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In most cases, first-time home buyers stop whatever buying-related thing they were doing before they even get started. They do this for one reason – they think owning their own home is just financially out of reach. Few people try to do some calculating too, but as soon as they come to the down payment and closing costs and all the necessary follow-up cash along the way, loss of confidence and the thought of quitting set in. 

However, if you live in Texas, you better not lose that confidence! You better not quit! This Long Star State is willing to help. Namely, there are many statewide programs designed to help people buy their first home easily and quickly. Thus, if you plan on moving to Dallas or Houston, or another city, and if you want to know all about these first-time homebuyer programs in Texas, keep on reading.

What Makes You Qualified for the First-time Homebuyer Programs in Texas? 

Before we start talking about all the home buying programs throughout the state of Texas, let us first give you some clarifications. Trust us; things are not as evident as you might think. So, in Texas, to qualify for the first-time homebuyer programs, you must not have owned a home, any kind of a home, in the last three years. This applies to both individuals and families.

If you did own a home – but not in the last three years – you can qualify for these programs too! Moreover, many programs can be waived, too, if you are a veteran or disabled, for example. As you can see, there are many things to take advantage of. However, many things will keep you, buyers, up at night too. So, before you opt for a particular program or decide to quit, know your position and explore your options first.

A real estate agent.
If you are not sure ‘where you stand,’ consider talking to a real estate expert.

Best Texas First-time Homebuyer Programs

So, if you understand your requirements from above, go ahead and take a look at some of the Texas first-time homebuyer programs: 

  • My First Texas Home Program – This program is intended, as the name suggests, for first-time homebuyers only! Programs of this kind can assist you with many financial burdens, such as downpayment, different home loan expenses, closing costs, etc. However, keep in mind that you will also have requirements to fulfill too. For instance, you will need to be ready to work with pre-approved lenders, and you will need to be prepared for a buying limit and purchase maximum. 
  • Texas Mortgage Credit Certificate Program – Unlike the previously mentioned My First Texas Home Program, this one does not have requirements for meeting the minimum credit score. Moreover, with this program, you, as a homebuyer, will be able to claim a tax credit on your ongoing mortgage interest. 

What is more, if you meet all the criteria, you can pair up these two programs too! This will result in significant financial benefits. These will be the benefits that will help you buy a home and save some money in the long run. This money will certainly come in handy in the future when you need to have floors in your new home spruced up or kitchen appliances upgraded, etc. 

A key in the lock.
Be sure to explore all of your options and different first-time homebuyer programs in Texas before you sign any papers.

Different Homebuyer Programs By Location

It is also important to mention that besides the previously mentioned programs, there are many more of them. They vary depending on the region of the state of Texas or the city you plan on buying your first home in. This means that rules and options will not be the same if you choose to buy a home in Dallas, Austin, or Fort Worth, for instance. So, let us mention a few that can really help you with your home purchase, whether it is your first or ‘repeat’ one.

Austin

In the state’s capital, you can apply for a Down Payment Assistance Program which can offer different financial help options and various amounts of money depending on your status.

Beaumont

If you decide to buy your first home here, you can get the financial help that goes up to $15,000 with the Downpayment Assistance Program.

Corpus Christi

This city actually offers two types of programs for first home buyers. One of them is the Downpayment Assistance Program, while the other is the Homebuyer Closing Costs Assistance Program. Both of them will grant you up to $10,000. 

Dallas

When the time for moving to your new home comes, you can easily find Dallas-based specialists to support the move. But before that, you can just as easily find Dallas-based financial programs to assist with home buying. But keep in mind that buying a home in one area of the city may not be the same as buying in another. This is because, in Dallas, there are areas designated as ‘high opportunity’ and as ‘non-high opportunity.’

Fort Worth

First-time homebuyers in Fort Worth can apply to the Homebuyer Assistance Program and receive up to $20,000 as mortgage assistance.

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Houston

If you want to buy a home in the largest city of Texas, you can get many benefits. Besides all the programs mentioned above, in Houston, you will also be able to apply for the Harvey Homebuyer Assistance Program. This program exists only in Houston, and it is made for residents who lived in the city during Hurricane Harvey.

A house you can purchase with the help of first-time homebuyer programs in Texas.
Every region in Texas is different, and so are the programs in them.

What About the Non-First-Time Buyer Programs? 

There are some things you should know when buying a home in Texas. Namely, if you cannot apply for any of the first-time homebuyer programs in Texas, you can consider applying for one of the non-first-time buyer programs. Many of them can assist you when looking to buy a home here. Like always, you have to explore your options and be willing to do a lot of research. So, here are some non-first-time buyer programs to take into account:

  • Home Sweet Home Texas Loan Program  
  • Home for Texas Hero Program 
  • 5 Star Texas Advantage Program 
  • Homeownership Across Texas Program 

All of these programs, and many more, come with different requirements. So, as mentioned above, be sure to research each of them to find the best first-time homebuyer programs in Texas for you and your home purchase.




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