Partners

Texas First Time Home Buyer Programs!

Do you qualify for help buying a home?
Texas down payment assistance and mortgage tax credits can help you purchase a home anywhere in Texas.

Texas State Affordable Housing Corporation

If you are interested in buying a home but need help with your down payment, Texas can help. 
 
At the Texas State Affordable Housing Corporation (TSAHC), we help both first-time home buyers and repeat buyers purchase a home. We are a nonprofit organization that was created by the Texas Legislature to help Texans achieve their dream of homeownership. Let us help you buy your dream home.

What is a Down Payment on a House?
When you buy a house, you usually have to also make a down payment. The down payment requirement is equal to a percentage of the cost of the property and can vary based on the type of loan you receive. For example, if a home costs $100,000 and a down payment of 5% is required, you must pay $5,000 at the time of purchase. 

Down Payment Assistance (DPA): What Is It? 
If you are eligible for our programs, TSAHC will provide you with a mortgage loan and funding to use for your down payment. You can choose to receive the down payment assistance as a grant (which does not have to be repaid) or a deferred forgivable second lien loan (which only has to be repaid if you sell or refinance within three years). If you’re eligible, you can essentially receive free money to help you buy a home. 

How Much Do You Have to Put Down on a House?
The amount of your down payment depends on a few things, including your income, your loan type, the amount of TSAHC assistance that you choose, the cost of the home, and how much you want to borrow. The larger your down payment, the smaller your monthly mortgage payment will be. The smaller your down payment, the larger your monthly mortgage payment. 

Your lender will help you figure out which TSAHC assistance option to choose and how much you need to put down on your house.  

Two Home Buyer Programs: Which is Right for You?
Your lender will also help you determine which TSAHC program you qualify for.  Both programs offer the same down payment assistance options. 

“Homes for Texas Heroes” Program
If you’re in a hero profession, this is the home loan program for you. Hero professions include:

Professional educators, which includes the following full-time positions in a public school district: school teachers, teacher aides, school librarians, school counselors, and school nurses 
Police officers and public security officers 
Firefighters and EMS personnel
Veterans or active military
Correction officers and juvenile corrections officers
Nursing faculty and allied health faculty
“Home Sweet Texas” Home Loan Program
If you don’t qualify under one of the professions listed above, this is the best program for you. 

Are You A First-Time Home Buyer?
If you are buying your first home, you can also apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). To qualify, you must meet certain income requirements and the home must meet certain sales price restrictions.