My Choice Texas Home
Texas Department of Housing and Community Affairs offers My Choice Texas Home to home buyers in Texas: 5% of the home loan at most, as a a loan, either forgivable or deferred.
- Amount
- 5% of the home loan at most
- Type of help
- A loan, either forgivable or deferred
- Only first-time buyers
- No
- Course for homebuyers
- Required
My Choice Texas Home: how does repayment work?
Your loan is either forgiven after 3 years (36 months) or deferred: a 30-year 0% loan repaid at sale or refinancing.
The program sets a number of years; keep the home and its first mortgage that long, and the forgivable loan is written off.
Monthly payments are zero on a deferred loan, but selling, refinancing or paying off the first mortgage makes the whole sum due.
My Choice Texas Home: who can qualify?
- With an FHA, VA or USDA loan, your household income can be up to 170% of your area's median family income; with a Freddie Mac HFA Advantage loan, county limits apply.
- Being a first-time buyer isn't required.
- Before buying, you'll take a homebuyer education course.
- TDHCA's program includes a 30-year mortgage at a low interest rate.
Your county and household size set most limits. Our HUD income limits lookup shows the median income in your area and where your household falls.
My Choice Texas Home: how to apply
- You apply through an approved lender, along with your home loan, because Texas Department of Housing and Community Affairs sends this help through those lenders.
- Your lender reviews the home, your credit and your income against the program's rules, then sets the money aside on your behalf.
- It goes toward your down payment plus closing costs and is paid at closing.
For the full rules and to see whether it's taking applications, visit Texas Department of Housing and Community Affairs's page for My Choice Texas Home, or choose a lender from the agency's participating lender list.
My Choice Texas Home: ask a lender
Tell us where you're buying and a lender that works with Texas's programs can tell you whether My Choice Texas Home fits you, and what you could combine with it.
Don't want to call? Share your details and the lender will get in touch.
More Texas programs for first-time buyers
- Homes for Texas Heroes Home Loan Program:
This comes as a grant or forgivable loan, worth up to 5% of the mortgage.
- Home Sweet Texas Home Loan Program:
You get a grant or a forgivable loan, up to 5% of the mortgage.
Down payment assistance in every state · Every Texas first-time home buyer program