El Paso Housing Finance Corporation Mi Casa Grant Program

What is 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.

How much assistance does it provide?

El Paso Housing Finance Corporation Mi Casa Grant Program provides assistance worth 4% of the purchase price, as set by the program.

• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

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.

Who qualifies?

El Paso Housing Finance Corporation Mi Casa Grant Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

El Paso Housing Finance Corporation Mi Casa Grant Program serves buyers purchasing in El Paso, Texas.

• The program gives priority to designated target areas, so the address matters as well as the county.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.