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.

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Hill Country Home Down Payment Assistance

Financial Assistance for Homebuyers in Texas

In order to help homebuyers obtain governent-backed FHA, VA or USDA-RD loan financing, the Travis County Housing Finance Corporation offers the Hill Country Home Down Payment Assistance (DPA) Program. It 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.

With this program, eligible low- to moderate-income homebuyers will receive a 30-year fixed rate loan and a non-repayable grant equal to 4 or 5 percent of the loan amount going towards the down payment or closing costs. The program may be used in conjunction with other assistance programs, including Mortgage Credit Certificates (MCCs).


To be eligible for the program, all borrowers must meet the following criteria:
  • Applicants must have a minimum credit score of 640 and maximum 45 debt-to-income (DTI) ratio.
  • Maximum credit qualifying income may not exceed 140% of area median income, which for 2016 is $108,920.
  • All first-time homebuyers must successfully complete a HUD-approved homebuyer education course.
  • The purchase price must fall under the set limit, which is determined by the lender based on the borrower's credit, income, debt-to-income ratio and other factors.

There are some property requirements as well:
  • The property must be located anywhere in Travis County, including in the City of Austin.
  • Buyers must occupy the home as their principal residence, but there is no requirement on how long they must live in the home.
  • The program may only be used to purchase a home (i.e., no refinancing).
  • The program covers new or existing homes, and can include single-family homes, condominiums, or townhomes.
  • Manufactured homes are not permitted to participate in the program 

Down Payment Grants in Texas

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.

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.