Skip to site map | Skip navigation TDHCA Home | Contact TDHCA | About TDHCA | Calendar | Press Room | Employment
TDHCA New Low Rates
HomeBuyersRealtorsLendersAvailable FundsOther Homeownership Programs


Get Acrobat Reader
Free software to view PDF files

Frequently Asked Questions

Our frequently asked questions are below. If you don't find the answer you are looking for, call us at 1-800-792-1119 and we will be glad to help.


What is My First Texas Home?
My First Texas Home is a program offered by the state of Texas to help Texans buy their first home. The program provides low-interest rate home loans for eligible families and individuals through the sale of tax-exempt mortgage revenue bonds. top

Who is eligible for the program?
Homebuyers who have not owned a home within the past three years, who meet program income guidelines and do not exceed the program purchase price limits are eligible to apply for a loan under this program. top

What type of home can I buy?
Any new or existing home in the state of Texas that does not exceed the maximum purchase price limits of the program. Manufactured homes are allowable if the home is permanently affixed to a foundation and meet FHA guidelines. All homes purchased under this program must meet certain quality standards. top

How do I apply for the funds?
TDHCA does not actually loan you the money. The mortgage loan funds are available through a network of participating lenders located throughout the state. If you experience difficulty with one of the participating lenders, please contact us at 1-800-792-1119. top

How do I know if I qualify for a My First Texas Home?
A participating lender will determine your ability to repay a 30-year mortgage loan by reviewing your employment and income information, total monthly debt obligations and your past experience with credit along with information about the value of the property you want to buy. These lenders will pre-qualify you so that you will know the approximate price range of homes to shop for. The lender will complete all necessary paperwork for loan approval and assist in the coordination of loan closing with your real estate professional and closing agent. It’s a good idea to get pre-qualified by one of the participating lenders prior to shopping for a home. If you do not qualify for a loan due to credit problems, visit Help for Texans to locate a certified consumer credit counseling provider in your area. top

Is this a free program, or are there any costs involved?
As with most mortgage loans, there are fees (closing costs) associated with this program. TDHCA does, however, limit the fees participating lenders may charge to help minimize your costs of closing the loan. top

How long does the mortgage process typically take?
In general, the mortgage process takes between 45 to 60 days from the time of application to closing. This time frame is dependent upon a number of factors including the individual lender’s process and any potential qualifying issues. top

What comprises a monthly mortgage payment?
Your monthly mortgage payment includes a payment to the principal balance of your loan, the interest payment, and your escrow payment (monthly payments collected to pay your hazard insurance, mortgage insurance, flood insurance, if applicable, and property taxes.) This is commonly referred to as P.I.T.I. (principal, interest, taxes and insurance.) top

Are funds available for down payment and closing cost assistance?
Yes. As with most mortgage loans, a minimum down payment is required. TDHCA usually has funds available for use in conjunction with select mortgage revenue bond programs. The funds are available exclusively to lower income homebuyers. To see if you qualify, contact one of the participating lenders. top

Can I rent my home obtained under this program?
No, you may not rent a home obtained under this program. The home must be your primary residence. top



Help us improve.
Complete a survey.
(Opens a new window)



*30-year fixed annual percentage rate loan with 5% down payment on a $120,000 loan. Effective 06/27/14. Offer may terminate at any time without notice. Rate and annual percentage rate (APR) calculated on a 365 day year with mandated closing costs (2% origination and $400 program related fees). Rates/APRs subject to change with changes in closing costs. Properties and applicants must qualify. Other restrictions may apply. 221 E. 11th Street, Austin, Texas 78701, 800-792-1119.

Site Policies   Equal Housing   Top of Page