Loan Program
Down-Payment Assistance in Texas
Programs that may help with the down payment and closing costs.
What is down-payment assistance?
Down-payment assistance programs may give a grant or a forgivable loan toward your down payment and closing costs. What's available, and who's eligible, depends on the program, where the home is and your situation.
Who looks at down-payment assistance
- First-time homebuyers
- Buyers with limited savings
- Buyers who meet a program's rules
Where down-payment assistance can help
- May lower the cash you need at closing
- May be paired with an eligible loan
The steps, in order
A first conversation, then a review of your goals and finances, then comparing loans. After that come a secure application, your documents, underwriting, and final approval and closing. No approval is implied before underwriting.
- 1.A first conversation
- 2.A review of your goals and finances
- 3.Comparing loans
- 4.A secure application
- 5.Your documents
- 6.Underwriting
- 7.Final approval and closing
What to weigh with down-payment assistance
- Income limits and other rules apply
- Programs vary by area
- Some programs have to be paid back
What a lender reviews for down-payment assistance
- Income limits
- The program's definition of a first-time buyer
- The program's own rules
- A homebuyer class, where the program requires one
Property rules for down-payment assistance
- • Eligible areas and types of home
- • Purchase price limits may apply
Documents for down-payment assistance
- Proof of income
- The program's own forms
- Proof of a homebuyer class, where required
The down payment on down-payment assistance
Mortgage insurance on down-payment assistance
Questions to ask Bert about down-payment assistance
- Does my situation fit this kind of loan?
- What documents will I need?
- What costs should I plan for besides the down payment?
- Which assistance programs could I be eligible for?
Talk it through with Bert
Program availability and eligibility vary. Ask Bert whether this loan fits your situation.
Schedule a CallImportant
This is educational information, not a commitment to lend or a guarantee of eligibility. Eligibility, pricing, rates, and terms depend on the borrower and transaction. A licensed mortgage professional must review your complete scenario.