Down Payment Assistance

Home Mortgage Loan Special Programs

There are several programs available for homes located anywhere in Texas that provide funds for down payment and/or closing costs. This assistance comes in the form of grants which do not have to be repaid and/or second liens which must be paid in full when the home is sold or refinanced. The interest rates are fixed for 30 years. These programs have restrictions based on your family income, family size and the County you are purchasing in. Not all of the programs require that you be a first time homebuyer.

HEROES/EDUCATORS

Home Loan Programs provide a FHA loan to eligible homebuyers. In addition to a fixed interest rate, these programs offer down payment and closing cost assistance, up to 5% of the mortgage loan amount, in the form of a grant.

To be eligible for this program, a homebuyer must be of a specific group:

  • Homes for Texas Heroes: A full-time paid fire fighter, peace officer, corrections officer, juvenile corrections officer, county jailer, EMS personnel, or public security officer
  • Professional Educator: A full-time Texas classroom teacher, teacher’s aide, school librarian, school nurse, school counselor, or an allied health or nursing faculty member

CURRENT, PREVIOUS, OR FIRST TIME HOMEBUYER(S)

There are home loan programs available that offer competitive interest rates to eligible homebuyers. In addition to a fixed interest rate, these programs offer down payment and closing cost assistance in amounts ranging from 4% to 5% of the mortgage loan in the form of either a second lien or a grant. Eligible borrower(s) must meet the programs income limits and guidelines.

MORTGAGE CREDIT CERTIFICATE (MCC)

With an MCC, the qualified homebuyer is eligible to take a portion of the annual interest paid on the mortgage as a special tax credit, up to $2,000, each year that they occupy the home as their principal residence. An MCC has the potential of saving the homebuyer thousands of dollars over the life of the loan.

The program is open to those individuals and families who:

  • Meet income and home purchase requirements
  • Have not owned a home as a primary residence in the past three years
  • Meet the qualifying requirements of the mortgage loan
  • Will use the home as their principal/primary residence

The MCC is a non-refundable tax credit, therefore, the Homebuyer MUST have a tax liability in order to take advantage of the tax credit.

For more information on special programs, please contact your Premier Nationwide Lending Home Mortgage Loan Expert.

* Loan programs are subject to credit and property approval. Other guidelines may apply.

Residential Mortgage Loan Originators

As a dedicated mortgage professional, I will be there for you every step of the home buying process. From selecting the right home loan product that suits your life stage and financial means, to providing real-time loan status and communication between you, your real estate agent, the title company and my office, to being able to answer all of your questions during the life of your mortgage, I am committed to making you feel you are my #1 priority!


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Checklist

What you will need to ensure a smooth home mortgage process.

Loan Options

There are several loan options available when purchasing a home.

Down Payment Assistance

Find out more about special programs and who qualifies.

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