Homeownership Across Texas grants 5 percent of the loan amount with VA, FHA, or USDA financed loans. Borrowers with conventional loans receive 3 percent grants. Grants do not come with any repayment or recapture period, nor is there a first-time homebuyer requirement.

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October 21, 2018
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Homeownership Across Texas

Financial Assistance for Homebuyers in Texas

The Southeast Texas Housing Finance Corporation (SETH) recognizes that though many potential homebuyers can afford the monthly mortgage payments on a new house, they don’t have enough money saved up for the down payment. That’s why SETH initiated the Homeownership Across Texas (HAT) Program, which provides eligible homebuyers with down payment and closing cost assistance in the form of a grant.

The purpose of this program is to make funds available to eligible applicants who are interested in purchasing a home but need financial help to pay the upfront costs, which include the down payment, as well as the closing costs and prepaid items required to obtain homeownership. These expenses can add up to a substantial amount, and the inability to pay it might keep people stuck in a renters trap.

If the homebuyer is financing with an FHA, VA, or USDA home loan, the program grants 5 percent of the loan amount, whereas borrowers financing with a conventional loan receive 3 percent. The grant does not come with any repayment or recapture period, nor is there a first-time homebuyer requirement.

Eligibility Requirements
  • Borrowers must fall within established income limits which vary by county.
  • All borrowers must qualify for a mortgage loan provided by a participating program lender. FHA, VA, USDA or conventional mortgages are all acceptable, as long as it has a fixed interest rate; adjustable rate mortgages are not eligible under the HAT Program. 
Property Guidelines
  • The home being purchased must be located in Texas and outside the city limits of El Paso, Grand Prairie, and McKinney, as well as Travis County.
  • Though there is no first-time homebuyer requirement, the home being purchased must serve as the applicant’s primary residence; no second homes or investment properties are eligible under the program.
Homebuyer Education
All borrowers on the mortgage must complete the online SETH Homebuyer Education Class.

Down Payment Grants in Texas

The Southeast Texas Housing Finance Corporation (SETH) offers Texas residents the 5 Star Texas Advantage Program, which helps eligible applicants with down payment and closing cost assistance in the form of a grant.

This program is designed for homebuyers to purchase a home anywhere in Travis County, including the City of Austin, by helping them overcome the obstacle of down payment costs. A grant of up to 5 percent of the loan amount is applied towards the down payment or closing costs.

The Southeast Texas Housing Finance Corporation (SETH) offers Texas residents the Home Star Program, which helps eligible applicants with down payment and closing cost assistance. SETH provides up to 4 percent of the total loan amount in the form of a down payment assistance grant.

Homeownership Across Texas grants 5 percent of the loan amount with VA, FHA, or USDA financed loans. Borrowers with conventional loans receive 3 percent grants. Grants do not come with any repayment or recapture period, nor is there a first-time homebuyer requirement.

This initiative provides teachers, police and correctional officers, fire fighters and EMS personnel, and veterans with down payment assistance between 3 and 5 percent of the loan amount and a 30-year fixed rate mortgage with several rates and loan options.

Along with a competitive, fixed interest, 30-year home loan, the Texas Department of Housing and Community Affairs’ My First Texas Home’s Taxable Mortgage Program (TMP) offers down payment and closing cost assistance of up to 5 percent of the mortgage loan.

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