Question 1

What is down payment assistance?

Accepted Answer

Down Payment Assistance (DPA) programs provide grants or low-interest loans to help qualified homebuyers cover their down payment and closing costs. Texas offers some of the best DPA programs in the country, including TSAHC, TDHCA, and local city/county programs. Many of these programs feature forgivable grants - meaning you don't have to pay them back if you live in the home for a specified period (typically 5-10 years).

Question 2

How much down payment assistance can I get in Houston?

Accepted Answer

Houston homebuyers can access various DPA programs offering up to $15,000 in assistance. TSAHC offers forgivable grants up to 5% of the loan amount, TDHCA provides up to $10,000 in zero-interest second liens, and local programs offer additional grants. The exact amount depends on your income, the home price, and which programs you qualify for.

Question 3

Do I have to pay back down payment assistance?

Accepted Answer

It depends on the program. Many Texas DPA programs offer forgivable grants that you don't have to repay if you live in the home as your primary residence for 5-10 years. Other programs provide zero-interest second liens that are forgiven over time. Some programs require repayment only if you sell or refinance within the forgiveness period.

Question 4

Who qualifies for down payment assistance in Houston?

Accepted Answer

Eligibility varies by program but generally includes income limits (typically 80-140% of area median income), first-time homebuyer status (haven't owned a home in 3 years), credit score minimums (usually 620-640+), and completion of a homebuyer education course. Some programs are available to repeat buyers or have occupation-specific requirements.

Question 5

How do I apply for down payment assistance?

Accepted Answer

To apply for DPA programs, contact us to discuss your eligibility. We'll help you identify which programs you qualify for, complete the homebuyer education course if required, gather necessary documentation, and submit applications to the appropriate programs. The process typically takes 2-4 weeks once you're pre-approved for a mortgage.

Down Payment Assistance in Houston

What Is Down Payment Assistance?

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