October 11, 2024 | by Laura Ross
Categories: Homeownership
Purchasing a home is one of the biggest financial decisions a person can make in their lifetime. And in most cases, in order to make that purchase, a down payment of at least 3% of the purchase price is required. What home buyers might not know is that there are several online resources available that can help them find down payment assistance (DPA) to help make their home buying journey more affordable. Below are three that we recommend.
Down Payment Resource connects homebuyers with down payment assistance programs (including TSAHC’s) that fit the criteria provided in the eligibility questionnaire found on their website. After filling out a short questionnaire that asks about location, profession and how much you can afford to spend, DPR provides a list of organizations and programs that may be able to provide you with DPA. Also found on their site are helpful resources and articles on the home buying process.
Over the years, TSAHC has partnered with DPR in several different capacities. In addition to sharing about TSAHC’s down payment assistance programs on their website, DPR staff also provided their expertise in Episode 17 of TSAHC’s On the House podcast, Busting Common DPA Myths. They have participated in other trainings and webinars for Texas REALTORs and lenders approved to administer TSAHC’s programs.
In partnership with Down Payment Resource, home buyers can now use the home buying websites Redfin and Zillow to determine if a property qualifies for down payment assistance from TSAHC or other providers. Each property page contains a section about DPA including a place for home buyers to submit their information to see if, and for which DPA program specifically, that they may qualify.
A new company called Stairs Financial connects home buyers with lenders who specialize in DPA programs. Home buyers fill out a questionnaire on their website, and Stairs Financial matches them with DPA providers (including TSAHC lenders) in their area. They also provide helpful resources and articles about DPA and the homebuying process on their website.
About TSAHC's Down Payment Assistance Programs
At TSAHC, we offer offers several different mortgage and down payment assistance programs on a statewide level that help Texas individuals and families purchase a home. The Homes for Texas Heroes Program provides down payment assistance for teachers, firefighters, EMS personnel, police officers, and veterans. The Home Sweet Texas Home Loan Program is available for buyers of any profession. To find out if you’re eligible, take our Eligibility Quiz.
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