How to get First Time Home Buyer Grants in Texas – For everyone, it is not possible to buy a house or a mortgage for themselves and pay the advance money for it. For middle-class families and low-income families, it is too hard to collect enough money that they can give for the down payment for the house. We know that living in a rented house is also not affordable for many people and that’s why they think about buying a house or a mortgage. They do have not enough money that they can afford the expenses of their daily life, even sometimes they did not have money to pay for their basic needs. And they have to face many of the difficulties to pay for the rent of the house.
Many times the landlord gives them notice to leave their house because they did not pay the rent on time. In that condition, they feel helpless and don’t think where they can go, and worried for their family. But know they did not need to worry for their family and the house. They can look for the grants that are available for the people who want to buy a house for the first time. If you are a first-time homebuyer then you can read this article continue and get the information about the grants which are helpful for you to buy a house for the first time.
Buying the home for the first time and come up with the down payment and covering closing costs are the biggest hurdle for the people. They are not able to give the money for the down payment and cover costs. But with the help of Down payment assistance and grants, it is easy for them to pay for the down payment and covering the costs which need for buying the home. There are lots of grants are offered in Texas for the first-time homebuyer grant program.
Highlights of this Post
What is a first-time homebuyer grant?
First, we have to need to know what is the first-time homebuyer grant and how one can be eligible for this grant. Even every grant has its eligibility requirements, but some basic details we know about those grants. The government and non-profit organizations have different grants for help to help them and provide money from those grants so that people can feel some relaxation and fulfill their different needs with that money.
Even grants are available in different forms such as zero-interest loans, outright gifts, forgivable loans, or deferred payment loans. These assistance programs or loans help the people by providing them money for paying the down payment and closing costs for buying a house. Among those loans, a forgivable loan is a loan that the borrower does not need to repay. As long as the borrower continues to own and live in the house such as for five years.
Same as the deferred payment loans usually don’t need to be repaid. The borrower does not need to repay in certain conditions such as until the borrower moves, sells the home, refinances, or pays off the mortgage. In all these conditions, the borrower no need to repay the deferred payment loans and can live in the house or mortgage with peace.
How to qualify for first time home buyer grant
As we all know that each grant has its own rules, requirements, eligibility, and terms and conditions to qualify for the grant. But in most of the cases you have to must:
- You must be a first-time homebuyer, as defined by the program.
- You have to take a home buyer education course.
- You have to satisfy or fulfill the income requirements.
- You have to purchase the home or mortgage in the approved location.
- You have to satisfy the purchase price requirements. In many programs, the worth must be less than 95% of an area’s median home purchase price.
How to apply for first time home buyer grant in texas
In this article you can see that there are lots of grant programs are mentioned below, but you may want to check for the other affordable home loan programs which are offered by the Texas Department of Housing and Community Affairs, or TDHCA. Apart from this, low-interest rates and tax credits, some of those grants also include the grant component. You can look for those grant programs as well if you want and get more information about them.
Best First Time Home Buyer Grant programs in North Texas
In North Texas, there are several grant programs for individuals and families who want to buy a home for the first time. So, if you are a first-time homebuyer and want to buy a home in North Texas then you can look for the grant programs in North Texas for first-time homebuyers. Let us discuss some of the grant programs in North Texas.
The Dallas city’s Housing and Neighborhood Revitalization Department offers an assistance program to help the people who cannot afford the money for paying the down payment and closing costs. They provide the help with money up to $40,000 as assistance, but this money or help is given based on need.
Funds are given in the form of a deferred loan, which you have to need to pay out or repaid if you as a buyer of the house sell the house, refinance it, lease or transfer the property within a certain period. Apart from this, there are more eligibility criteria that one have to need to fulfill to for qualify these assistance programs.
In Arlington city, the assistance program is for the homebuyers is provided by the city. first time home buyer grants arlington tx provide help with this grant program to provide the money up to $20,000 for paying the down payment and closing costs of the house. But they provide this money for the property which is within the city limits.
This loan has no interest of any kind, but if the buyer sells it refinance it, or leases it during the five years of buying the house then they have to pay back the loan amount. If the applicants want to qualify for this grant program then they have to pay at least $1,000 towards the purchase of a house.
Read More : USDA home loan For First time home buyers
This is the assistance program that is offered by the city. They provide the $14,999 as a deferred loan to the first-time homebuyers to purchase the home. From this amount money, up to $3,000 can be used to give as a closing cost. Even these loans can be forgiven over five years. But the loan can be forgiven in one condition that if the borrower does not sell, refinance, lease, or transfer the title, without the lender’s consent. Along with this, the applicant must have to contribute or give at least $1,000 or 2% of the purchase price of the property. They can contribute to the balance whichever is less or they can pay. Therefore, if you can pay for the purchase pay or give your contribution then you can be eligible for this grant.
This is the assistance program for first-time homebuyers. From this program, one can get help with up to $14,900. So that with this money people can pay their down payment and also the closing costs. The fund amount is provided as a zero-interest loan and this amount would be forgiven after the five years of purchase a home.
Even there is no need to repay the loan amount, if the borrower does not sell the house, refinance it, lease or transfer it, gets a home equity loan, or does a cash-out mortgage during that period of five years.
If the applicant wants to qualify for the program then they have to live or work in Denton and they have to contribute 1.75% of the sale price towards the purchase.
The property or the house must be within the Denton city limits. Condos and townhomes are eligible for this. Even the homes which are built before 1970 are not eligible, and unless they have gone under major renovation.
If you keep all these points together then you will be eligible for the grant program.
If you are a first-time homebuyer and want to buy a home in McKinney city of Texas then you are lucky because here you will get assistance from the city to buy the home for the first time. They provide up to $10,000 to the first-time homebuyers to give the down payment and closing costs with this money.
They provide this loan as a 0% interest and forgivable loan after five years. There is no need to repay this loan. But if the borrower sells the house, lease, or transfer the title, or refinance the house, during that period then they have to repay the loan amount. Also, the property or the house that they buy will be in the McKinney city limits, only then this assistance is given to the people.
The Down Payment Assistance Program of Frisco helps the low and moderate-income employees of Frisco city. They also help the Frisco Independent School District buy a first-time home. From this program, one can get up to $10,000 for paying their down payment and closing costs. This loan they provide is forgivable. This loan is forgiven in installments after a certain period. But it depends on the assistance amount that means how much assistance you get for buying your home.
For the eligibility criteria, in the family, there is one adult who works full-time for the Frisco city or school for at least six months. The home or property will be in the Frisco city limits and also the borrower has to contribute at least 1% of the purchase price, only then they will be eligible for the assistance money for buying the home from this assistance program.
This program is administrated by the City’s Community Services Division. From this program, one can get up to $10,000 as a zero-interest, forgivable loan. And can pay for the down payment and closing costs of the property.
The borrower does not need to repay the loan as long as they are occupied and live in the house for over five years. But the applicant must have to give contribute at least $1,000 for the purchase price of the property. From that amount, it may be possible that is some amount gifted or a contribute from relatives or friends. The main thing is that the Property or the house will be in the Plano city limits otherwise you will not be eligible for the grant amount.
Read More : FHA loan for first time home buyers
If you are a person who wants to buy a home in Mesquite and can contribute at least 1.75% of the sales price towards the purchase of the home then you will be eligible for assistance from this program. The programs offer funds up to $5,000 if you matched the eligibility criteria. This money is for half of the down payment.
This assistance is given to the people who are the first-time homebuyer as a zero-interest, forgivable loan. Also, the property must be within the Mesquite city limits.
If the program’s match is less than $5,000, then there are additional funds can be given to help to pay the down payment and closing cost of the house, and it depends on the buyer’s income.
The development corporation of Tarrant County offers zero-interest loans to the people who are first-time homebuyers. They provide a loan of $10,000 for paying the down payment and closing costs. The main thing about this loan is that the borrower does not need to repay this loan after five years if the borrower continues to live in the house and occupy it.
But an applicant can buy the property from the agency’s inventory because only those properties are eligible to buy. The applicant must have to pay for the purchase of a house up to $1,000 and also have adequate reserves. If an applicant fulfills all these needs of eligibility then they can get help from this grant program.
The city has an assistance program for first-time homebuyers and they also provide it with up to $7,500 payment. With that money, they have the intention that people can for the down payment and closing costs of the property. If the buyer wants to buy the house in Wichita Falls. But the condition is that the property would not be a 100-year-old flood plain. This loan is given as a zero-interest loan which is not required to pay back. As long as the borrower lives in the house, does not transfer the title and lease it. Then this amount can be forgiven in the five years. Along with this, the applicant also has adequate cash reserves.
You see that there are several assistance programs for first-time homebuyers in North Texas. But these assistance programs are offered by different cities and they have some eligibility criteria for qualifying this program. So, if you want to get help for purchasing a first-time home in a specific city then you have to look for their eligibility criteria first after that apply for the assistance program for purchasing the home.
First time home buyer grants in West Texas
If you are from Texas or come to Texas and find the home to buy and you are a first-time home buyer then you can look for first-time homebuyer grants in West Texas. There are many home buyer grants are available for people who are buying a home for the first time. Some grant programs for first-time homebuyers in West Texas are mentioned below. Let us know about those grant programs:
This is the grant program that is offered by the Midland Community Development Office. If you want to buy a home in Midland then this program provides you up to $15,000 for buying a home in Midland. But along with this, the applicant must have to give $1,000 from their side to buy the home. This grant program for first-time homebuyers is very important and also helpful when they are going to buy a home in Midland.
If you are a first-time home buyer, then you will get grant money up to $5,000 from the city’s office Neighborhood Services Program. They provide the grant money for the down payment and closing costs. But this grant program has the eligibility requirements, if you fulfill them only when you will qualify for this grant program.
For this, you must have to purchase the property within Abilene city limits, and only those who are living in the city for the last six months or worked in the city for the last two years. Along with this, the applicant must have to complete 10 hours of community services and with this a home buyer training course. If the applicant fulfills all these eligibility requirements then they will get a grant for the down payment and closing costs of the home.
The San Angelo Community and Housing Support Division offers the down payment and closing costs for buying the home. They offer up to $15,000 as assistance for paying the down payment and closing cost. But one thing the applicants have to keep in their mind is that the assistance money cannot exceed then the 15% of the property’s value.
The eligibility requirement for this program is that the applicant must have to contribute at least $500 for the purchase of the property and occupy the home for at least five years so that they did not repay the loan. And the important thing is that the property must be within San Angelo, only when the applicant gets the assistance for buying the home and pay the down payment.
Read More : Government Low Income Housing Assistance and programs (Updated)
There is an Odessa Community Development Department that offers the grant program for the existing homes and newly constructed homes. They provide grant money for the down payment and closing costs assistance for the existing homes up to $10,000 and $24,000 for the newly constructed homes. This is the assistance that is offered a zero-interest, deferred payment loan.
But as every grant has eligibility requirements same as this assistance also has some requirements. Such as the property or a house is in the city of Odessa and along with this, the applicant must not be the current resident of Odessa to apply for this assistance. And the applicant must have to contribute the at least 1% of the sales price of the purchase.
These are the first-time homebuyer grant programs that are available in West Texas for the people. So, if you want to have a home in West Texas then you can look for these grant programs and apply for the one for that you fulfill the eligibility criteria.
First Time Home Buyer Grant programs in East Texas
In East Texas, one can find different grant programs for first-time homebuyers. The grant programs help people to buy a home with an easy loan and sometimes they did not need to pay the loan if they fulfill the requirements of the grant program. Let us look to those grant programs:
The people or individuals who are first-time homebuyers will get up to $14,999 from the Beaumont Community Development Department. They provide this help to pay for the down payment and closing costs of the house. This loan grant is given as a zero-interest, forgivable loan which will be helpful for first-time homebuyers.
But if the borrowers refinance, sell, or moving to another place within the five years of buying the house, then they should have to repay the prorated portion of the loan amount.
There is a condition for using this assistance grant and to be eligible for this assistance grant. And this is that the buyer has to buy the house within the Beaumont city limits and along with this they have to contribute at least $2,000 for purchasing the house from their side.
In the city of Tyler, the assistance program is held to help the people who are first-time homebuyers. They assist with a zero-interest, forgivable loan so that they will pay for the down payment and closing costs of the house.
They provide different assistance to the people, if a person is going to buy the existing house then they will get up to $7,500 and if someone is going to buy a newly constructed home then they will get assistance up to $14,999. This loan is forgiven after the five years of buying the house, if as long as the borrower owns and lives in the house during that time.
Even for HUD Initiative Homes, the assistance is provided up to $25,000. This is the loan that is forgiven after 10 years. But one thing to keep in mind is that all the properties would be purchase in the Tyler city limits.
This grant program is offered by Texarkana city. This is the program that provides first-time homebuyers up to $10,000 so that they can pay for the down payment and closing costs of the house. Even this assistance is given as a forgiven loan to the people. But they have just one condition that the house will be in Texarkana city.
These are three grant programs that are available in East Texas for helping people to buy a home. But the people remember one thing that they can buy a home or a property in the city where the grant is applicable. And if they fulfill the criteria then they did not need to repay the loan amount.
First Time Home Buyers Grant Programs in Central Texas
If you are from any other part of Texas but want to buy a home or property in Central Texas then there are many grant programs for you. You can look for them and go with the one that is suitable for you or where you want to buy the property. If you fulfill the eligibility requirements then you can apply for the grant program as well.
In Central Texas, if you are looking for a house, then you can look for the house in Bryan. You can see that Bryan‘s Community Development Services Department has a program that offers money to the people. They offer no-interest loans up to $7,500, for the down payment and closing costs of the house.
They have some eligibility needs so that the borrower will get help from their grant program. They said that the house must be within the Bryan city’s limit and it not must be built before 1978. The loan is forgiven after five years if the applicant or borrower still owns and lives in the house. Along with this, the applicant must have to give at least $1,000 towards the purchase of the house in Bryan.
first time home buyer programs in austin tx are the best for you, If you are looking for a home or a property in Austin then it is good for you. The Austin Neighborhood Housing and Community Development Department provides an offer of up to $14,999. They offer this money as a no-interest, forgivable loan to help make a down payment. But make sure that the property is within the Austin city limits. The loan is forgiven in many conditions which include, as long as the buyer does not sell the house, refinance, get a home equity loan, and lease the property in the five after they buy the house. Along with this, the applicant must have to contribute at least $500 for the purchase of a house. All these conditions can be fulfilled by the applicant to get a grant for buying a house in Austin.
The First-time homebuyer program in San Marcos provides the offer of up to $7,000 as a zero-interest, forgivable loan. Half of the funds can be used for the down payment and the remaining payment can be used for the closing costs.
The borrowers have one thing to remember that the property must be within San Marcos city limits and they have to pay at least $800 for purchasing the house.
Even the loan that the borrower gets from the program, they did not need to repay it. It will be forgiven each year itself. If the borrower lives in the house for five years continues then they did not any need to pay any amount of loan.
To buy a home in Killeen, the city has offered an assistance program for first-time homebuyers. They provide help up to $7,500 for the down payment and closing costs of the house in Killeen.
The assistance is given to people as a zero-interest, forgiven loan and it does not need the borrower to repay it. As long as they own and live in the house, for five years. Also, the applicant or the borrower has to pay or contribute at least $500 for buying the house in Killeen. If the applicant does this then they are qualified for the assistance with ease.
This is the grant program that is offered by Waco city. Under this program, one can get help up to $25,000. They get this grant loan as a no-interest, forgivable loan. This loan is given to employees of the city so that they can buy the home in Waco with the help of this grant money or loan.
As long as the borrower lives in the home and work for the city, the loan will be forgiven incrementally over 10 years. If the employees want to be eligible then the Employees of Waco city have to work for 12 months at least and then they will be eligible for this grant program and buy the home in Waco city.
This is the assistance program that is sponsored by San Marcos city. This program helps with the assistance of city employees, San Marcos Consolidated Independent School District employees, and Texas State University professors. They help them with up to $5,000 to pay for the down payment and closing costs of the house.
They provide this help to people in the form of a zero-interest loan which is forgiven after five years if the borrower continues to live in the house and occupy the home. The house the borrower thinks about buying must be in San Marcos and the best thing is that there are no income restrictions. So, a person can buy the home and apply for the grant without any worry about income eligibility criteria.
Now, you see that for Central Texas there are numerous grant programs are available for first-time homebuyers. You can choose any of the grant programs according to the city where you want to have your own home. And if you qualify for the grant program then you will get help from them to pay for the down payment and closing cost for purchasing the house.
Grant Programs in the Upper Texas Gulf Coast
As we are reading about the grant programs for the first-time homebuyers in Texas, but there are grant programs for purchasing home in different areas of Texas. So, if you want to buy a home in the Upper Texas Gulf Coast then you can look for the programs which are given below. Let me know about those programs for purchasing a home.
In Galveston city, there is a grant program for first-time homebuyers which is provided by the city. They provide help to pay for the down payment and closing costs of the property and this they help up to $14,500. This is the loan that they provide as a no-interest, forgivable loan. The borrower does not need to repay this loan amount as long as they are own and living in the house after the purchasing of the house for five years. According to them, the property must be in Galveston city limits otherwise this grant is not for you.
The city of Baytown offers a grant program to help people who want to buy a home for the first time. They provide them help up to $4,500, as a forgivable loan. They provide this loan to pay the down payment and closing costs of the home. But they have requirements for providing this loan. Such as the home within Baytown city limits. And the loan amount will be forgiven after five years.
But if the borrower sells the house, moves to another place, or transfers the title to someone another during the period of the first five years of purchasing then they have to repay the prorated portion of the loan. So, if you do not want to pay any loan then don’t sell, move or transfer the title of the house. And stay away from repaying the loan amount.
This program helps only eligible families. The program helps them to pay the down payment and closing cost f the property. For this, they provide help worth up to $7,500. For getting the benefits of this grant, the applicant must be a resident of Texas City for the preceding 12 months. Only when the applicant fulfills this condition they can take advantage of this grant.
If you want to have a house in Houston and need a grant for this then you can get the grant from Houston city. They have the grant for the homebuyers and they help them with $30,000. This is the grant amount for paying the down payment and closing costs which is provided to the borrower as a deferred, forgivable loan. The borrower does not need to repay this loan amount if they occupy and live in the property for five years after purchasing the house.
But the applicant must have to remember something regarding this grant that the property must be within the Houston city limits or be serviced by the city or it will be subject to city property taxes. For buying the house the applicant must have to pay at least $350 from their side.
This is the county program that offers up to $23,800 to pay the down payment of the house which is in unincorporated Harris County. Even they also provide the loan amount as a forgiven loan but they also have conditions to forgive the loan. Such as the amount of up to $14,999 can be forgiven after five years if the buyer continues to live and occupy the home. And the amount of 15,000 or more can be forgiven after ten years.
Along with this, the house that the buyer is going to buy be built after 1978, not before this. And the buyer has to contribute up to $350 or half of the down payment for buying the house or property. If the applicant fulfills all these needs to qualify for the program then they did not worry about repaying the loan amount.
The Brazoria County’s Housing and Urban Development department offers help to first-time homebuyers. They offer $1,000 to $5,000 to the applicants with this loan amount. So that with this money they can pay the down payment and closing costs to buy the unincorporated Brazoria County and participating cities.
This money is provided as a deferred payment loan which will be forgiven after the five years of purchasing property or house. But this is happening only in the condition when borrowers continue to live in the house and they don’t withdraw equity through a cash-out refinance.
Now, you see that every grant program has one common qualification need that the applicant has to live in the house for five years after purchasing the house after that the loan can be forgiven. So, if you don’t want to repay the loan amount then you have to fulfill the criteria.
Grant Programs in South Texas
There are lots of grant programs in South Texas for first-time homebuyers. You can also use any of the grant programs to buy a home in the South Texas cities. The grant programs are mentioned below:
The Homebuyer Assistance program in Corpus Christi is offered to the people who need to buy a home but they don’t have enough money. So with this assistance program, they provide up to $10,000. They provide this money as a deferred loan which can be forgiven after five years of living in the house. And this happens only when the borrower lives in the house continuously and does not sell the house. Also, the house must be in the Corpus Christi city limits. Along with this, the applicant must buy a newly constructed home from one of the participating builders of the city.
This assistance program is offered by the city’s Community Development Department. This program offers $14,999 to the homebuyers as a zero-interest forgivable loan. The loan can be forgivable in one condition if the borrower occupies the home and lives for five years after purchasing the home. To be eligible for this program, the applicant must be a resident of Laredo city for at least six months before they apply for this grant program.
The home closing cost programs offer help to the people who are first-time homebuyers. They help them up to $10,000 and provide this money as a zero-interest deferred payment loan. This loan can be forgiven after five years if the borrower lives in the house and doesn’t sell the house. But if the borrower sells the home before the five years or during this period then they have to pay the prorated portion of the loan.
For the San Antonio employees who are full-time workers, and want a home for them this program helps to buy a home by providing them zero-interest, forgivable loan. They provide the loan worth $10,000 so that they can pay for the down payment and closing costs of the home.
But the applicant needs to give attention to one thing that the property must be in one of two areas targeted for revitalization or reinvestment.
The loan must be forgiven after the five years of purchasing the house if the borrower remains employed by the city. For purchasing the home the buyer also has to contribute at least $500. If the applicant is qualified for the grant program then they will get help for buying the home.
This is the home assistance program in San Antonio city for the people to help purchase the house. They provide the loan up to $12,000 as a zero-interest loan. They help people with this loan money so that they can pay their down payment and closing costs as well.
Even these loans are forgivable also, but they have conditions to forgiven them. 75% of the loan is forgiven if the borrower does not sell the house or move to any other place during that time. The remainder will be due when the home is sold or the mortgage or home is refinanced.
For the police officers, firefighters, teachers, and emergency medical technicians, the loan will be completely forgiven after the 10 years of buying the home.
For qualifying for this grant, the applicant has to take care of one thing that they buy the home within the San Antonio city limits, and also they have to pay for the down payment of the house at least $500. If the applicant fulfills all the requirements then they will get the loan with ease and in a short time.
This is also the assistance program that helps the police and fire employees buying a home in the different parts of San Antonio city. For buying a home they provide help up to $15,000 for the down payment and closing costs of the house.
The borrower must have to pay up to $500 for the purchase. The loan can be forgiven after five years of buying a house. As long as, the borrower remains employed by the city during that time.
If you want to have a house in Victoria City then you are lucky because there is an assistance program from the city that provides help to the people who want to buy a house. They provide help up to $2,500 for the closing costs and with this 50% of the down payment to buy a house in the city. Only existing homes are eligible to buy a home and applicants must demonstrate that they cannot buy the home without the program’s assistance. So, they can get help from the city’s assistance program to buy a home.
Now, you see that in South Texas, there are numerous grant programs for first-time homebuyers. One can choose any of the grant programs according to their choice which means in which city they want to have the home and apply for the grant. First, they have to check for the eligibility criteria of the grant if they are eligible for the grant then they can apply and get the grant with ease for buying the home.
Your next step
As we see that there are different grant programs in the different cities of Texas. So, if you want to have a home in any city in Texas then you can apply for the grant program, but make sure that you are eligible for the grant. After that, you can visit the website of the organization that administers the program. On the website, you will find many details such as terms and conditions of the program, eligibility requirements, along with this, you can find the contact information.
If you are applying for the grant program then you have to make sure that the lender has a name in the list of mortgage lenders. Because only some specific lenders are eligible from whom you can purchase the house or property. So, you don’t face any issues after applying to purchase the house.
