DHFC hears Stifel presentation on single‑family mortgage bond program and options for a local program

At the Dallas Housing Finance Corporation meeting on June 10, 2025, the board heard a presentation from Mike Erinhardt, managing director at Stifel, Nicholas & Company, on the mechanics, risks and market prospects for a DHFC‑sponsored single‑family mortgage revenue bond program with down‑payment assistance.

Stifel presented a model of a roughly $25 million mortgage revenue bond deal that would pair below‑market mortgages with down‑payment assistance (commonly 3%–3.5% in the model). Under the scenario shown, an issuer contribution of about $1,335,000 would be required up front to capitalize interest, cover lender compensation and create a down‑payment assistance account. The presentation modeled an indicative note rate to borrowers near 6.48% and used market assumptions from June 2025.

Why it matters: A DHFC-run single‑family bond program could offer below‑market mortgage rates and targeted down‑payment assistance to eligible homebuyers in Dallas, increasing home‑purchase opportunities for lower‑ and moderate‑income households. Board members…