My First Texas Home supports eligible first-time homebuyers, veterans, and buyers purchasing in targeted areas.
With a competitive, fixed interest, 30-year home loan, you also get down payment and closing cost assistance of up to 5% of the mortgage loan.
Check Your Home Purchase EligibilityThe My First Texas Home Loan Program, offered by the Texas Department of Housing and Community Affairs, provides financial assistance to homebuyers.
Competitive, fixed interest, 30-year home loan.
Down payment and closing cost assistance up to 5% of the mortgage loan.
By combining TMP funds with the Mortgage Credit Certification Program, you can further increase your home’s affordability.
The current Mortgage Credit Certificate rate is 15% of eligible annual mortgage interest, subject to program and federal tax rules.
Any unused MCC credits can be carried forward for up to three years.
To qualify for the My First Texas Home Loan Program, you must meet the following requirements.
Be a first-time homebuyer who has not owned a primary residence within the past three years, a qualified veteran, or an eligible targeted-area buyer.
Your income must not exceed the program's income limit guidelines.
The property must not exceed the program’s purchase price limits.
Minimum credit score for FHA, VA, and USDA loans is 620. Debt-to-income follows automated underwriting approval; manually underwritten government loans are limited to 45%.
Eligible conventional loans require a minimum credit score of 620.
Eligible properties for the My First Texas Home Loan Program include.
Single-family units and Duplexes (exceptions apply).
Single units in condominium developments and planned unit developments.
The program also has funds set aside for targeted areas, where 70% or more of families have incomes 80% or less of the statewide area median income (AMI), or areas of chronic economic distress.
Ready to start your journey to homeownership? Follow these simple steps to apply for the My First Texas Home Loan Program.
Contact MakeTexasYourHome to initiate your online application. Our team will guide you through the initial steps and answer any questions you may have.
Prepare necessary documentation, such as proof of employment, income statements, and other relevant paperwork to support your application.
Fill out and submit your completed application along with the required documents. Double-check all information for accuracy.
Work with our mortgage specialists to get pre-approved for your home loan. This step helps you understand how much you can afford and streamline the home buying process.
Upon closing, access 2% through 5% of the total mortgage loan amount through a zero-interest three-year forgivable or 30-year deferred repayable second lien.
Congratulations! You're now ready to move into your new home and enjoy the benefits of the My First Texas Home Loan Program.
The My First Texas Home Loan Program offers home loans and down payment assistance to first-time homebuyers in Texas.
The program is available to first-time homebuyers or those who haven't owned a home as a primary residence within the past three years.
Qualified applicants can receive 2% through 5% of the total mortgage loan amount for down payment and closing costs.
Assistance is provided as a zero-interest three-year forgivable or 30-year deferred repayable second lien.
Yes, first-time homebuyers can apply and may also be eligible for a Mortgage Credit Certificate (MCC), which provides a tax credit.
An MCC is a tax credit that reduces your federal income taxes, making homeownership more affordable.
Start your online application by contacting MakeTexasYourHome, where our team will guide you through the initial steps.
You will need proof of employment, income statements, and other relevant documents to support your application.
The timeline can vary, but our team will work with you to ensure a smooth and timely process from application to closing.
Yes, you can apply even if you have previously owned a home, as long as you meet the program's eligibility requirements.
