Texas First Time HomeBuyer programs?

[Christopher Murphy]

Hi All,

I have been exploring for the past couple months and recently came across some first time home buyer programs that I think I need to take advantage of. I am scrambling to find more information as there is one deal in particular that I am hoping to put an offer on over my purchase price allowance.

I am eligible for DPA and MCC. I currently am approved up to $240K 5% conventional and $235K FHA. However, a lot of the cash flows in my area are at a $250K purchase price. Instead of covering the 10K-15K difference out of pocket, I would like to take advantage of these programs as a househack for ideally 1-2 years. I understand the MCC increases in effectiveness overtime to the 5-year mark, and other details about the DPA, but would love anyone who has used or researched these programs feedback.

ALSO, I am seeing this program with BoA up to $17,500 in first time home buyer assistance? I am calling in the AM, but would love feedback to others with knowledge and experience about any of these or other programs I should look into. Thank you!

Best,

Chris

[Bruce Lynn]

BBVA had a great program for a while, changed some during Covid and not sure what the current status is, but might be worth a look.