If you are a first-time buyer, several state-run programs can help with down payments:
The Texas Department of Housing and Community Affairs provides "My First Texas Home" loans with competitive interest rates. 5. Appraisal and Closing home buying 101 texas
Use this time to hire a licensed inspector. In Texas, checking the foundation and HVAC system is critical due to shifting clay soils and extreme summer heat. 4. Texas Homebuyer Programs If you are a first-time buyer, several state-run
Before looking at houses, you need to know what you can afford. Texas has no state income tax, but it does have some of the highest property tax rates in the country. In Texas, checking the foundation and HVAC system
Your lender will require an appraisal to ensure the home is worth the loan amount. If the appraisal comes in low, you may need to negotiate the price or cover the "appraisal gap" in cash.
The Texas State Affordable Housing Corporation offers down payment assistance and mortgage tax credits for teachers, police officers, and low-to-moderate income families.