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First Time Homebuyers Assistance and Educational Program (FTHB) - HOME

Plano, Texas

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Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$418,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 15 years

What is First Time Homebuyers Assistance and Educational Program (FTHB) - HOME?

First Time Homebuyers Assistance and Educational Program (FTHB) - HOME is a forgivable loan for homebuyers in Plano, Texas.

  • City of Plano FTHB HOME-tier: up to $40,000 forgivable second mortgage at 0% interest for first-time homebuyers in Plano city limits. Tiered affordability: 5/10/15-year per HUD HOME. 60-80% AMI tiered. Max purchase $418,000. 620 FICO (govt) / 700 FICO (conv).
  • City of Plano's First Time Homebuyers Assistance and Educational Program (FTHB) - HOME tier provides up to $40,000 in down payment and closing cost assistance to first-time homebuyers purchasing primary residences within Plano city limits. HOME-funded. Structured as a 0% interest deferred forgivable second mortgage with tiered affordability per HUD HOME 24 CFR 92.254: 5-year (under $15K), 10-year ($15K-$40K), 15-year (over $40K). Income tiers from 60-80% AMI. Pairs with FHA, VA, USDA, or conventional 30-year fixed first mortgage. Maximum purchase price $418,000.
  • Funding comes from Federal.

Do you have to pay it back?

First Time Homebuyers Assistance and Educational Program (FTHB) - HOME is forgiven after 15 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Deferred 0% second mortgage. Tiered affordability per HUD HOME 24 CFR 92.254: 5-year (<$15K), 10-year ($15K-$40K), 15-year (>$40K). Sale, refinance with cash-out, transfer, or vacating before period ends triggers prorata repayment of unforgiven balance.
  • 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 Homebuyers Assistance and Educational Program (FTHB) - HOME is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time homebuyer required (no ownership in past 3 years). Veteran exception per HUD rule.
  • The home is occupied as a primary residence
  • On credit: 620 minimum FICO for FHA/VA/USDA government loans; 700 minimum FICO for conventional loans.
  • A completed homebuyer education course, through HUD-approved 8-hour homebuyer education required. Local providers include Frameworks CDC, TSAHC network, and other HUD-approved counseling agencies in Collin County and DFW MSA.
  • Residency: Property must be located in the City of Plano city limits and occupied as primary residence throughout affordability period.
  • Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays.
  • Property must be located in the City of Plano city limits. First-time homebuyer required (no ownership in past 3 years; veteran exception). Household income within 60-80% AMI tiers for Dallas-Fort Worth-Arlington MSA. Mandatory 8-hour HUD-approved homebuyer education class. Minimum $1,000 borrower contribution. 620 FICO (govt loans) / 700 FICO (conventional) minimum. Property must be a single-family detached, condominium, or townhouse used as primary residence. 30-year fixed-rate first mortgage required.

The program excludes

  • Manufactured homes
  • Purchases above the $418,000 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

First Time Homebuyers Assistance and Educational Program (FTHB) - HOME limits household income to 80% of the area median income, which varies by county and household size.

  • 60-80% AMI for Dallas-Fort Worth-Arlington MSA per HUD; 1-person 60% AMI $46,380 / 1-person 80% AMI $61,800 / 8-person 80% AMI $116,500 (2025 limits). Tiered assistance amount by income tier.
  • The limit applies to total household income, not only the borrower&rsquo;s.
  • 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 Homebuyers Assistance and Educational Program (FTHB) - HOME caps the purchase price at $418,000.

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

Is there eligibility for specific groups?

First Time Homebuyers Assistance and Educational Program (FTHB) - HOME 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 Homebuyers Assistance and Educational Program (FTHB) - HOME serves buyers purchasing in Plano, Texas.

How do you apply?

Applications for First Time Homebuyers Assistance and Educational Program (FTHB) - HOME go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved 8-hour homebuyer education required. Local providers include Frameworks CDC, TSAHC network, and other HUD-approved counseling agencies in Collin County and DFW MSA..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Reserved by participating lender through City of Plano Community Services. Funds available on first-come, first-served basis subject to annual HUD HOME allocation., and are subject to availability.

  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.

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First Time Homebuyers Assistance and Educational Program (FTHB) - HOME, explained

A short, free course on First Time Homebuyers Assistance and Educational Program (FTHB) - HOME: what it is, who it is for, how it is forgiven, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

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