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Building Communities... Not Just Homes

San Antonio Alternative Housing Corporation • 1215 S. Trinity • San Antonio • Texas • 78207 • 210-224-2349 • 210-224-9686 fax

HOME Funds


How do HOME Funds work?


In combination with a 1st loan secured through one of SAAHC’s partnering lenders, the HOME funds are offered as follows:

  1. ‣A 2nd loan at a 3% fixed interest, payable over 30 years

  2. ‣A 3rd loan at a 0% fixed interest that is deferred AND forgiven if the homeowner lives in the home for 20 years

  3. ‣Combined for up to $35,000 total HOME funds.      



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Example:  Household size is 3 persons whose combined gross Annual Income is $37,400.

Less than 80% AMI?    Yes

Eligible for HOME funds?    Yes

Purchase Price:

Less 1% Down Payment:

Less “HOME Funds”:

1st Mortgange Amount:


1st Mortgage Payment @ 5.75%:

2nd Mortgage Payment (20,000 @ 3%):

$15,000 @ 0%:

Real Estate Taxes:

Homeowner’s Insurance:

Approx. Monthly Payment:

$93,500.00

-935.00

-35,000.00

$57,565.00


335.93

84.32

0.00

210.49

54.57

$685.31

$93,500.00

-935.00

-0.00

$92,565.00


540.18

0.00

N/A

210.49

54.57

$805.24

With HOME Funds through SAAHC

Without

HOME Funds

Difference per month = $119.93 savings x 12 = $1,439.16 savings per year.