Helping Texans achieve homeownership with grants for down payment and closing costs of 1% to 5% of your Texas home loan.
Verify Your Homeownership Across Texas Eligibility
The Homeownership Across Texas (HAT) Program works by providing financial assistance to eligible homebuyers in Texas.
It offers grants to help cover down payment and closing costs, with the grant amount being either 3% or 5% of the loan amount, depending on the type of mortgage.
To participate, buyers must meet income requirements (which vary by county), qualify for a mortgage through a participating lender, and purchase a home in an eligible area of Texas.
The program doesn't require repayment of the grant and has no recapture period.
The Homeownership Across Texas Program provides eligible homebuyers with a range of powerful benefits.
No Repayment Required: The grant does not require repayment, allowing homeowners to keep their financial resources for other needs.
Flexible Grant Amounts: Offers up to 5% of the loan amount for FHA, VA, or USDA loans and up to 3% for conventional loans.
No First-Time Homebuyer Requirement: Open to both first-time and repeat homebuyers, expanding eligibility.
Wide Range of Eligible Loan Types: Accepts various mortgage options, including FHA, VA, USDA, and fixed-rate conventional loans.
Primary Residence Requirement: Ensures that the assistance is directed towards homes that will be used as primary residences, promoting community stability.
Statewide Availability: Available for eligible homebuyers throughout Texas, with specific county income limits.
Support for Low to Moderate-Income Families: Aims to assist families who may struggle with traditional home buying costs, fostering homeownership in underserved communities.
No Recapture Period: Eliminates the concern of having to pay back the grant in the future, providing peace of mind to homeowners.
To qualify for the Homeownership Across Texas Program, applicants must meet the following requirements:
Credit score of 620 or higher.
Annual income below certain limits, which vary by county.
Completion of an eligible homebuyer education course.
Approval for a 30-year term FHA, VA, USDA, or conventional mortgage loan from a participating HAT lender.
Purchase price within certain limits, depending on the county.
Property must be located in Texas, but outside the city limits of El Paso, Grand Prairie, McKinney, and Travis County.
The home must serve as the applicant's primary residence.
Fixed interest rate mortgage (adjustable-rate mortgages are not eligible).
The Homeownership Across Texas (HAT) Program works in conjunction with standard mortgage loans.
The loan terms are primarily determined by the type of mortgage the borrower qualifies for through a participating lender. These can be 30-year fixed-rate FHA, VA, USDA, or conventional loans.
The program itself doesn't dictate specific interest rates or repayment terms for the mortgage. Instead, it provides a grant of either 3% or 5% of the loan amount (depending on the loan type) to assist with down payment and closing costs.
This grant doesn't need to be repaid and has no recapture period, effectively reducing the upfront costs of homeownership without adding to the borrower's long-term debt obligations.
We go beyond offering financial assistance by helping you maximize the down payment support you qualify for. Our dedicated team ensures you take full advantage of the available funds, guiding you through every step of the process.
From understanding eligibility to navigating grant applications, we provide local expertise and personalized support, so you can confidently secure the most assistance possible and achieve homeownership with ease.
