There are a number of first-time home buyer grants and programs available in Texas

Buying a home for the first time is an incredibly exciting milestone, but it can also be quite daunting. There are so many things to consider, from budgeting and financing to finding the perfect home. And if you’re looking to buy a home in Texas, there are some additional things to keep in mind.

The Lone Star State is a great place to buy your first home. From big cities like Dallas to famous suburbs like Frisco, TX or Prosper, TX to more rural areas, Texas has something for everyone.

Luckily, there are a number of first-time home buyer grants and programs available to help ease the financial burden. With these programs, you may be able to buy your first home with little or no money down.
In Texas, there are a number of down payment assistance programs available through both state and local organizations.

In this blog post, I’ll go over some of the most popular grants and programs available to first-time buyers in Texas.

First Time Home Buyer Grants and Programs in Texas Information for Homebuyers presented by Oleg Sedletsky, Realtor in Dallas TX

Below are the different first time home buyer grants and programs available in Texas that can help you with your down payment. Choose the option that best suits your needs and start enjoying all the benefits of homeownership today!

NOTE! Check the requirements of each individual program to see if you qualify. These programs can provide anywhere from a few hundred dollars to several thousand dollars towards a down payment, depending on the program and the buyer’s financial situation.


The Texas State Affordable Housing Corporation (TSAHC) provides a variety of affordable housing programs aimed at:

  • Helping affordable housing developers build better housing for working families
  • Helping homebuyers achieve the American dream of homeownership
  • Helping homeowners sustain homeownership and improve their financial situation

 

Homes for Texas Heroes Program – The Homes for Texas Heroes Home Loan Program provides home buyer assistance specifically to teachers, police officers, firefighters and EMS personnel, corrections officers, and veterans.

Visit https://www.tsahc.org/homebuyers-renters/homes-for-texas-heroes-program  for details

 

Home Sweet Texas Home Loan Program – The Homes Sweet Texas Home Loan Program is available for Texas home buyers with low and moderate incomes.

Visit https://www.tsahc.org/homebuyers-renters/home-sweet-texas-home-loan-program  for details


The Texas Department of Housing and Community Affairs (TDHCA) is the state agency responsible for affordable housing, community and energy assistance programs, colonia activities, and regulation of the state’s manufactured housing industry.

  My First Texas Home (MFTH)

  • Available to eligible home buyers from all professions
  • For eligible first time home buyers and veterans
  • Down payment assistance and closing cost assistance up to 5% of the mortgage loan
  • Combine with the Department’s Texas Mortgage Credit Certificate Program for maximum benefits!
  • The Texas Mortgage Credit Certificate offers a dollar-for-dollar reduction on a homebuyer’s federal tax liability

To learn more, visit  My First Texas Home page.

 

My Choice Texas Home (MCTH)

  • Available to eligible home buyers from all professions
  • For any qualifying home buyer
  • Down payment assistance and closing cost assistance up to 5% of the mortgage loan

To learn more, visit  My Choice Texas Home page.

 

Texas MCCMortgage Credit Certificate (MCC)

Available to Veterans and First Time Homebuyers with a first mortgage through the program, and as a stand-alone option. This certificate entitles you to a dollar-for-dollar reduction on your federal tax liability. No minimum credit score requirement with the stand-alone option. Supplies are limited, so act fast.

To learn more, visit Texas MCCMortgage Credit Certificate (MCC)  page


The Texas Veterans Land Board  (VLB) provides low-interest loans to Veterans and Military Members in Texas.

VLB Veterans Land Loan Program

The VLB Veterans Land Loan Program is the only one of its kind in the nation—giving Texas Veterans and Military Members the opportunity to borrow money to purchase land at favorable interest rates and terms while only requiring a minimum 5% down payment.

To learn more, visit  VLB Veterans Land Loan Program page.

 

Veterans Housing Assistance Program (Home Loans)

In 1983, the Legislature created the VLB Veterans Housing Assistance Program to assist Texas Veterans and Military Members in purchasing a home.
Through this program, eligible Texas Veterans and Military Members have an opportunity to purchase a home with an unbeatable, low-interest loan with little or no money down.

To learn more, visit  Veterans Housing Assistance Program (Home Loans) page.


The City of McKinney Homebuyer Assistance Program

The City of McKinney Homebuyer Assistance Program

The City of McKinney Homebuyer Assistance Program provides down payment and closing cost assistance to low-to-moderate-income first-time homebuyers.

Assistance is provided up to $10,000 as a 0% interest five-year forgivable loan for down payment and non-recurring closing costs associated with the purchase of the new home.

The loan is repayable only if you refinance, pay off the first mortgage, sell or otherwise convey title to the property within the five year period.

You may be eligible if you meet the following qualifications:

  • You are a first-time homebuyer. A first-time homebuyer is an individual or household who has not owned a home in the last three years or is a displaced homemaker.
  • You are able to provide proof of U.S. citizenship or permanent legal resident alien status.
  • You are able to qualify for a mortgage loan with a private lender.
  • The debt-to-income ratio (“back-end ratio”) may not exceed 45%.
  • The housing ratio (“front-end ratio”) must be at least 20%.
  • You will reside in the home as your principal residence.
  • The home is located within the city limits of McKinney, Texas.
  • Your income does not exceed 80% of the Area Median Income.
  • You complete a HUD and City of McKinney-approved homebuyer class.

To learn more, visit  The City of McKinney Homebuyer Assistance Program page.


The City of Frisco currently offers a Down Payment Assistance Program for families employed by the city of Frisco.

The City of Frisco Down Payment Assistance Program

The City of Frisco currently offers a Down Payment Assistance Program designed to help low and moderate income families employed by the city of Frisco or the Frisco Independent School District to purchase a home in the city of Frisco.

 

Families with at least one adult working full-time for the city of Frisco or Frisco ISD for at least 6 months may be assisted in purchasing a home in Frisco. The program provides forgivable loans of up to $10,000 to qualified home buyers for the purpose of down payment and closing cost assistance.

 

Eligible households must be first time home buyers (with some exceptions). Income and purchase price limits vary by family size. The combined household income of all adults may not exceed $131,989 and the maximum sale price is $395,600 in order to be eligible for the program.

 

The Down Payment Assistance Program can be used with other first time home buyer programs to help make home ownership possible for almost everyone.

 

To learn more, visit  The City of Frisco Down Payment Assistance Program page.


Purchasing your first home is an exciting time, but it’s also important to do your research and be prepared financially. Thankfully, there are numerous grants and programs available to assist first-time buyers with everything from their down payments to real estate agent commissions. If you’re looking to buy your first house in Texas, be sure to take advantage of these helpful resources!


Looking to buy a home in the Dallas-Fort Worth area?

Call/Text 214.940.8149

As your Realtor®, I want to help you find the perfect home, whether it’s a new construction home or an existing one. If you’re a first time homebuyer, or relocating to the Dallas area and need help finding a new home I’ll guide you through the process and help find the best home for your needs.

Contact me today to get started!

Start The Home Buying Process by answering a few questions

Check out my other articles for more helpful information about the home-buying process.

For many, buying a home for the first time can seem like a daunting task.  Rest assured, it doesn’t have to be, and I’ve got you covered! Being a confident home buyer starts by understanding the simple basics and increasing your awareness of what to expect during the home buying process. Once you become an informed first-time homebuyer, you will reduce your stress, increase your confidence, and be one step closer to owning your first home.

Get your home buying jump-start right now by checking out my other articles linked below.

The Process Of Buying A House in Dallas Texas

How Long Does It Take To Buy A House in Dallas?

Professionals You Deal with When Buying a House

6 Reasons Why You Need A Realtor® To Buy A Home In The Dallas Area

Pre-qualified vs Pre-approved

What Documents Do You Need To Apply For A Mortgage?

Do’s and Don’ts After Applying for a Mortgage

What Happens Next After You Sign a Home Purchase Contract?

 

Latest from Dallas Real Estate Blog

Texas Homebuyers Tips, Tricks and Lifehacks

Living in Dallas-Fort Worth

Dallas Housing Market

Real Estate News and Trends

New Construction Homes in Dallas TX


The Buyer’s Agent Duty

READ: Texas Real Estate Commission Information About Brokerage Services

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a
written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any
material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or
seller’s agent.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
Put the interests of the client above all others, including the broker’s own interests;
Inform the client of any material information about the property or transaction received by the broker;
Answer the client’s questions and present any offer to or counteroffer from the client; and
Treat all parties to a real estate transaction honestly and fairly.


Home Buyer Experience Testimonial on Closing day