2023 First Time Home Buyers Houston Grants

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Owning a home isn’t just better for homeowners, but it benefits the community as well. Homeownership stabilizes communities. Homeownership lowers the crime rate and increases volunteerism in the community. Children who live in a home owned by their parents tend to do better in school. Because there are so many benefits, the Texas Department of Housing and Community Affairs offers programs that help first time home buyers get into a home in the Houston Area. The TDHCA isn’t a lender, nor does it approve applications. But it can offer assistance with your mortgage application and down payment through national and state programs designed to encourage homeownership.

First Time Home Buyer Grants Houston Programs For a First Time Buyer First Time Home Buyers Houston - Rock Mortgage

TDHCA works with mortgage lenders Houston to help the first time home buyers navigate buying a home answer all our questions. It can be overwhelming to go through the steps of homeownership the first time. TDHCA offers help with down payments and closing costs. You may be eligible for tax credits on the interest you pay on your mortgage. While you still need to meet eligibility requirements, with a minimum credit score for most programs, some planning, and work, you may find that you are eligible to buy your home through one of these programs:

  • Freddie Mac and Fannie Mae loans for first time home buyers offer low down payment programs. You may only need 3% of the home’s value.
  • FHA loans have relaxed qualifications requirements, such as lower credit scores, but you may need a 10% down payment.
  • VA loans are available to military members, veterans, and surviving spouses with no minimum credit score and no down payment.
  • USDA loans for lower-income buyers in rural and suburban communities.
  • My First Texas Home program for first time home buyers and veterans with down payment and closing costs assistance.
  • My Choice Texas Home helps with down payments and closing costs, but income and minimum credit scores apply.
  • Texas Mortgage Credit Certificate is a tax credit for first time home buyers.

Some of these first time home buyer grants Houston programs can be combined for maximum benefit. If you qualify, you can easily see savings of $5,000 or more on closing costs. Getting low-interest rates helps you keep your payment lower, but it also means you’re putting more money toward the equity of the home instead of interest, so you own more of your home as you pay off the mortgage.

Qualifying for First Time Home Buyer Grants Houston First Time Home Ownership

Many people qualify as first time homeowners even when they have owned a home before. Some first-time home buyer advantages apply when you haven’t owned a home in three or more years. If your spouse has not owned a home, but you did with an ex-spouse, you may qualify under the current spouse. Don’t discount your status for a program until you speak with the professionals who understand the programs.

What a First Time Home Buyer in Houston Should KnowHappy Young Asian Couple with Realtor Agent

It can be scary when you’re searching for first time home buyer grants Houston. It’s not just because a home is such a big investment. You might be worried that your credit isn’t good enough or that you don’t have a big enough down payment. The TDHCA wants to break down barriers to homeownership. Their resources can help you understand the process, and you can rely on their network for credible information.

Buying a home is going to take time. It can help you get preapproved for your mortgage through a qualified lender before starting looking for your home. You’ll know how much you can afford and won’t have as many butterflies waiting for your mortgage to be approved after you make an offer.

If you’re concerned about the market, you can still start learning about the home buying process and getting your credit in order. When you’re ready to buy a home, you will be prepared to invest by understanding what you need to do.

Texas Home Buyer Stats

Median Home Sale Price in TX1 $326,800
Minimum Down Payment in TX (3%) $9,804
20% Down Payment in TX $65,360
Average Credit Score in TX2 693
Maximum TX Home Buyer Grant3 $40,000+ in Dallas, or 5% of the loan amount statewide

Lenders Help with First Time Home Buyer Grants Houston 

Rock Mortgage can help with mortgage loans in Houston whether you’re a first-time home buyer. Our team wants to find solutions to get your family into the home of your dreams. We can help you find the programs you qualify for to make homeownership a reality. Contact us today.


First Time Home Buyers Houston


Updated: 2023 First Time Home Buyers Houston Grants | Rock Mortgage — Houston, Texas

Billy Evans

Billy Evans

Billy Evans is a Loan Officer at Rock Mortgage. As a father and family man Billy understands the importance and want to have a beautiful home to raise and grow a family in. That is why he has made it his mission to help everyone get the best mortgage solution possible to fit their financial needs. Billy is also a former United States Marine, as a Veteran himself and mortgage professional he has combined his knowledge and experience to passionately serve Veterans. When Billy isn’t working, he enjoys spending time with his wife, daughter, and their puppy Ollie!