SETH 5 Star Texas Advantage Program
for details on all summary items, please see the Administrator’s Guidelines-Guide & Forms Tab
|RESERVATIONS / LOCKS||
|LOAN TIME LINE REQUIREMENTS||DO NOT RESERVE EARLY
|ELIGIBLE LOAN TYPES||
|AVAILABLE DOWN PAYMENT ASSISTANCE||
|INCOME LIMIT CRITERIA||
|HOME ACQUISITION LIMITS||
|HOME BUYER EDUCATION||
|FICO SCORE & CREDIT REQUIREMENT||
|SETH WIRE REQUEST||
Reservation/locks are available on Business days between 9am & 4pm Central Time (10-5 EDT)
- 4.750% Effective 07/08 - OPTION 1 w/5% Assistance, FHA ONLY
- 4.500% Effective 07/10- OPTION 2A w/4% Assistance, All Gov’t loans
- 4.2500% Effective 05/16 - OPTION 2B w/3% Assistance, All Gov’t loans
- All Loans are Assisted Rate Loans
- 30 Year, Fixed Rate, Amortized
- Option 1 – 5.00% Assistance Grant for FHA loans ONLY. Determined by First Mortgage Rate
- Option 2A - 4.00% Assistance Grant for FHA, VA, USDA-RD. Determined by First Mortgage Rate
- Option 2B – 3.00% Assistance Grant for FHA, VA, USDA-RD. Determined by First Mortgage Rate
- Assistance is based of the Final First Mortgage Loan Amount
eHousingPlus is the Program Administrator, and provides some of the following services:
The Following Lenders have been approved to originate loans in this Program:
The following is a list of Approved Lenders by SETH and US Bank:
- Academy Mortgage Corporation
- Amarillo National Bank
- America’s Choice Home Loans
- Amerifirst Financial Inc.
- ARK-LA-TEX Financial Services LLC – Benchmark Mortgage
- Capstar Lending, LLC
- Broker Solutions Inc, DBA New American Funding
- Castle & Cook Mortgage, LLC
- Cendera Funding, Inc
- City Bank Mortgage
- Colonial National Mortgage
- Cornerstone Home Lending, Inc.
- Crossline Capital,Inc.
- DHI Mortgage Company, Ltd
- Envoy Mortgage
- Everett Financial, Inc., dba Supreme Lending
- Evolve Bank & Trust
- Fairway Independent Mortgage
- First California Mortgage
- First Choice Loan Services
- First Community Bank
- First Continental Mortgage, LTD.
- First National Bank of Omaha
- Gateway Mortgage Group LLC
- Georgetown Mortgage, LLC
- Great Plains National Bank
- Guild Mortgage
- Hamilton Group Funding, Inc
- Hancock Mortgage Partners, LLC
- Hometrust Mortgage Co.
- Homeway Mortgage
- HomeBridge Financial Services
- Home Community Mortgage, LLC.
- Houstonian Mortgage Group Inc
- IberiaBank Mortgage Co.
- Interlink Mortgage
- K. Hovnanian American Mortgage LLC
- LoanDepot dba iMortgage
- Loan Simple
- Movement Mortgage
- Nation’s Reliable Lending
- Nationstar Mortgage, LLC.
- Oak Mortgage Group
- On Q Financial, Inc
- Open Mortgage
- Patriot Bank Mortgage, Inc
- Premier Nationwide Lending (NTFN)
- PrimeWest Mortgage
- Pulte Mortgage LLC
- Republic State Mortgage
- RMC Mortgage Corporation
- Security National Mortgage Company
- Sente Mortgage
- SFMC, LP
- SharePlus Federal Bank
- Stearns Lending, Inc.
- Summit Funding Inc.
- Sun West Mortgage
- SWBC Mortgage Corporation
- Texas Bank Financial dba Texas Bank Mortgage
- The Federal Savings Bank
- TXL Mortgage Corp
- Venta Financial Group, Inc. dba Alterra Mortgage
- Victorian Finance LLC
- Wallick and Volk, Inc.
- Westar Mortgage
- Whitney Bank
- Willow Bend Mortgage Company, LLC.
- WR Starkey
Interested in becoming a participating lender? Contact us.
- 6/9-Updated guidelines – servicer fee
- 6/6-new DTI – 50% max for 660 and higher credit scores and 45% max for scores below 660. Please change the training and manual to reflect this.
- 2/24- Jefferson County is eligible
- 2/18- Effective 03/01- US Bank Transfer Fee increases to $250
- 1/10-New Income Limits
- 12/5-USDA reinstated
- 10/1 – USDA-RD – New reservations temporarily suspended due to government shutdown
- 8/14 – Timeline is changed. Reservation to UW Certification has been changed from 15 to 25
- 7/19 – New DPA Option. Option 2B provides 3% Dpa
- 7/1 – Mortgagee Letter 2013-14 & Guidelines
- 5/13 – In anticipation of the upcoming Memorial Day Holiday and month-end closings, we wanted to make you aware of important deadlines for ordering DPA Funds for the SETH 5 Star Texas Advantage Program during this period. DPA Wire Requests will not be processed OR wired for closing on Monday, May 27th due to the Memorial Day Holiday. If you have a closing scheduled for 5/28 or 5/29 it is critical that funds are requested in a timely manner. Urgent requests for funds and same day requests cannot be accommodated. Please plan accordingly.
- 2/28 – Downpayment Assistance has increased from 3% to 4% for Option 2 Grant. See Rates TAB!
- 2/28 – Reminder: There is no longer a $25 DPA Wire Funding Fee!
- 12/31- SETH’s 5 Star Texas Advantage Program is NOT available within the City Limits of El Paso, Texas
- 11/26 – SETH Wire Transfer Request notified
- 10/11 – Lender Training
Users: User Credentials (Login and Password) are being processed. As soon as your Lending Institution is fully approved, all registered users will receive an email with their ID’s and a temporary password. After you log in for the first time, you will be prompted to change your password. If your company has been approved, and you have not received a UserID confirmation email, please email us from the contact page. All Users must have attended Training in order to be granted User Credentials.
eHP Lender Program Training- Required for everyone participating in the program and is offered 24/7. Click here to attend
eHP System Training*- After you complete the online Lender Program Training, information is provided as to what happens next. To register for eHP System training, Click here. Please make sure you sign up for system training; do not wait until the last minute and put your loan closing at risk.
To read more about eHP Program Training, click here.
* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.