First Time Home Buyer (FTHB)

What is First Time Home Buyer (FTHB)?

First Time Home Buyer (FTHB) is a grant for homebuyers in Longview, Texas.

• Longview FTHB grant up to $14,500 forgivable over 5 years; 30%-80% AMI Gregg County.
• City of Longview's First Time Home Buyer program provides up to $14,500 as a forgivable grant (deferred forgivable second mortgage that fully forgives over 5 years) for FTHBs within Longview city limits. Funds may be applied to down payment, closing costs, prepaids.
• Funding comes from Local, HOME, and CDBG.

Do you have to pay it back?

First Time Home Buyer (FTHB) is structured as a grant, so it is not repaid.

• Repayment is triggered by Forgivable grant - 20% per year over 5 years. Recapture if sold/refi/non-occupancy during forgiveness term.
• The assistance is recorded in 2nd 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?

First Time Home Buyer (FTHB) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

First Time Home Buyer (FTHB) limits household income to 80% of the area median income, which varies by county and household size.

• 30%-80% AMI Longview MSA: $16,350 (30% AMI 1-person floor) to $82,250 (80% AMI 8-person ceiling).
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• 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?

First Time Home Buyer (FTHB) caps the purchase price as follows: Per HUD HOME 95% area median Longview MSA.

• Eligible property types include Single-family detached, townhouse, condominium, PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

First Time Home Buyer (FTHB) names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

First Time Home Buyer (FTHB) serves buyers purchasing in Longview, Texas.

How do you apply?

Applications for First Time Home Buyer (FTHB) 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, through HUD-approved 8-hour homebuyer education required..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply through City of Longview Community Development., 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.