Every first time San Antonio home buyer should know about down payment assistance.Homeownership is a financial goal for most Americans. It’s a good way to achieve stability and a secure financial future. For some homebuyers, especially for those who are currently renting, coming up with a down payment can be a real hurdle to buying a home. Luckily for those looking in the San Antonio area, there are a number of programs geared toward the first time San Antonio home buyer. Several state and local agencies have down payment assistance programs, and there are also homebuilders that run specials for zero move in homes.

First time home buyers who are veterans can find may excellent loan programs through the VA. Purchase Loans often offer low interest, as well as having no requirement for a down payment or mortgage interest. Learn more about VA home loans

You Might Not Have to Save up for a Down Payment! Learn About Zero Move In Homes

Home buyers who aren’t veterans still have a number of programs to check out. The 5 Star Texas Advantage Program is one. Borrowers receive a grant, up to 6% of the loan amount, to cover the downpayment or closing costs. Some borrowers will be eligible for another grant of up to 2% of the loan amount. There are some income requirements for this additional grant. A great advantage of a grant is that it does not have to be repaid. The program also does not have a first-time buyer requirement. 

The Texas State Affordable Housing Corporations has loan programs to assist home buyers with low to moderate incomes. The Home Sweet Texas Home Loan Program offers 30-year, fixed interest mortgage rate loans, with down payment assistance. A grant of 3 to 5% of the loan is given to buyers to help them with the down payment. This grant does not have to be repaid. The program is open to both first time buyers and those who have owned a home before. 

The city of San Antonio has its own programs to help the first time San Antonio home buyer. The Homeownership Incentive Program (HIP) offers no-interest loans of between $1,000 and $12,000. These loans can be used to cover the downpayment or other costs associated with buying a home. 

In addition to all these state programs, builders will often run specials on zero move in homes. To find out more about state programs or builders’ programs, call 210.860.1775 or text Homesforsale to 36260.