El Paso Housing Finance Corporation Welcome Home El Paso Grant

What is El Paso Housing Finance Corporation Welcome Home El Paso Grant?

El Paso Housing Finance Corporation Welcome Home El Paso Grant is a grant for homebuyers in El Paso, Texas.

• The Welcome Home El Paso Down Payment Grant Program provides grants up to 5% of the principal loan amount for homes within El Paso city limits — no repayment required. The program is funded through $25 million in single-family mortgage revenue bonds and requires completion of a homebuyer online course.
• Up to 5% of loan amount grant.
• No repayment.
• Min 620 credit score.
• All major loan types.
• El Paso city limits.
• Funding comes from Local.

How much assistance does it provide?

El Paso Housing Finance Corporation Welcome Home El Paso Grant provides assistance worth 5% 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 Welcome Home El Paso Grant 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 Welcome Home El Paso Grant 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 Welcome Home El Paso Grant sets its income limit as follows: $90,100 for households of 1-2; $103,615 for households of 3+.

• 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 Welcome Home El Paso Grant caps the purchase price at $349,525.

• Eligible property types include Single-family.
• New construction is eligible.

Where does it apply?

El Paso Housing Finance Corporation Welcome Home El Paso Grant serves buyers purchasing in El Paso, Texas.

How do you apply?

Applications for El Paso Housing Finance Corporation Welcome Home El Paso Grant 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.