El Paso Housing Finance Corporation Mi Casa Grant Program

El Paso Housing Finance Corporation Mi Casa Grant Program is a grant for homebuyers in El Paso, Texas. The Mi Casa Homebuyer Grant Program from El Paso Housing Finance Corporation provides a true grant (no repayment required) of up to 4% of the mortgage amount — up to $20,000 — for down payment and closing costs on homes within El Paso city limits. Buyers receive a competitive 30-year fixed-rate government-backed mortgage. First-time homebuyer status is generally required, with exceptions for targeted area purchases and veterans. Up to $20,000 grant. No repayment required. 4% of loan amount. FHA/VA/USDA eligible. Funding comes from Local.

El Paso Housing Finance Corporation Mi Casa Grant Program is structured as a grant, so it is not repaid. The assistance is recorded in Grant (no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

El Paso Housing Finance Corporation Mi Casa Grant Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 640. A homebuyer education course is required. Citizenship or immigration status: yes.

El Paso Housing Finance Corporation Mi Casa Grant Program sets its income limit as follows: Non-targeted areas: $90,600 (1-2 people), $105,340 (3+ people); Targeted areas: $109,920 (1-2 people), $128,240 (3+ people). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

El Paso Housing Finance Corporation Mi Casa Grant Program caps the purchase price as follows: Within El Paso city limits; subject to program purchase price limits. Eligible property types include Single-family. New construction is eligible.

El Paso Housing Finance Corporation Mi Casa Grant Program serves homebuyers purchasing in El Paso, Texas. The program gives priority to designated target areas, so the address matters as well as the county.

Applications for El Paso Housing Finance Corporation Mi Casa Grant Program go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.