First-time home buyers in Round Rock have many options when it comes to programs to assist with down payments, closing costs and other portions of the home buying process. Some of the programs are found through the local government, state government and federal government. Other programs come from private entities and from lenders.
Down Payment Assistance Programs
Several first-time home buyer programs in Round Rock may assist you with the down payment. There are many organizations willing to help including:
- 1st-Time Homebuyers DPA
- Texas Veterans Land Board
- CAHFC Single Family Bond
- TX Affordable Housing
- TDHCA Texas (Bond 77)
Many of these programs will help pay for the down payment or a portion of it. This can help to make it possible to buy a home in Round Rock when you are limited on how much you can save for your down payment.
Along with the down payment assistance programs for first-time buyers in Round Rock, there are some loan programs that will help, as well. The USDA Government Loan Program doesn’t require a down payment and there are several other benefits to this program, as well.
Another program that might work for some first-time home buyers is the HFA Insured Government Loan Program. This program has a low down payment of 3.5% of the purchase price and allows you to use a down payment assistance program or a gift for this amount.
In addition, you can look into the Mortgage Credit Certification and the TSHAC Bond or Hero’s Program. The Hero’s Program works only for police officers, firefighters and teachers, however.
If you’re a United States Military veteran, you can apply for a Veteran Home Loan. Veteran loans don’t require down payments, in most circumstances.
As a first-time home buyer in Round Rock, you don’t have to come up with tens of thousands of dollars to buy a home. There are plenty of down payment assistance programs and loan programs you can use to ensure you get the home you want without spending a lifetime saving for the down payment. Check into these programs and check with your real estate agent to find out if they know about any other programs in the area.