Denton County homebuyers should soon have more lower-interest mortgage money to draw on after the Commissioners Court approved a $40 million transfer on Tuesday, according to the Cross Timbers Gazette.
The vote lets the county's Housing Finance Corporation transfer this year's allocation of private activity bonds to the state's housing agency, the Texas Department of Housing and Community Affairs (TDHCA). The state agency will use it in its existing homebuyer program, which offers 30-year mortgages at low interest rates along with help on down payments and closing costs.
The county expects the money to help about 132 families buy homes, with close to $1.4 million going to down payment assistance, the Gazette reported.
How it works
Rather than starting its own lending program, the county corporation is letting the state run the loans. TDHCA will handle administration and compliance. Andy Eads, the county judge, who has led the housing finance corporation for nearly 20 years, said the arrangement lets the county help working families "all without taking on additional County debt."
The county corporation is also expected to collect annual fee income that could pay for future housing efforts.
The program is not new to the county. Since January 2025, it has backed 49 mortgages in Denton County totaling about $15 million.
