These Programs Can Help Finance First Homes – Texas REALTORS®-2021十大正规彩票app

June 01, 2020

First-time homebuyers say getting a mortgage and saving for a down payment were two of the most difficult steps in the buying process, according to the 2019 Profile of Texas Homebuyers and Sellers.

Several government and financial institutions offer programs to help first-time homebuyers. They often take the form of 30-year fixed interest rate mortgages that include down payment and/or closing cost assistance.

Share the resources below with your clients. Remember to make all resources available to all clients to adhere to fair housing regulations.

The Texas Department of Housing and Community Affairs (TDHCA) offers the My First Texas Home and My Choice Texas Home programs. The My First Texas Home Program is available to eligible first-time homebuyers, veterans, or homebuyers who have not owned a home within the past three years. It also includes an option to lower your federal taxes through the Texas Mortgage Credit Certificate Program. The My Choice Texas Home Program is open to all eligible homeowners and includes down payment and closing cost assistance. The program cannot be combined with the Texas Mortgage Credit Certificate. Visit tdhca.state.tx.us and click on Texas Home Buyer Programs.

The Texas State Affordable Housing Corporation offers the Home Sweet Texas Loan Program and the Homes for Texas Heroes Home Loan Program. Both programs feature down payment assistance as a grant that does not need to be repaid or a forgivable second lien loan. Home Sweet Texas applicants do not have to be first-time homebuyers and can use the Mortgage Credit Certificate. Homes for Texas Heroes loans are available to public school teachers, counselors, librarians, nurses, police officers, firefighters, EMS personnel, corrections officers, active members of the military, and veterans. Visit tsahc.org and click on Programs for Home Buyers.

The Southeast Texas Housing Finance Corporation offers the SETH 5 Star Texas Advantage and SETH GoldStar programs. In addition to mortgages, the programs provide down payment and closing cost assistance. The programs are available to eligible homebuyers who do not live in Travis County or the city limits of El Paso and Grand Prairie.

The U.S. Department of Agriculture offers mortgage loans with low rates and no down payment requirement through Single Family Housing Direct Home Loans. The program is intended for low-income applicants. Visit rd.usda.gov and click on Buy, Build, or Repair a Home.

Legal Disclaimer

Texas REALTORS® provides content through various online platforms, including this blog. By interacting with any of our blog posts, you agree to comply with the following terms and conditions:

a. You will not post any defamatory, discriminatory, libelous, threatening, vulgar, sexually explicit, abusive, profane, rude, or obscene content (including comments);
b. You will not use our blog posts or posted content to do anything unlawful, misleading, malicious, or discriminatory; and
c. You will not post content or take any action on our blog posts that infringes someone else’s rights or otherwise violates the law.
d. You will not post any information intended to sell or advertise a business, product, or service.

Texas REALTORS®, in its sole discretion, reserves the right to remove any content you have uploaded, posted, or submitted onto any of our blog posts if we believe that it violates these terms or conditions.

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While Texas REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, Texas REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here. Any legal or other information found on this page or at other sites to which we link, should be verified before it is relied upon.