Lubbock Housing Finance Corporation provides various programs and services that promote economic development and encourage the building of long-term assets for individuals and neighborhoods.  Unless otherwise noted, these programs and services are available to persons living in Lubbock and surrounding counties.

Welcome Home South Plains

Home Loan Program


Featuring Down Payment and Closing Cost GRANTS

   Totaling 4% of your Loan Amount!!!


Eligibility for the loan and GRANT is based on: 

Ø the property you wish to purchase being located in one of the following counties (or the cities therein):  Lubbock, Bailey, Cochran, Crosby, Dickens, Floyd, Garza, Hale, Hockley, Lamb, Lynn, Motley, Terry and Yoakum;

Ø the income being used to qualify (“qualifying” income) you for a home loan being less than or equal to $65,200.  (However, your “actual” income may be higher than $65,200.); 

Ø your monthly debts (including your proposed housing expense) being less than or equal to 45% of your monthly “qualifying” income;

Ø the sales price of the home you buy being less than or equal to $250,200;

Ø your “middle” credit score being 640 or higher; and

Ø your ability to qualify for FHA, VA or USDA RD financing.


The following costs can be paid with GRANT funds:

 ØDown Payment

ØClosing Costs (including fees for appraisal, credit

report, title insurance, etc.)

ØPrepaid Expenses (including homeowners insurance,

real estate tax escrows, interest, etc.)


If your contract is negotiated so that the seller will pay your closing costs, the GRANT may be sufficient to cover the initial cost of purchasing a home!


The GRANT is calculated as follows:

 The GRANT is equal to 4% of the amount you finance. 

For example:

Purchase Price

Down payment (3.5%)


 Mortgage Insurance


Amt Financed (Note Amt)

 Grant Funds (4%)



$  96,500




$   3,927


 To qualify for a grant, you must first qualify for a loan through one of these Participating Lenders: 

City Bank Mortgage




Fairway Independent Mortgage




First United Bank




Happy State Bank

Lubbock                  Plainview/Lockney

     806.798.4800                  806.652.2265


Hometrust Mortgage




Peoples Bank




PrimeWest Mortgage




Prosperity Bank

 Lubbock              Plainview

  806.767.8260       806.741.2918


SouthWest Bank




Texas Tech Federal Credit Union




 Program Sponsor:               South Plains Housing Finance Corporation

Program Supervisor:          Lubbock Housing Finance Corporation    806.745.9559


Mortgage Assistance

Lubbock Housing Finance Corporation helps qualified persons secure financing to become homeowner. LHFC is a licensed Mortgage Banker and its employees are licensed Mortgage Loan Originators, as required by the S.A.F.E. (Secure and Fair Enforcement for) Mortgage Licensing Act of 2008. Company NMLS #266112

Go to "About LHFC" to see our
Texas Mortgage Banker Disclosure

Interested persons should call 806-744-KEYS (806-744-5397) for more information.

Construction Financing

Lubbock Housing Finance Corporation provides financing to qualified builders for the construction of affordable single-family homes in the cities throughout Lubbock County.  Interest rates on these loans range from 0% to 6% with the most favorable rates available for homes built in targeted neighborhoods and sold to low income persons.

Interested builders should call LHFC at 806-745-9559 for more information.


Small Business Lending

Lubbock Housing Finance Corporation provides administrative and loan packaging services for High Plains Community Capital, LLC ("HPCC"), a regional multi-bank community development company.  Its primary purpose is to benefit low-to-moderate income people and/or areas by making non-traditional loans to small business owners. HPCC serves the South Plains, a 15-county region which includes the following counties and cities therein:  Bailey, Cochran, Crosby, Dickens, Floyd, Garza, Hale, Hockley, King, Lamb, Lubbock, Lynn, Motley, Terry, Yoakum.

The following banks with locations throughout the region have invested in High Plains Community Capital:

American Bank of Commerce (Lubbock, Wolfforth)

BBVA Compass Bank (Lubbock, Plainview)

City Bank (Floydada, Levelland, Lockney, Lubbock, Morton, Olton, Springlake, Whiteface)

First Bank & Trust (Lubbock)

Lubbock National Bank (Lubbock)

Prosperity Bank (Brownfield, Floydada, Levelland, Littlefield, Lubbock, Plainview, Slaton)

Security State Bank (Littlefield, Lubbock, Olton)

Wells Fargo Bank (Denver City, Lubbock, Plainview, Post)

Persons interested in a small business loan, or who have been denied a loan due to credit problems, should go to or call HPCC at 806-771-3742 for an appointment.