Texas Homebuyer Grants
It’s a sad fact that most Texans don’t know Down Payment Assistance programs (DPAs) exist. If you’ve never heard of DPAs before, you’re not alone. Even though there are thousands of programs available to help homebuyers come up with their down payment, many of these programs aren’t heavily advertised; their information stays buried on obscure state government webpages. At TX Home Now, we shine a light on these programs and put them to work for you so you can have the home you want and deserve.
These programs were created to help hard-working Americans just like you buy a home. Don’t be discouraged if your bank balance can’t cover a down payment right now. All you need to do is reach out and grab the money that’s available to you. That’s where TX Home Now comes in.
We connect you to the programs that will help you come up with the down payment for a house. Worried about the fine print? There is none. There are no hidden fees or costs. Plus, you don’t need to worry about how you’ll pay the money back. Most programs only require repayment if you sell the home or refinance before the forgiveness period is over.
There are many grants and low or zero-down home loans for Texans. Here are some you might find very useful when looking for a new home.
First Time Homebuyers
The Texas Department of Housing and Community Affairs (TDHCA) offers a budget-friendly plan to assist with down payments and closing costs. My First Texas Home (MFTH) is designed specifically to help new homebuyers and veterans come up with their down payment and cover closing costs if needed. This assistance can total up to 5% of the mortgage loan.
For Texas veterans and members of the military, the Veteran’s Land Board provides low-interest, fixed-rate loans with little or no down payment. Veterans with a VA service-connected disability rating of 30% or higher qualify for even lower interest rates.
If you wish to purchase a home away from the hustle and bustle of the city, consider taking part in the USDA’s Single Family Housing Guaranteed Loan Program. It provides a 90% loan guarantee to approved lenders who help rural homebuyers purchase safe, affordable housing. Eligible applicants can build a new home, rehabilitate an existing home, or relocate a home in any of the eligible rural areas.
Any Qualified Homebuyer
My Choice Texas Home (MCTH) assists with down payments and closing costs for any Texas homebuyer who meets the income guidelines and other rules. It is available through the TDHCA.
TX Home Now never asks you to jump through unnecessary hoops, and we never drag our feet when it comes to getting your application processed and your eligibility determined. However, you must meet a few guidelines that act as pre-screens for many Texas grant programs.
Give us a call today to start your application if:
- You have verifiable income.
- Your credit score is at least 580.
- You agree to attend an online homebuyer education course, if required.
- You make less than $96,000 a year.
If you have a new job or a weak credit score, call to speak with one of our down payment assistance specialists. We won’t turn you away. Instead, we will let you know what you need to do to raise your score and meet our program’s guidelines. Sometimes it’s just a matter of waiting until a negative item falls off of your credit report, or until you have enough verifiable income history.
Your Trusted Source for Down Payment Assistance
At TX Home Now, our job is to find all the down payment assistance programs in Texas and connect potential homebuyers to as many of those programs as possible. We help you chip away at big down payments to put homeownership within your reach. Once we collect all the necessary information from you, you could receive a decision within 48 hours!
There are plenty of Texas homebuyer grants and down payment assistance programs to put into play, and with TX Home Now’s team of dedicated experts, you can take advantage of them. Call now to speak with a specialist and take your first step toward owning a home in Texas!
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