Frequently Asked Questions

Here you will find answers to questions you might have about down payment assistance and the process of buying your new home.

Q: What are the minimum requirements to receive homebuyers’ assistance?
A: you must have a secure job where you are making at least $30,000 a year, and have no major credit problems. If you have concerns about your credit we offer credit advise and work directly with credit counselors.

Q: How do I know what my credit score is?
A: there are various credit reporting agencies that can provide you a free credit report. We suggest you go to free credit report.com, free credit report instantly.com or annualcreditreport.com. You may also request a consultation from a credit professional. 

Q: do I have to be a first time homebuyer to qualify?
A: the Texas Department of Housing under the direction of Governor Rick Perry has introduced a program that contains no first time homebuyer requirements. The only requirement is that you intend to occupy the home as your primary residence.

Q: what is the maximum amount of down payment assistance
A: There are several different programs available.  Based on your family size, income and credit.  There are also private programs that have no income requirements.

Q: what is the maximum home purchase price?
A: the purchase price limit is currently $289,704 in the state of Texas.

Q: What does it cost to apply?
A: there is no cost to apply for assistance. 

Q: who pays the Realtor
A: the seller pays the Realtor commission upon a successful closing of escrow.

Q: how long does it take to qualify for down payment assistance?
A: on average, you can begin your new home in approximately 30 days or less.

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