first time home buyer texas loan options and tips

What qualifies and why it matters

In Texas, a first-time buyer typically means you have not owned a home in the past three years. Many programs pair a fixed-rate mortgage with down payment assistance or a tax credit, helping you manage upfront costs while keeping monthly payments predictable.

Common programs to consider

The state housing agency offers options like My First Texas Home and mortgage credit certificates, and local cities may add grants or forgivable seconds. Conventional, FHA, VA, and USDA loans can be layered with assistance if you meet income, purchase price, and occupancy rules.

• Down payment help: Deferred or forgivable seconds to cover 3%–5% plus closing costs.
• Credit and income: Minimum scores apply; income caps vary by county and household size.
• Homebuyer course: An education certificate is often required before closing.
• Property type: Must be your primary residence; some programs limit condos or new builds.

Start by comparing total cost-rate, fees, mortgage insurance, and assistance terms-and get a written estimate from at least two Texas-approved lenders before you commit.