[dropcap]A[/dropcap] recently passed house bill could go a long way toward helping organizations such as Habitat for Humanity guide Texans toward homeownership.
House Bill (1512), authored by Jason Isaac (R-Dripping Springs), increases the maximum amount of loans organizations such as Habitat can extend from $90,000 to $150,000.
These loans are partially serviced by the Texas Department of Housing and Community Affairs through the Bootstrap Loan Program and partially by other sources, which are often charitable grants.
According to a press release, the rising cost of living, property values and permitting costs are providing challenges for nonprofit organizations to help Texans in need.
“I’m excited to have passed this important piece of legislation,” said Rep. Isaac. “Habitat and nonprofit organizations like it provide an outstanding service to Texans in need, helping them find a pathway out of poverty.”
Amy Ledbetter Parham, executive director of Habitat for Humanity Texas, said homeownership has widely documented benefits for residents. Those include improved health and economic freedom, to more stable family livelihoods.
“This bill will give more hard-working Texans a boost to buy their own homes. It’s good for them and great for the Texas economy, bringing communities all the benefits of solid neighborhoods,” Parham said in the release.
Isaac said his bill would help more low-income Texans forge a path toward homeownership.
“I look forward to continuing to work on more ways to reduce regulations, fees, and taxes to relieve the financial burdens on the hardworking people I serve.”
The bill has been sent to the Texas Senate for consideration bill in the House, where its companion was recently voted out of committee.
