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Does Texas have first-time home buyer programs?

Author

Matthew Martinez

Updated on February 25, 2026

Does Texas have first-time home buyer programs?

For first-time homebuyers, the Texas Department of Housing and Community Affairs (TDHCA) offers the My First Texas Home program, a 30-year mortgage with a low interest rate and up to 5 percent in interest-free down payment assistance. You can obtain an FHA, VA or USDA loan through this program.

Simply so, how much do first-time home buyers have to put down in Texas?

If you're a first-time buyer in Texas with a 20% down payment, you can get a conventional loan — likely with a low interest rate and no private mortgage insurance (PMI). Putting 20% down will keep your monthly mortgage payments low. It might also give you an edge in competitive housing markets like Austin or Dallas.

Secondly, what is the Texas Homebuyer Program? Through The Texas Homebuyer Program, we offer flexible Down Payment Assistance Programs, the Mortgage Tax Credit Program (MCC) and full-time live support from our experienced network of mortgage and real estate professionals. Whatever the challenges, chances are, we've seen it and can help.

Besides, what are the benefits of being a first-time home buyer in Texas?

My First Texas Home

Pros– Can get up to a 5% loan to help cover your down payment or closing costs – Relatively simple credit requirements
Cons– Limited applicant standards
Eligibility– Only for first-time home buyers or people who haven't owned a home in the last three years – Need at least a credit score of 620

What credit score is needed to buy a house in Texas?

between 620 and 640

What is the minimum down payment for a house in Texas?

3.5%

How much should I save to buy a house in Texas?

The traditional advice for saving to buy a home is to save 20% of the purchase price for the down payment. The truth is that there are great mortgage options that have much lower down payment requirements.

What are the requirements for first-time home buyers in Texas?

Eligibility
  • Borrowers must have a minimum credit score of 620.
  • Borrowers must meet income and loan requirements.
  • Property must be located in Texas and not exceed purchase price limits.
  • Property must be a single-family home or a single-unit condominium.
  • Some manufactured housing allowed.

How can I buy a house with no down payment in Texas?

There are currently two types of government-sponsored loans that allow you to buy a home without a down payment: USDA loans and VA loans. Each loan has a very specific set of criteria you need to meet in order to qualify for a zero-down mortgage.

How much do I need to make to afford a 250k house?

How much income is needed for a 250k mortgage? A $250k mortgage with a 4.5% interest rate for 30 years and a $10k down-payment will require an annual income of $63,868 to qualify for the loan.

What credit score is needed for down payment in Texas?

620

What is the lowest down payment for a house?

FHA loans, backed by the Federal Housing Administration, are available for as little as 3.5 percent down if the borrower has a credit score of at least 580. If the borrower has a lower score (500-579), the minimum down payment is 10 percent.

Is it easy to get a house in Texas?

Buying a house is exciting, but it's by no means easy. Everything from the local economy to your financials to the housing market in Texas will impact what home you buy and how much it costs. Mortgage rates are low: In Texas, mortgage rates average 2.39% for a 15-year mortgage and 2.93% for a 30-year mortgage.

How much is a downpayment on a 300k house?

If you are purchasing a $300,000 home, you'd pay 3.5% of $300,000 or $10,500 as a down payment when you close on your loan. Your loan amount would then be for the remaining cost of the home, which is $289,500. Keep in mind this does not include closing costs and any additional fees included in the process.

How much are closing costs in Texas?

According to data from Bankrate, average closing costs in the state of Texas are $2,186, including origination and third-party fees.

How do you buy a HUD home with $100 down?

Instead of the minimum required 3.5% of the price down payment, FHA allows a $100 minimum required investment. Regretfully, this program is limited to eligible properties. In order to use the HUD $100 down program, the property must be a HUD foreclosure or in other words, a HUD REO.

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Does Texas have first-time home buyer programs?