Financing
Down Payment Assistance in Texas
Down payment assistance (DPA) can help eligible buyers with the cash needed for a down payment and closing costs. In Texas, the main statewide programs come from two state housing agencies, and many lenders offer them across Hays County.
Rates, payments and program details live on Dustin's lending site, where he can give you exact numbers for your situation.
DPA details at Mortgage Loans Co.Statewide programs
- Texas State Affordable Housing Corporation (TSAHC): Homes for Texas Heroes, for eligible teachers, first responders, veterans and other professions, and Home Sweet Texas, for eligible low- and moderate-income buyers
- Texas Department of Housing and Community Affairs (TDHCA): the Texas Homebuyer Program, with options for first-time and repeat buyers
- Mortgage credit certificates, which some programs offer to reduce federal income tax for eligible first-time buyers
What eligibility usually depends on
- Household income limits, which vary by county and household size
- Credit score requirements set by the program and lender
- The home's price and use as your primary residence
- A homebuyer education course, often required
- Program funding, which can change
How we help
We'll tell you which programs you may fit, connect you with a lender who offers them, and make sure your offer and closing timeline account for the program's requirements.
This page is general information, not a loan offer or commitment to lend. Loan programs, eligibility and costs vary and change; all loans are subject to credit approval. Talk with a licensed loan officer about your situation. Dustin Allan, NMLS #2044646, Mortgage Loans Co.
Frequently asked questions
›Is down payment assistance free money?
It depends on the program. Some assistance is a grant, and some is a forgivable or repayable second loan. A lender explains the terms of each option before you choose.
›Do I have to be a first-time buyer?
Not always. Some Texas programs are open to repeat buyers who meet income and other requirements.
›Can teachers get help buying a home in Texas?
TSAHC's Homes for Texas Heroes program is designed for eligible teachers, first responders, veterans and other professions. Income and other requirements apply.