First time San Antonio home buyers find zero down payment programs.Saving for a down payment is a challenge for many people buying a house for the first time. Especially for those renting in an expensive market, getting a 20 percent down payment can be quite difficult. Fortunately, for first time San Antonio home buyers there are several down payment assistance programs. The Texas State Affordable Housing Corporation (TSAHC) assists first time buyers, buyers with low to moderate incomes, as well as buyers who work in several different careers. These include teachers, peace officers, fire fighters, veterans, and correctional officers. The program provides 30-year fixed-rate mortgages. Down payment assistance may be up to 5% of the total loan. The TSAHC also offers a tax credit of up to $2,000 for interest paid on a mortgage.

Down Payment Assistance Programs Are Open to First Time Buyers

There are other sources of down payment assistance for first time San Antonio home buyers. Some banks and credit unions offer no or low down payment loans. These are mostly open to buyers who meet income requirements. Buyers who opt for a Federal Housing Administration (FHA) loan may use gifts from family members to meet the 3.5% down payment requirement.

Get more information about programs for first time buyers through the TSAHC. Feel free to give our office a call to learn more about down payment assistance and programs for first time buyers.