TDHCA My First Texas Home
- Quick Facts
- Pros & Cons
- Occupancy & Property Type
- Income & Purchase Price Limits
- Key Features & Conditions
- Other Limitations
- Mortgage Insurance & Fees
- Special Offers
- Similar Loan Programs
- Related Resources
Up to 5% down payment and closing cost assistance for Texas first time homebuyers in the form of either a 3-year forgivable second mortgage or a 30-year deferred repayable second mortgage. The deferred payment option generally offers lower interest rates than the forgivable option. My First Texas Home offers competitive interest rates on a 30-year fixed rate home loan from the Texas Department of Housing and Community Affairs (TDHCA).
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TDHCA My First Texas Home
Min. Credit Score
Min. Down Payment
Max Loan Amount
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Benefit type: Up to 5.00% of 1st Loan Amount
Type: Bond Deferred Payment Program - Forgivable
My First Texas Home offers two options, either a 3-year forgivable second mortgage or a 30-year deferred repayable second mortgage. The deferred payment option generally offers lower interest rates than the forgivable option.
First Mortgage Program Option
This program can be used in tandem with the following first mortgage programs in order to help fulfill down payment requirements, pay closing costs, or provide other benefits. Learn all about how grants, bonds & 2nd mortgages work here.
Pros & Cons
- Assistance available, between 2% and 5% of the loan amount
- Available in all of Texas
- 30 years, 0% interest second mortgage option
- 3-Year forgivable second mortgage option
- Can be combined with TDHCA Mortgage Credit Certificate (MCC)
- First time homebuyers only
- Subject to county income limits
- Subject to county purchase price limits
TDHCA My First Texas Homes are available in 1 state.
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“Adding the MCC to this option may provide an annual tax credit amount of 20% or 30% (% based on loan amount) of the annual interest paid on the mortgage loan."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Purchase Price Limit
$349,525 - $401,305
$85,300 - $119,200
Annual Household (1-2) Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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- A forgivable or deferred second, worth up to 5% of the home's value
- Funds may be used for closing cost and/or down payment assistance
- Buyers must meet program guidelines, complete homebuyer education courses, must be first time homebuyers, must occupy the property as a primary residence, and must not exceed the county income limits.
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is required for this loan program.
Class Name: TDHCA Homebuyer Education Course
This two-hour course will walk you through three important phases of the home buying process: one, preparing for homeownership; two, financing your home; and three, purchasing your home. Once you have completed the course, provide your lender with a copy of the Certificate of Completion. This will satisfy the homebuyer education requirement for TDHCA’s first time homebuyer programs.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: No Funding Fee
This program does not have a funding fee.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 2.5% 1%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Occasionally, there are special offers that can be added to this mortgage program that provide additional benefits, such as a reduction in your federal taxes (mortgage credit certificates), extra cash for your down payment, and more.
TDHCA Texas Mortgage Credit Certificate (MCC)
TDHCA's Texas Mortgage Credit Certificate (MCC) is an interest tax credit that is used to reduce your federal income tax responsibility each year. It is specifically for first time homebuyers and veterans and must be paired with TDHCA's "My First Texas Home" program.
TDHCA Bonus Gift Dollars
The Texas Homebuyer Program has partnered with local Housing Finance Agencies in certain eligible counties in Texas to offer free gift funds to be used in conjunction with the TDHCA Down Payment Assistance Programs.
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
2023 Down Payment Assistance Guide
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Calculate Income Limits Using Area Median Income
Income limits are used to determine whether or not a home buyer is eligible for certain mortgage programs, including down payment assistance programs or incentives that can help make home buying more affordable. It identifies the maximum income level set by each housing authority for its program participants, and varies from county to county across the US. Often, the tool used to establish this maximum income level is often called Area Median Income, or AMI.Read More
Texas Home Buyer Education Classes
Purchasing your first home is a big milestone and the process can seem overwhelming. Before you begin looking for a home, it is a good idea to complete a homebuyer education course.Read More
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Visit our Mortgage Education Center for more resources.
* Can be used with TDHCA FHA, VA, and USDA programs. Income and purchase price limits apply. Forgivable 2nd lien option available.
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