In a previous post, I discussed various types of home loans to help clear some of the air of confusion that surrounds them. Trying to figure out which type of loan is right for you and your family can be scary, especially if you have a low credit score or large debts.
Well, there is something else out there that can help if your family is struggling with being able to pay for a new home!
Many cities in Texas are offering grants in order to help first-time home buyers buy a house. These programs provide monetary assistance with down payments and closing costs on a home, and are provided by HUD (The US Department of Housing and Urban Development).
Now, what’s the catch, you ask. Well, there are many stipulations for these programs, including income requirements, training programs (usually a one day seminar), and well, you must be a first-time homebuyer. There are some exceptions to the label of “first-time homebuyer,” but if you don’t ask, you’ll never know if you qualify! There are hundreds, thousands of people who buy homes every day who haven’t even heard of these programs.
For more information, you can find all of the HUD sponsored city programs in Texas here.
For a quick reference to all of the cities that sponsor programs in the DFW Area, go straight to their Homebuyer Assistance Program (HAP) pages: