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.

FHA Mortgage Loan Rates

August 18, 2018
FHA Rates for August 18, 2018
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Homes for Texas Heroes Program

Financial Assistance for Homebuyers in Texas

The Texas State Affordable Housing Corporation wanted to help some of the state’s hardworking individuals achieve their dreams of homeownership, which is why they introduced the Homes for Texas Heroes Program. This initiative provides teachers, police and correctional officers, fire fighters and EMS personnel, and veterans with down payment assistance and a 30-year fixed rate mortgage with several rates and loan options.

The program grants applicants funds between 3 to 5 percent of the total loan amount, to be put toward the down payment and/or closing costs associated with purchasing a home. This money is a gift, with no repayment terms, and no requirement to live in the home for minimum time period.

The Homes for Texas Heroes Program is available to homebuyers statewide, through a network of participating lenders. While there is no first-time homebuyer requirement, those who are purchasing their first home can also apply for a Mortgage Credit Certificate (MCC). Texas Heroes who use the down payment and MCC assistance together will receive their MCC for free, saving $500.

Eligible Professions
  • Allied Health Faculty Member
  • Corrections Officer
  • County Jailers
  • Emergency Medical Services Personnel
  • Fire Fighters
  • Juvenile Corrections Officers
  • Military Veteran
  • Nursing Faculty Member
  • Peace Officer
  • Professional Educator
  • Public Security Officer
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.

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price and income limits.

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.

FREE CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!