Down Payment Assistance Texas
First Time Home Buyers may not be aware of the programs available to them. That is why we are here to help! Complete the Request form to find out what programs you qualify for. A First Time Home Buyer is defined as someone who hasn’t owned a home is 3 or more years.
There are several options to current residents of Texas buying a primary residence or for people just moving here from out of state. The Down Payment Assistance Texas programs allow you to purchase home with no money down. When you are obtaining a Down Payment Assistance Texas program, the home loan and Down Payment Assistance come together as one.
Psssst…the Down Payment Assistance Texas programs doesn’t require you to be a First Time Home Buyer to qualify for the down payment assistance. You do need to use the Down Payment Assistance towards the purchase of a primary residence. A second home and investment property are ineligible for Down Payment Assistance Texas.
Ready to get your zero down home loan? Fill out the Home Loan Request Form and find out what you qualify for. It’s easy. Some people do not realize how easy it is to purchase a home today with no money down, but it is and funding is available throughout all of Texas. There are several First Time Home Buyer Programs Texas provides and programs for those that are not First Time Home Buyers Texas. Down Payment Assistance Texas programs come in all shapes and sizes. Meaning you have several programs to choose from. And when you have choices, it empowers you, the consumer.
The USDA Home Loan is a 100% financing option. You can opt to have Down Payment Assistance Texas to help with closing costs on this program or have it paid by the seller.
The VA Home Loan is another 100% financing option so there is no down payment requirement, however, you can opt into Down Payment Assistance Texas to help with closing costs or have it paid by the seller.
The FHA Home Loan is 96.5% financing so it requires a 3.5% down payment investment. This is where Down Payment Assistance Texas provides the most benefit on home loan programs that require a down payment such as the FHA Loan. The Down Payment Assistance will range from 3% to 5% of the sales price so it can cover your entire down payment requirement on the FHA Home Loan Program. Most consumers opt to have their closing costs rolled in (although you can choose to pay these out of pocket). A well designed/structured Down Payment Assistance Texas program will usually not require any additional funds at closing. Although, it is a possibility some borrowers may need to bring some funds to closing which can range from $0-$1000 +/-, it is much less than having to pay thousands for your down payment and thousands more for closing costs.
The Conventional Home Loan Program can require anywhere from 3% to 20% or more down. Some people think conventional loans do not have Down Payment Assistance programs available, but that is untrue. You can get a down payment assistance program in Texas with a conventional loan. The assistance will range from 3% to 5% and will help satisfy your down payment investment. On a conventional loan, you can roll in up to 3% of your closing costs.
Funding is available and the process is simple. Complete the Home Loan Request Form and let’s get you into a home (with no money down)!