The Texas Association of Realtors (TAR) has announced an initiative designed to help more homeowners take advantage of housing assistance programs and make homeownership more affordable for Texans. In particular, the initiative aims to expand homeownership opportunities for ‘workforce home buyers,’ which refers to residents who earn up to 150% of their city's median income.
Texas currently ranks 44 out of 50 states in overall homeownership – due, in part, to a need for more affordable housing. That homeownership gap is widest among Hispanics, who account for 36% of the state's population but only 5% of homeowners.
To address this issue, TAR has launched TxHomePrograms.org, an online searchable database of housing assistance programs in Texas. In addition, Texas Realtors are partnering with local lenders, housing counselors and others throughout the state to host educational events for consumers. At these events, attendees will learn about workforce housing issues, consumer needs for workforce housing and Texas-specific programs available to make homeownership more affordable.
‘We all hear a lot about 'housing assistance,' but few know whether they qualify for these programs or how they work,’ says Bill Jones, chairman of TAR. ‘Through this initiative, we're informing consumers and Texas Realtors about programs that can help more Texans start on their own path to responsible, sustainable homeownership.’
SOURCE: Texas Association of Realtors