Current Texas Mortgage and Refinance Rates

If you’re a first-time homebuyer who wants to put down roots in Texas, you may be eligible for some added assistance with your down payment and closing costs. The following programs are specifically geared toward those looking to settle down in the Lone Star State.

Home Sweet Texas

The Home Sweet Texas program offers low- to moderate-income Texans down-payment assistance as a grant or a forgivable second-lien loan. The down-payment assistance can equal up to 5% of your mortgage amount.

Who qualifies?

Eligible homeowners must:

• Meet certain income and purchase price limits, though expanded limits are available in certain targeted areas
• Use a participating lender

Homes for Texas Heroes

As the name suggests, the Homes for Texas Heroes program provides down-payment assistance grants or forgivable second-lien loans to those who work to help others. Teachers, police officers, firefighters and emergency medical services (EMS) personnel, corrections officers and veterans are eligible, even after buying their first home.

Who qualifies?

Eligible homeowners must:

• Meet the specific eligibility criteria required for their profession
• Meet certain income and purchase price limits, though expanded limits are available in certain targeted areas
• Use a participating lender

My First Texas Home

Available to first-time homebuyers, the My First Texas Home program offers a 30-year, 0% interest loan that can help cover the upfront costs of buying a home. The loan can be worth up to 5% of your mortgage amount and it can be combined with Texas’ mortgage credit certificate.

Who qualifies?

Eligible homeowners must:

• Be first-time homebuyers with a minimum credit score of 620
• Meet income and property value limits
• Work with a participating lender