Down Payment Assistance Homebuyer Programs

Did you know that the Texas Department of Housing and Community Affairs has released $50 million in funding for down payment assistance for first time homebuyers? In conjunction with the many programs available through Texas Department of Housing and Community Affairs and the Texas State Affordable Housing Corporation Ascendant Realty Group is committed to your life cycle housing needs. We have experienced participating loan officers on stand by to take your application and assist you in obtaining funds from one of our many Downpayment Assistance Homebuyer Programs.

Texas First Time Homebuyer Program

This program is designed to assist low to moderate-income homebuyers who are interested in purchasing their first home. "Assisted loans" are 1st lien mortgage loans made available at a an interest rate slightly above the current market interest rate and provide down payment and closing cost assistance. The amount of down payment and closing cost assistance is 4% of the mortgage amount and is available in the form of a 2nd lien, 30-year, 0% interest loan. Although no monthly payments are required, the amount of assistance is due and payable in full upon sale, refinance or repayment of the 1st lien mortgage. Assisted loans are available to borrowers earning up to 115% of the area median family income and up to 140% of the area median family income if purchasing in a targeted area.

All 1st lien mortgage loans are available at a 30-year fixed rate. The interest rates offered under the program will change periodically depending on the industry market rates at the time the loan is registered. Homebuyer Education is required for all borrowers receiving a loan through the Texas First Time Homebuyer Program.

Texas State Affordable Housing Corporation

This program assists lower income families and professional educators, teacher's aides, school librarians, school nurses, school councilors, allied heath or nursing faculty members, Homes for Texas Heroes including full-time paid fire fighters, peace officers, correction officers, juvenile corrections officers county jailers, EMS personnel and public security officers. The Home Sweet Texas Home Loan Programs provide 30-year fixed rate mortgage loans to eligible first-time homebuyers desiring to achieve the American dream of homeownership. In addition to a low interest rate, these programs offer down payment and closing cost assistance in the form of a grant. These programs are available through a network of participating lenders across the state. These programs are providing 5% of the loan amount as a grant for downpayment and closing cost assistance.

Neighborhood Housing Services of San Antonio

Neighborhood Housing Services (NHS) of San Antonio has several programs to financially assist potential homebuyers with the purchase of a home. Between $12,000 and $21,000 in down payment assistance is available from this entity for the purchase of a home that meets certain criteria in specific selected areas. Potential homebuyers must meet certain income limits. The maximum median family income for a family to qualify for a FHA loan in conjunction with our DPA program is 115%.

City of San Antonio Department of Planning & Community Development Homeowner Incentive Program

Neighborhood Housing Services (NHS) of San Antonio has several programs to financially assist potential homebuyers with the purchase of a home. Between $12,000 and $21,000 in down payment assistance is available from this entity for the purchase of a home that meets certain criteria in specific selected areas. Potential homebuyers must meet certain income limits. The maximum median family income for a family to qualify for a FHA loan in conjunction with our DPA program is 115%.

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