effort to help potential home owners, I have composed a summary list of many
of the "DOWNPAYMENT ASSISTANCE" programs being offered. For
more information, contact Sonya L. Roberts directly at (832)
1.TDHCA First Time Homebuyer Program: This program is designed
to provide low interest home loans for eligible families and individuals
through the sale of exempt mortgage revenue bonds. The State of Texas also
offers down payment and closing cost assistance for eligible buyers when
funding is available.
2.Subsidized Home Loan Program: This program offers a second
lien mortgage loan to help with the purchase of a home.
3.SETH: This program provides assistance for closing cost for
individuals outside of the city limits.
4.FannieMae: FannieMae provides financial products and services
that increase the availability of housing for low, moderate and middle-income
5.Housing Opportunities of Houston (HOH): This program
contracts governmental agencies to administer funds of up to $9,500 for a new
home and up to $3,500 for a pre-existing home.
6.Harris County Community Development Agency: This program,
along with HOH, provides down payment assistance is for families in Harris
7.Fort Bend County Community Development Agency: This program
is similar to HOH, except these funds are allotted for Fort Bend County
8.Mortgage Credit Assistance Program: This program provides a
federal income tax credit of 20% of the mortgage interest, which pays up to
$2,000 per year for the life of the mortgage.
9.Houston Housing and Community Development Department:This
program provides help for potential homebuyers to buy a new or existing home.
10.The Texas Home of Your Own Program (HOYO): This coalition provides
down payment assistance and architectural barrier removal funds to low-income
homebuyers with disabilities.
11.Homebuyer Assistance Program for Veterans:
a. Through the Texas Veterans Land Board, home
loans may be obtained directly if they are $45,000 or lower. The Land Board
also provides assistance to Texas Veterans by guaranteeing home loans, setting
below market interest rates and avenues to lower the interest rates for loans
up to $200,000.
Grants for First-Time Military Buyers. Active duty personnel, veterans, retired
members of the military, and employees of the U.S. Department of Defense and
the Department of Homeland Security are eligible to apply for up to $5,000 in
down payment and closing costs in the purchase of a first home. The national
nonprofit Pentagon Federal Credit Union Foundation is offering the assistance
through its Dream Makers program and says the grants can be
applied to a mortgage from any financial
12.Zero Percent Loan Program: This program provided assistance
to low and moderate- income households to purchase new homes. The loan must
be repaid in 10 years, but has no interest.
13.Savings Program: When approved for this program and you save
$1,000, the program will match 2:1 and give you $2,000.00 in addition to the
money you saved for a total of $3,000. There are very strict income
14.U.S. Department of Agriculture, Rural Development (USDA): This
program has a "Loan Program" that helps low-income individuals and
families purchase homes in rural areas.
15.Certified Teachers Program: This program provides 5 ?
percent down payment. You must be a certified teacher and have taught in
Texas for 3-5 years.
16.Housing Trust Fund: This program provides assistance for the
acquisition, rehabilitation, and new construction of affordable housing.
17.Texas City First Time Homebuyer Assistance Program: This
program provides up to $5,000.
18.Charitable Nonprofit Down payment Assistance Programs: There
are several programs that fit under this umbrella. They include Nehemiah,
Genesis, Texas Care, and Ameridream, to name a few. Usually these programs do
not require you to be a first-time homebuyer, have no income, asset or
geographical restrictions, and there is no repayment of the gift funds.