First Time Homebuyer's Program

First Time Homebuyer's Program is a grant for homebuyers in Texas City, Texas. Texas City FTHB grant up to $10,000 forgivable over 5 years; 30%-80% AMI Galveston County. City of Texas City's First Time Homebuyer's Program provides up to $10,000 as a forgivable grant (deferred forgivable second mortgage that fully forgives over 5 years) for FTHBs within Texas City limits. Funds may be applied to down payment, closing costs, prepaids. Funding comes from Local, HOME, and CDBG.

First Time Homebuyer's Program is structured as a grant, so it is not repaid. Repayment is triggered by Forgivable grant - 20% per year over 5 years. Pro-rata recapture 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.

First Time Homebuyer's Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: FTHB waived for displaced homemakers. On credit, the program states: 620 minimum FICO. A homebuyer education course is required, through HUD-approved 8-hour homebuyer education required. Residency requirement: Property within Texas City limits. Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien. FTHB required. Property within Texas City limits. Income within 30%-80% AMI Houston-The Woodlands MSA ($19,900-$99,950 by HH size). 620 FICO. HUD-approved 8-hour education. $500 borrower investment. Owner-occupancy required. HQS inspection. CDBG/HOME affordability period.

First Time Homebuyer's Program limits household income to 80% of the area median income, which varies by county and household size. 30%-80% AMI Houston-The Woodlands-Sugar Land MSA: $19,900 (30% AMI floor) to $99,950 (80% AMI ceiling) by HH size. 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.

First Time Homebuyer's Program caps the purchase price as follows: Per HUD HOME 95% area median Houston MSA. Eligible property types include Single-family detached, townhouse, condominium, PUD. New construction is eligible. Manufactured homes are not eligible.

First Time Homebuyer's Program 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.

First Time Homebuyer's Program serves homebuyers purchasing in Texas City, Texas.

Applications for First Time Homebuyer's Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply through City of Texas City Community Development. 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.