Texas Down Payment Assistance Program

Texas HOMEbuyer Assistance Program

Receive up to $20,000 in Down-Payment Assistance when you buy a home in the Greater Austin area, but outside Austin city limits!

The Texas HOMEbuyer Assistance Program is a new program funded through the U.S. Department of Housing and Urban Development and offers Texans up to $20,000 in down payment and closing cost assistance! This is a great resource for low- to moderate-income households who want to buy a home and applicants do not have to be first time homebuyers. The program offers a 0% interest forgivable loan of up to $20,000, and does not require repayment if the buyer remains in the home throughout the term of the assistance (5-10 years). This assistance is offered to homebuyers in the counties of Bastrop, Blanco, Burnet, Caldwell, Hays, Travis (outside of Austin city limits only) and Williamson Counties.

Here is a summary of some of the requirements for this program:

Household Requirements:

  • Household must complete an eligible homebuyer education course
  • Homebuyer my occupy the home as his principle place of residence for the entire loan term
  • Household’s mortgage payment must be at least 25% of total household income
  • Household’s mortgage payment and monthly debt must be no more than 45% of total household income

Property Requirements:

  • Property must be a single family home, condo or new manufacture home
  • Property must be environmentally cleared by the TDHCA
  • Property value may not exceed 95% of the applicable FHA Mortgage limit

Lending Requirements:

  • Loan must have a fixed interest rate; no ARMs
  • No subprime loan products
  • The loan-to-value ratio must be at or below 100%

This is not an exclusive list of requirement for this program but will give you a good idea of whether or not you will likely qualify. If you have any questions, please give us a call or contact your lender. If you interested in buying a home and have questions about this program, how to buy or sell your home or other financing questions, PLEASE give us a call at 512-636-9707!

Kyle Pfaffe, REALTOR


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