participating Lenders

  1. Eagle Home Mortgage, LLC (formerly UAMC)
  2. Cornerstone Home Lending
  3. Capstar Lending, LLC
  4. Sente Mortgage, Inc.
  5. Highlands Residential Mortgage, Ltd.
  6. AmeriPro Funding
  7. DHI Mortgage Company, Ltd.
  8. Academy Mortgage Corporation
  9. WR Starkey Mortgage, LLP
  10. Mission Mortgage of Texas
  11. Willow Bend Mortgage
  12. Georgetown Mortgage
  13. Security National Mortgage Company
  14. Service First Mortgage (SFMC)
  15. NTFN, Inc. d/b/a Premiere Nationwide Lending
  16. Pulte Mortgage, LLC
  17. Nations Reliable Lending, LLC
  18. Evolve Bank & Trust
  19. Ark-La-Tex Financial Services LLC dba Benchmark Mortgage
  20. PrimeLending, a Plains Capital Company
  21. Colonial Savings, F.A., dba Colonial National Mortgage
  22. Northstar Bank of Texas
  23. LoanDepot.com LLC, dba imortgage
  24. Everett Financial, Inc. dba Supreme Lending
  25. Castle & Cooke Mortgage, LLC
  26. Affiliated Bank Mortgage
  27. Republic State Mortgage Co.
  28. Gateway Mortgage Group, LLC
  29. Open Mortgage, LLC
  30. American Financial Network, Inc.
  31. First Continental Mortgage, Ltd.
  32. Wells Fargo
  33. Wallick & Volk
  34. Mortgage Financial Services
  35. American Southwest Mortgage Corporation
  36. Gardner Financial Services, Ltd
  37. Fairway Independent Mortgage Company
  38. The Federal Savings Bank
  39. Legacy Mortgage, LLC
  40. Great Plains National Bank
  41. Interlinc Mortgage Services, LLC
  42. Cross Country Mortgage, Inc.
  43. On Q Financial, Inc.
  44. Guild Mortgage Company
  45. SWBC Mortgage Corporation
  46. CLM Mortgage, LLC
  47. Pacific Union Financial, LLC
  48. Waterstone Mortgage Corporation

How Do You Become a Participating Lender in the Program?

Lender Qualifications

In order to become a participating lender in the Hill Country Home DPA program, a lender must be a mortgage banker and become an approved lender with master servicer, US Bank Home Mortgage. In addition, lenders must be an FHA, VA, and USDA-RD approved mortgagee. Please note, manually underwritten loans are not accepted for this program.

If you meet these qualifications and would like to become a participating lender, please execute and return the Lender Agreement and the US Bank Lender Contact Information Sheet found below. Please return the requested items to Jennifer Payne at Raymond James, Two Buckhead Plaza, Suite 702, 3050 Peachtree Road, N.W., Atlanta, GA 30305, or via email at jennifer.payne@raymondjames.com.

Homebuyer Assistance Resources

These are organizations or programs that our department recommends for people who are in need.

Address & Phone Number

700 Lavaca Street, Suite 1560
Austin, Texas 78701
(Map)

Phone: (512) 854-9116
Fax: (512) 854-4210

Staff

Andrea Shields
Managing Director
andrea.shields@traviscountytx.gov

Karen Thigpen
Project and Program Manager
karen.thigpen@traviscountytx.gov

Ana Everett
Compliance & Grants Atdministrator
ana.everett@traviscountytx.gov 

Board of Directors

Sarah Eckhardt
President

Brigid Shea
Vice President

Margaret Gomez
Secretary

Gerald Daugherty
Treasurer

Jeff Travillion
Assistant Secretary

General Counsel

Cliff Blount
Naman, Howell, Smith & Lee, PLLC

8310 Capital of Texas Highway, North, Suite 490
Austin, TX 78731
Phone: (512) 479-0300
Fax: (512) 474-1901
blount@namanhowell.com

Financial Advisor

Timothy Earl Nelson
Hilltop Securities Inc.

300 W. Sixth Street, Suite 1940
Austin, TX 78701
Phone: (512) 481-2022
Fax: (512) 481-2010
tim.nelson@hilltopsecurities.com 

The Travis County Cultural Education Facilities Finance Corporation (TCCEFFC) is a public, non-profit corporation that was formed on August 21, 2001. The TCCEFFC can issue taxable and tax exempt bonds to non- and for profit entities, and has authority to issue bonds statewide. Facilities that can qualify for financing under this Corporation cover a wide spectrum, including but not limited to:

  • Facilities for performing, dramatic, visual and literary arts
  • Facilities related to culture/history of races, ethnic groups, and national heritage groups
  • Facilities related to history, natural history & science
  • Facilities for health & physical fitness, public health and safety, and substance abuse counseling
  • Facilities related to conservation/preservation of the environment and natural resources
  • Facilities for child care, adoption, children's services, family counseling, and elder/disabled care
  • Facilities for scouting programs and retreats
  • Facilities to support agencies devoted to the eradication or amelioration of one or more diseases/afflictions affecting the health of individuals/groups within the community
  • Funding can also be used for housing and incidental facilities.

To Apply for Bonds

Application materials required to apply for the issuance of bonds by TCCEFFC are available below. Please contact Staff with any questions.

Profiles in Success

Wayside Schools

Wayside Schools is a charter school in Southeast Austin that provides quality education to more than 600 students. In December 2012, the Corporation provided more than $21 million in financing for the renovation of existing facilities and the acquisition and fitting of new facilities for the rapidly expanding school. The financing included both taxable and tax-exempt private activity bonds as well as Qualified Zone Academy Bonds (QZABs).

Architectural Rendering

The Travis County Development Authority (TCDA) is a public, non-profit corporation that was formed on December 17, 1999. The TCDA was organized under the State Transportation Code, allowing for generally broader authority than the other Travis County Corporations. The Corporation can issue taxable and tax exempt bonds to non- and for profit entities for nearly any task/role that promotes the common good provided it fosters economic development and/or creates jobs.

Financing from TCDA is ideal for mixed use projects which may not fit “neatly” under the umbrella of one of the other Corporations. The authority of this Corporation is statewide. Facilities/project types that may qualify for financing under this Corporation are broad. The following list is not inclusive but includes possible project types. Staff is actively pursuing financing opportunities that allow the TCDA to contribute to the economic development of Travis County. Please contact staff with any projects that may qualify.

  • Educational facilities
  • Transportation facilities and systems
  • Research and development facilities and equipment
  • Most projects that promote economic development and foster job growth
  • Funding can be used to refinance existing debt

To Apply for Bonds

Application materials required to apply for the issuance of bonds by TCDA are available below. Please contact Staff with any questions.

Open Requests for Proposal or Qualifications

Travis County, Texas and the Travis County Development Authority are pleased to issue a Request for Development Proposal (RFP) for a prime 3 acre site at 5325-5335 Airport Boulevard in the center of Austin, Texas. The RFP includes a two-step process: Step 1 solicits a Statement of Qualifications due February 10, 2016, which will result in a short list of qualified applicants selected to proceed to Step 2, the submission of a Development Proposal. The RFP is administered through the Travis County Purchasing Office and is available for viewing/downloading (free of charge) through BidSync, www.bidsync.com, the County’s third-party electronic procurement system. Information on using Bidsync may be obtained by contacting them at 800.990.9339. For information on how to register on BidSync to access the RFP, click here. All questions and inquiries regarding the RFP should be directed to Kim Rhooms, Marvin Brice or Cyd Grimes with the Travis County Purchasing Office, 512.854.9700. Additional information regarding the project may be obtained here.

For RFP respondents, click here to access a spreadsheet for project financial data.

The Capital Industrial Development Corporation (CIDC) is a public, non-profit corporation that was formed on April 26, 1980. The CIDC can issue taxable and tax exempt bonds to non- and for profit entities for purposes of economic development. The authority for this Corporation is statewide. Facilities that can qualify for financing under this Corporation include but are not limited to:

  • Manufacturing
  • Industrial
  • Office
  • Research & development
  • Military
  • Transportation
  • Sewage & solid waste disposal
  • Recycling
  • Air or water pollution control
  • Distribution
  • Warehouse facilities operating as decentralized storage & distribution
  • Primary job training facilities for use by institutions or higher education
  • Funding can be used to refinance existing debt

To Apply for Bonds

Application materials required to apply for bonds through CIDC are available below. Please contact Staff with any questions.

Profiles in Success

Texas Disposal Systems

CIDC provided $15,500,000 in solid waste disposal revenue bonds for Texas Disposal Systems (TDS). Founded in 1977, TDS has become the largest independently owned solid waste collection and disposal company in Central Texas, focusing on high quality waste disposal. Facilities include not only landfill and recycling, but the TDS Exotic Game Ranch and Pavilion Complex, as well as Garden-Ville. The landfill operates with a permit from the Texas Commission on Environmental Quality – the first permit ever issued in Texas for a totally integrated landfill offering a combination of disposal, recycling and composting. The Game Ranch and Pavilion Complex is home to more than 2,000 animals and provides endangered species conservation, while the Pavilion complex allows qualified non-profits to host fundraising events at the facility free of charge. Garden-Ville specializes in organic products including compost, mulch, fertilizers, soil and potting blends, and more.

Travis County Corporations

700 Lavaca Street, Suite 1560 Austin, Texas 78701
(Map)

Phone: (512) 854-9116
Fax: (512) 854-4210

Staff
Board of Directors
Issuer Counsel