The My First Texas Home Program provides valuable assistance to first-time homebuyers and veterans in Texas.
By offering up to 5% down payment and closing cost assistance, along with low-interest 30-year fixed-rate mortgages, the program makes homeownership more accessible and affordable.
Use the calculator below to estimate your down payment assistance and monthly mortgage payments under the My First Texas Home Program.
Enter the total price of the home you wish to purchase.
Select the percentage of assistance (2%, 3%, 4%, or 5%) you are considering.
Input the annual interest rate for your mortgage (e.g., 3.5).
Enter the number of years for your mortgage loan (typically 30 years).
Results
Up to 5% Assistance: Receive significant help with your down payment and closing costs.
Fixed Interest Rates: Enjoy the stability of a 30-year fixed-rate mortgage.
Combine with Mortgage Credit Certificate (MCC): Potentially save more with annual tax credits on mortgage interest.
Statewide Availability: Accessible to eligible buyers across Texas.
The MCC Program allows first-time homebuyers and veterans to claim a portion of the mortgage interest as a tax credit on their federal income taxes, potentially saving up to $2,000 annually.
You may qualify if you have not owned a home as your primary residence in the past three years or if you are a qualifying veteran.
Start by verifying your eligibility online today for free.
Embarking on your journey to homeownership is an exciting milestone. With the assistance from the My First Texas Home Program, achieving this dream is more attainable than ever. Ready to move forward?
Ensure you meet all the program requirements.
Contact a participating lender to start the pre-approval process.
Begin searching for a home knowing you have financial assistance.
