My First Texas Home Program
Buying a home can be a stressful process, and for many people, there is little to no opportunity to practice the process. Buying a home for the first time can be particularly challenging because there is so much to learn, and knowing all the ins and outs of the process can make a big difference when it comes time to settle the deal. One of the biggest challenges that prevent many people from buying a home for the first time is the significant costs that are involved.
The good news though, is that there is help available for people who are willing to put in the effort, or for those who decide to work with a group of knowledgeable professionals, like our team here at TX Home Now to secure financial assistance. If you’re looking at buying a home for the first time in the state of Texas, there are a variety of programs available that can make the dream of owning your own home much less intimidating.
In addition to the availability of competitive, fixed interest, 30-year home loans for certain homebuyers, the Texas Department of Housing and Community Affairs has organized a number of helpful programs including “My First Texas Home” to help prospective buyers get closer to achieving their goal of having a home.
Homebuyers that can qualify for the program can receive financial support, but more importantly, they can combine programs based on their specific situation. With the right guidance and direction, a first-time buy can take advantage of multiple avenues of support that can make their homebuying journey less challenging overall.
To be considered eligible for the My First Texas Home program, several important factors are considered. To check if you can take advantage of this opportunity, it is a good idea to gain a clear understanding of your personal financial situation.
Below are a few key points of eligibility, including:
- You must be a first-time homebuyer or a person who has not owned a home for at least three years before applying.
- Certain limits on income are applied, and it is important to discuss with a professional to have a clear understanding of those limits.
- Specific limits on the cost of your home apply as well. Again, it is best if you have a conversation with a professional to determine whether or not your desired home qualifies.
- Your credit score must meet or except the minimum requirement of 620.
- Other specific requirements apply and should be discussed with a professional.
The best way to determine if you are fully eligible for the My First Texas Home program is to have a conversation with a member of our experienced team so we can make sure that you will be able to take advantage of this program.
Buying a home for the first time can feel intimidating, but with the support of this program, you can feel more confident in the knowledge that you’ve got the support you need to move forward with the purchase.
Features of the Program
As a versatile program that is designed to encourage first-time homebuyers to feel confident about their plans to settle within the state of Texas, My First Texas Home offers several benefits to eligible participants.
Some of the key features of this program include:
- 30-year fixed interest rate mortgage loans for eligible buyers
- Support with down payment costs and closing costs totaling up to 5% of the loan
- Open to applicants from all professions who are qualified
- Available throughout the state of Texas through a network of participating lenders
- Options for government loans, and conventional loan products
- Additional benefits through the Texas Mortgage Credit Certificate Program for a dollar-for-dollar reduction towards federal tax liability
Work with TX Home Now to Maximize your Results!
At TX Home Now, our team of experienced professionals is always ready to help prospective homebuyers in the state of Texas with the challenges of finding loans and securing assistance for down payment costs. Our mission is to make sure that each of our clients can move into a new home as quickly, and as easily as possible, and we’ll always keep your best interests in mind when deciding on which programs match your situation.
To find out more about the My First Texas Home program, or other wonderful programs designed to help reduce the costs and challenges of owning a home, don’t hesitate to contact us today!
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