My First Texas Home

My First Texas Home is a deferred second loan for homebuyers in Statewide, Texas. My First Texas Home is TDHCA's flagship Mortgage Revenue Bond first-time-homebuyer program. It pairs a 30-year fixed-rate first mortgage with up to 5% DPA as a 0% second lien. Statewide availability with FTHB requirement waived in IRS target areas. Bond funding generally allows competitive rates relative to non-bond TBA pricing. TDHCA's My First Texas Home is a tax-exempt mortgage revenue bond program providing a competitive 30-year fixed-rate first mortgage (FHA, VA, USDA, or HFA-preferred conventional) paired with down payment and closing-cost assistance equal to up to 5% of the loan amount as a 0% interest second lien (deferred / forgivable per program guidance). Available statewide for first-time homebuyers (no homeownership in the prior 3 years) — the FTHB requirement is waived in IRS-designated target areas. Can be combined with the Texas Mortgage Credit Certificate (when offered) for additional federal tax savings. Funding comes from Tax-exempt Mortgage Revenue Bonds issued by TDHCA.

My First Texas Home is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Due upon sale, refinance, payoff of first mortgage, or non-occupancy as primary residence. 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.

My First Texas Home is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Repeat homebuyers eligible if property is in IRS-designated target area; otherwise borrower must not have owned a principal residence in the previous 3 years. On credit, the program states: 620 minimum FICO for Government (FHA/VA/USDA) and Conventional loans. A homebuyer education course is required, through HUD-approved or TDHCA-approved homebuyer education provider required (Texas Homebuyer U online course is commonly used). Residency requirement: Property must be in Texas and occupied as primary residence. Citizenship or immigration status: U.S. citizen or qualified non-citizen per agency loan-product guidelines. First-time homebuyer required (no ownership interest in a principal residence in the prior 3 years); waived in IRS-designated target areas. Borrower must occupy as primary residence. Income limits and purchase price limits set per IRS Mortgage Revenue Bond rules and vary by county / MSA and household size (1-2 person vs 3+). Federal recapture tax may apply if home is sold within 9 years and income has increased significantly. Homebuyer education required.

My First Texas Home limits household income to $187,320. The limit applies to total household income, not only the borrower’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.

My First Texas Home caps the purchase price at $928,431. Eligible property types include Single-family detached, townhomes, condos meeting agency approval, eligible PUDs, eligible manufactured homes (per IRS bond rules generally limited to 1-unit owner-occupied). New construction is eligible. Manufactured homes are eligible.

My First Texas Home names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native homebuyers, educators, law enforcement officers, firefighters, healthcare workers, and homebuyers with disabilities 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.

My First Texas Home serves homebuyers purchasing in Statewide, Texas. The program targets specific areas: IRS-designated qualified census tracts and areas of chronic economic distress in Texas. In target areas, FTHB requirement is waived and higher income/sales price limits apply. Verify property's status via TDHCA's targeted area lookup.

Applications for My First Texas Home go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Lenders reserve via TDHCA's online lender portal on first-come, first-served basis. 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.