Texas Homeownership Division

The average out of pocket cost a first time home buyer will encounter is 7% to 10% of the sales price.

  • 3%-5% for down payment for the loan
  • 2%-5% toward lender and closing fees

Buyers who struggle to save for the  down payment are left with the option of  obtaining a loan or gift from a family member or friend, or  waiting until the down payment is saved.  Depening on the buyer’s income, credit and the price of the home, first time home buyers can receive 3% to 5% in assistance.  Below are 3 types of down payment assistance programs in Texas.

Program Descriptions

My First Texas Home (TMP 79)
Effective October 2012, TDHCA announced the release of $600 million in homebuyer assistance — the largest amount ever offered by the state — offers qualified homebuyers competitive, 30-year fixed annual mortgage rate loans with down payment assistance.

Texas Mortgage Credit Certificate Program
Texas Mortgage Credit Certificate Program allows qualified buyers to claim a credit against federal taxes based on a percentage of annual mortgage interest paid. The credit increases a family’s disposable income by reducing the household’s federal income tax obligation. The tax credit is valid for the term of the mortgage loan as long as the borrower occupies the property as their primary residence.

Texas Statewide Homebuyer Education Program (TSHEP)
Texas Statewide Homebuyer Education Program (TSHEP) is designed to work with local nonprofit organizations to teach the principles and applications of comprehensive pre- and post purchase homebuyer education, and to certify participants as homebuyer education providers.


For more information on down payment assistance call 713-443-3423 or visit http://www.chatmanhomes.com




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