AUSTIN (February 9, 2010)--Texas announced a $30 million homebuyer initiative Tuesday that’s aimed at veterans.

Gov. Rick Perry and the Texas Department of Housing and Community Affairs announced the funding Tuesday.

The state, through TDHCA, is releasing $30 million in mortgage credit certificate authority through its Texas Mortgage Credit Program.

The first time homebuyer status requirement is waived for qualifying veterans who received honorable discharges.

The program makes home ownership more affordable by providing a dollar-for-dollar reduction of a borrower's tax liability, not to exceed $2,000 annually.

Some other restrictions also apply.