Hey there! I know that buying your first home can feel a bit overwhelming, especially when it comes to gathering enough for a down payment. But don’t worry—there are programs out there designed to help folks just like you in Amarillo, Texas.

One such program is offered by the Texas State Affordable Housing Corporation (TSAHC). They provide down payment assistance and fixed-rate mortgage loans to eligible homebuyers in the Texas Panhandle, including Amarillo.

For instance, Josh and Sarah Barnes, a couple from Amarillo, benefited from TSAHC’s program by receiving a grant for down payment assistance and a Mortgage Credit Certificate, which saves them up to $2,000 annually on their income taxes.

For more details, visit the TSAHC official website.

Program Details

Program Name:

TSAHC Home Buyer Programs

Source of Funding:

Texas State Affordable Housing Corporation

Eligibility Criteria:

• Credit score of at least 620
• Meet certain income requirements
• First-time and repeat homebuyers are eligible
• Specific programs available for various professions, including educators, police officers, firefighters, and veterans

Benefits:

• Down payment assistance available as a grant or deferred forgivable second lien loan
• Fixed-rate mortgage loans
• Mortgage Credit Certificate for first-time buyers, offering up to $2,000 in annual tax savings

Potential Drawbacks:

• Must work with a participating lender
• Income and purchase price limits apply
• Homebuyer education course required

Application Process:

1. Take the online Eligibility Quiz on TSAHC’s website to determine qualification.
2. If eligible, contact a participating lender in your area to begin the application process.
3. Complete a homebuyer education course before closing on your home.

Type of Assistance:

Both down payment assistance and grants are available.

Availability:

Ongoing

For more details, visit the TSAHC official website.

I hope this information helps you on your journey to homeownership! If you have any more questions or need further assistance, feel free to ask.