If you have recently moved to Texas or want to make a living here, then eventually, you want to buy a new house. You should know about what first time home buyer grants Texas are. These affordable housing options are available to you thanks to the Texas State Affordable Housing Corporation (TSAHC). So, without further ado, let's begin. This way, you can learn how you can also benefit from the first time buyer program Texas.

What Exactly is a first time home buyer grants Texas Program?

This is a support program set up by TSAHC for individuals who want to buy their first home in Texas. Furthermore, they are looking to gain benefits from their Mortgage Credit Certificate support program.

Typically, those who haven't bought a home are first on the list. But if you haven't owned a house in the last three years, you are also eligible for this program. Furthermore, your spouse also falls under this category. So if you are living in a home in your name, but she doesn't own anything as of now.

So, first time home buyer grants Texas is an excellent option for many. Especially more for those who have a good job in Texas but aren’t from there.

Best Features of first time home buyer grants Texas

• The great state of Texas is sponsoring this program for first-time buyers to help them get settled.
• The grants are available to all the counties of Texas.
• The programs are allowed only for veterans and first-time buyers, with certain conditions, as we mentioned above.
• You can quickly get the 2nd Lien debt option with a 0% interest rate and for a 30-year duration. You can also apply for 2^nd lien, which may provide a three-year forgivable option.
• You can choose between different flexible downpayment options along with easy assistance with closing costs.

How to Apply for first home buyer program Texas?

The first thing you need to do is take their eligibility quiz, where you need to clear the following information.

• Job Title – If your occupation falls under the names listed, like public classroom teacher, county jailer, firefighter, etc., then you can be on the fast track. This doesn't mean those jobs not listed there cannot apply.
• First Time – The next step is to inform the quiz whether this is your first time buying a home or not.
• Household – In this step, you must select the county you are living in and the number of household members.
• Income Limit – You need to select whether you are earning above $112,625 a year gross income or at or below $112,625 a year.
• Results – Once you press submit, you will get the results which show which option is available to you from many different grants.

After you go through these steps and are at the results page, you need to proceed to different lenders. These lenders have been participating in this program. Based on your county or region, you will see a different list of lenders.

These lenders are assigned and approved by the TSAHC department. They are there to help you out as much as possible. Furthermore, you don’t need to submit the forms you fill with these lenders to the TSAHC.

Finally, when all is done and approved, there is an info session that you need to attend. This session will tell you the essential information you need to know as a first-time home buyer.

DPA – Down Payment Assistance for First-Time Buyers

If you find several programs under this category and you have approval for one of them. You can then also apply for DPA and get excellent assistance this way. Remember, DPA is other than a good mortgage plan from TSAHC.

This program will support your downpayment if you are eligible and make it a lot easier for you to buy and set up a new home. Under this program, you can either get a grant or a 2^nd lien loan.

In the grant, you don't have to pay it back, and it is excellent support for those who are short on cash for a downpayment. If you get the forgivable 2^nd lieu loan, the condition is the same, but you only have to repay this amount if you sell within three years or otherwise look for refinancing in the same amount of time.

You need to have a good credit score, and any number above 620 will allow you to enhance your chances of approval.

Which Programs Fall Under DPA?

If you want to be eligible for DPA, then you need to apply for one of 2 programs which are:

• Homes for Texas Heroes
• Home Sweet Texas

Let's discuss what conditions do they require. However, you should know that these programs don't necessarily require you to be using a first time buyer program Texas.

Homes for Texas Heroes – In this program, your eligibility requires that you are a professional from a list of Hero professions. These professions include public teachers and educators, nurses, security officers, etc. You can get more information about this on TSAHC’s official website.

Home Sweet Texas – This program is for everyone other than those on the list of Hero professions mentioned above. To learn which grants will be applicable to you, please take the quiz we shared above.

Home Buyer’s Comments and Reviews

• "Securing a home stands as our most significant financial choice to date, made possible by the down payment grant from TSAHC," expressed Felicia Bolton. She conveyed immense gratitude to loan officer Stacy Schriever and REALTOR® Debbie Patterson for introducing her to the invaluable programs offered by TSAHC.
• "Navigating the home-buying journey can be daunting, yet I count my blessings for the positive experience," expressed Ellie Moss. She extended her gratitude for the support and guidance received from loan officer Tina Chumley and REALTOR® Chelcy Gilliland throughout the entire home-buying process.

Final Words

If you are a first time home buyer grants Texas, then TSAHC programs are great support for you, allowing you to buy a new home at reasonable conditions. Visit their official website to learn more about their programs.