Finding the perfect home loan in Texas doesn't have to be complicated.
Whether you're a first-time homebuyer or looking to upgrade, we offer a range of loan options tailored to every Texan's needs.
With Texas' best down payment assistance programs and leading Texas mortgage experts, owning your dream home in Texas is closer than you think.
Check Your Home Purchase EligibilityChoosing the right home loan is crucial, and our Mortgage Coaches are here to help simplify your decision. Explore our specialized loan options.
A popular choice for first-time homebuyers or those who prefer a lower down payment.
FHA loans offer flexibility in credit and income requirements, making homeownership accessible to a wider range of buyers.
Offering significant benefits for military service members, veterans, and their families, such as no down payment and no private mortgage insurance.
VA loans provide favorable terms to help our nation's heroes own their dream homes.
Ideal for buyers with stronger credit histories looking for a traditional financing route.
Conventional mortgages often come with competitive interest rates and various term lengths to suit your financial situation.
Understanding mortgage rates is crucial in making an informed homebuying decision. Here at MakeTexasYourHome, we provide daily updates on Texas mortgage rates to help you lock in the best rate at the right time.
6.09
5.15
More and more people are moving to Texas, keeping the housing market busy. Finding a house might be a little easier now than before, and prices aren't expected to drop dramatically.
In fact, some cities are already seeing a pick-up in sales. So, if you're looking to buy a house in Texas, things are looking good!
Below is a table that highlights some of the most popular locations to move to in Texas, along with the average home prices in each area, reflecting the current real estate trends and market values.
| Location | Average Home Price (2024) |
|---|---|
| Austin | $533,700 |
| Dallas | $353,000 |
| San Antonio | $292,700 |
| Houston | $323,600 |
| Fort Worth | $332,300 |
| Frisco | $448,000 |
| Arlington | $309,486 |
| El Paso | $195,500 |
| Plano | $458,300 |
| Irving | $373,400 |
MakeTexasYourHome is dedicated to helping buyers navigate the financial aspects of purchasing a home through several Down Payment Assistance (DPA) programs.
Each program offers significant savings, making homeownership more affordable.
Here's how the down payment assistance from each program would look like when buying an average-priced home in Dallas, priced at $353,000 in 2024.
Up to 5% of the loan amount.
For a home priced at $353,000, the assistance can be up to $17,650. This amount can be used towards the down payment and does not need to be repaid.
Up to 5% of the loan amount as a forgivable second lien loan or a grant.
For a home priced at $353,000, the assistance can also be up to $17,650. This assistance is provided as a forgivable loan or grant, making it effectively a gift if the homeowner meets the conditions of the program.
Up to 5% of the loan amount.
For a first-time buyer purchasing a home at $353,000, the assistance would similarly be up to $17,650. This program specifically supports first-time homebuyers, making it easier to enter the housing market.
Flexible down payment and closing cost assistance ranging from 2% to 5% of the loan amount.
For a home priced at $353,000, assistance can range from $7,060 to $17,650, depending on the specific percentage of the loan amount provided as assistance.
This program offers a 0% interest 2nd lien, with a 3-year forgivable option, making it an attractive choice for those who qualify.
This program is available to qualified home buyers across Texas, not limited to first-time homebuyers, and includes both government-backed and conventional loan options.
A mortgage is essentially a loan specifically designed for the purchase of real estate. When you apply for a mortgage, a lender evaluates your financial details—like your credit score, debt-to-income ratio, and other key factors—to determine the maximum amount you can borrow.
Once approved, you receive the funds to buy your home. The repayment of this loan is spread over a predetermined period, typically ranging from 10 to 30 years, during which you make monthly payments that include both the principal and interest.
To qualify for a home purchase, you generally need a reliable source of income, a low debt-to-income ratio, and sufficient liquid assets such as cash savings.
You present this financial information to a mortgage lender, such as a bank or a mortgage company, who then assesses how much money they will lend you.
This amount is influenced by various factors including your income level, credit history, and your past record of bill payments.
The amount of mortgage you can get approved for primarily depends on your overall financial situation and the type of mortgage you apply for.
Higher incomes and better credit scores typically increase the amount a lender is willing to provide because these factors suggest a lower risk of default.
The required credit score for purchasing a house varies based on the type of mortgage.
For conventional mortgages, a credit score of at least 620 is generally necessary, while FHA loans can require a score as low as 500 if you can make a 10% down payment. Generally, a higher credit score can secure a lower interest rate, which means lower monthly payments.
These are general guidelines and may vary by lender or adjust over time based on economic conditions. Always consult with a mortgage professional to understand the specific requirements and options available to you.
