Helping Texans Realize the Dream of Home Ownership

Mortgage Grant Fund

The Mortgage Grant Fund (MGF) grant program awards funds to organizations that promote financial literacy that enables Texans to secure home ownership. The type of activities (goals) that support the MGF grant program are those that identify and support financial literacy education; counseling that leads to homeownership; and train-the-trainer programs relating to these goals. 

The MGF was established by the 87th Texas Legislature by enactment of Texas Finance Code Chapter 156, Subchapter G. The MGF is also governed by SML’s administrative rules (regulations) contained in 7 Texas Administrative Code Chapter 51, Subchapter E. The MGF is funded primarily by excess revenue transferred from the Recovery Fund (Texas Finance Code Chapter 156, Subchapter F) and penalties collected by SML. Funds distributed from the MGF are only used for the purposes set forth in Texas Finance Code Section 156.554.

Mission Statement

The MGF mission is to support financial education, literacy, and capability that lead to tangible improvements in financial health, enabling consumers to obtain and maintain mortgage loans.