COMMUNITY AND HUMAN DEVELOPMENT

 

Housing finance corp

 

 

About the El Paso HFC
The El Paso Housing Finance Corporation (HFC) is an independent entity, created pursuant to the Housing Finance Corporation Act by the City Council as a non profit corporation and has been in existence since 1979. The statutory purpose of this type of corporation is to assist persons of low and moderate income to acquire and own decent, safe, sanitary, and affordable housing and to preserve and increase the tax base of local government.

The El Paso Housing Finance Corp. serves as the lead agency in the Don’t Borrow Trouble El Paso Anti-Predatory Lending Campaign. Don’t Borrow Trouble El Paso is a partnership of local organizations working to educate and empower El Pasoans on the consequences of high cost loans. Visit the Don’t Borrow Trouble website to find out more information on the kinds of services that local organizations offer with regard to homebuyer education, credit counseling, foreclosure counseling, legal assistance, and much more!

Frequently Asked Questions
Buying a home can be affordable thanks to a partnership between the El Paso Housing Finance Corporation and local home mortgage lenders. Eligible home buyers in the El Paso program area have a chance to own a home of their own with down payment and/or closing cost assistance. Borrowers who meet specified income and purchase price limits may be able to receive assistance.  See below for more details.

HFC Participating Lenders
The way to buy a home using down payment and closing cost assistance from the El Paso HFC is to see one of the following participating lenders listed on this website. You do not have to come to City Hall to apply. Go directly to one of these lenders and ask about the Home Buyer Assistance Program which is also known as the Mortgage Revenue Bond Program.

REALTORS® Info Page
The mortgage revenue bond program can benefit REALTORS® by widening their market segment to include individuals who, with down payment and closing cost assistance, can now afford to own a home where previously this was not possible.

Links
Some good links to sites and resources to help you plan for home ownership and to better understand the role of housing in the community.

 
City Departments On The Web