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 corporation is to assist people of low and moderate income to acquire and own decent, safe, sanitary, and affordable housing and to preserve and increase the tax base of the local government.
To this end, the El Paso HFC is dedicated to promoting local homeownership and housing opportunity. The HFC is governed by a board of directors appointed by the Mayor and City Council and has an executive director who manages its operations. The HFC achieves its purpose primarily by issuing tax-exempt mortgage revenue bonds which make mortgage loans available to qualified borrowers at favorable rates to encourage homeownership in El Paso. The program functions through lenders in the City.
The El Paso HFC also has the ability to issue bonds for the financing of multifamily projects.
In addition to loans at a favorable rate, the HFC’s current program provides incentives for first-time homeowners and for residential revitalization in certain areas of the City. These incentives can take the form of a down payment and closing cost assistance.
Renters
Residents are required to meet income guidelines of $50,000 or less for one occupant and $63,000 or less for two-person occupancy. For leasing information contact the property manager at (915) 373-6210.
- Savoy Loft Apartments 120 N. Stanton - Rents from $900-$975
- Myrtle Apartments I 1108 Myrtle - Rents from $580
- Myrtle Apartments II 1120 Myrtle- Rents from $745-$625
