What is a Down Payment on a House?
The down payment requirement is equal to a percentage of the cost of the property and can vary based on the type of loan you receive. For example, if a home costs $100,000 and a down payment of 5% is required, you must pay $5,000 at the time of purchase. Programs Offered: Homes for Texas Heroes Program
Home Sweet Texas Home Loan Program This program offers loans and down payment assistance to low and moderate-income families. |
Down Payment Assistance (DPA):
If you are eligible, TSAHC will provide you with a mortgage loan and funding to use for your down payment. You can choose to receive the down payment assistance as a grant (which does not have to be repaid) or a deferred forgivable second lien loan (which only has to be repaid if you sell or refinance within three years). If you’re eligible, you can essentially receive free money to help you buy a home. |
How Much Do You Have to Put Down on a House?
The amount of your down payment depends on a few things: income, your loan type, the amount of TSAHC assistance that you choose, the cost of the home, and how much you want to borrow. The larger your down payment, the smaller your monthly mortgage payment will be. |
Mortgage Credit Certificate (MCC)
An MCC reduces your federal income taxes every year by allowing you to get 20% of what you spent on mortgage interest back as a tax credit. Because the tax credit refunds a portion of your mortgage interest, it also effectively reduces your mortgage interest rate. |
Neighborhood Housing Services of San Antonio
847 Steves Ave, San Antonio, TX 78212 6:00pm-9:00pm August 22 & 23, 2023 September 19 & 20, 2023 October 24 & 25, 2023 November 14 & 15, 2023 Cost: $35 per household Register for You Preferred Date: Here and complete the Class Intake Form |
City of San Antonio @ Generations FCU 9:00am-5:00pm
6000 Northwest Loop 410, San Antonio, TX 78238 August 16, 2023 September 21, 2023 October 19, 2023 Cost: Free November 15, 2023 Max of 35 Attendees December 20, 2023 Sign-Up @ Email Below Email: [email protected] |