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Grant & (DPA) Down Payment Assistance Opportunities in Texas
City Down Payment Assistance Programs
The SETH Single Family Bond Program offers down payment assistance, closing cost assistance, grants, and fixed-rate mortgage financing for buyers in select Texas counties who have a maximum household income of $88,205 (this amount varies by location)
SETH Program works to help first-time homebuyers purchase a home:
SETH 5 Star Texas Advantage Program – provides a grant of up to 5% of the cost of the home. Repayment of the grant money is not required. Applicants do not need to be a first time home buyer, and the funds may be used for mortgages with fixed 30 year rates. The program is available everywhere in Texas except for the following cities; El Paso, Grand Prairie, and McKinney.
This program allows buyers to claim a tax credit of up to $2000 for a portion of their mortgage interest payments. The credit can be claimed every year for the life of the loan and helps reduce overall federal tax liability.
To qualify for this program, buyers must:
All types of mortgages (including VA, FHA, and conventional loans) are eligible for the program. It can be used for new construction or existing dwellings, including single family homes, townhomes and condominiums.. Buyers utilizing this program must complete a pre-purchase homebuyer education course and pay an issuance fee at closing.