1. It’s Your Turn to Finally Own a Home!
TEXAS FIRST TIME HOMEBUYER PROGRAM
Homeownership is recognized as the primary means of ac- ELIGIBLE HOMEBUYERS
cumulating wealth for most Americans. However, homeown- • Meet income and purchase price requirements*;
ership is about more than wealth; it is an intangible force • Have not owned a home within the past three years;
that holds neighborhoods together. When the majority of • Meet the qualifying underwriting requirements of the
Americans own the homes in which they live, households mortgage loan;
tend to be more stable, schools perform better, economic
opportunities increase, and communities become more vi- • Use the home as principle/primary residence; and
able. These are the driving factors behind the Texas First • Must complete an approved pre-purchase homebuyer
Time Homebuyer Program. education course prior to loan closing.
ABOUT THE TEXAS FIRST TIME HOMEBUYER PROGRAM ELIGIBLE HOMES
The Texas First Time Homebuyer Program provides competitive New and existing:
interest rates and down payment assistance to low to moderate • Single family homes
income eligible borrowers seeking to purchase their first home. • Townhouses
The program allows borrowers the opportunity to qualify for • Condominiums
mortgage loans with monthly payments that might otherwise • Manufactured housing (with certain restrictions)
be beyond their reach.
ELIGIBLE LOANS
BENEFITS The 30-Year fixed rate mortgage loan, available through a net-
• Safe, 30-year fixed rate mortgage loans work of participating lenders, must be underwritten according
• Down payment and/or closing cost assistance for income- to Federal Housing Administration (FHA), US Department of
eligible borrowers. Veterans Affairs (VA), US Department of Agriculture Rural Hous-
ing Service (USDA/RHS), or conventional loan criteria.
TEXAS
NOW IS A GREAT TIME TO
ATTENTION VETERANS!
The Texas Veteran’s Mortgage Credit Program waives first
BUY A HOME IN time homebuyer requirements for qualified veterans.
Toll Free: 1.800.792.1119
www.myfirsttexashome.com
The Texas First Time Homebuyer Program is brought to you by the State * For Targeted Areas, income and purchase price limits may be increased. The first time home-
of Texas and the Texas Department of Housing and Community Affairs. buyer requirement may also be waived for Targeted Areas and Veterans.