Income-eligible first-time homebuyers can access financial assistance to help make homeownership possible in Austin, Texas.
Verify Your Austin Down Payment Assistance Eligibility
The Austin Down Payment Assistance Program provides eligible first-time homebuyers with funding for down payments and closing costs.
Homebuyers must complete homebuyer education classes to qualify. This program is part of the City of Austin's commitment to affordable homeownership opportunities.
The program is designed to help reduce upfront costs and make homeownership more accessible for first-time homebuyers in Austin, Texas.
Down Payment Assistance: Provides up to $40,000 to lower your initial home purchase cost.
Closing Costs: Covers essential closing fees and prepaid expenses tied to buying your home.
Homebuyer Education Support: Offers resources and required classes to help you navigate the home-buying process with confidence.
Affordable Financing Options: Designed to support low-to-moderate income buyers with competitive financing solutions.
To qualify for Austin’s Down Payment Assistance Program, applicants must meet the following criteria:
First-Time Homebuyer: Must be a first-time buyer or have not owned a home in the last three years.
Displaced or Divorced Buyers: Qualifies if you’ve been displaced or gone through a divorce.
Property Type: Must be purchasing a single-family home or condominium within Austin's Full Purpose city limits.
Income Limits: Household income must be at or below 80% of the Median Family Income (MFI) based on family size.
Homebuyer Education: Completion of a homebuyer education course is required prior to receiving assistance.
Follow these steps to get started with the Austin Down Payment Assistance Program:
Verify Eligibility Online Today: Check if you meet income and other program requirements.
Confirm Property Eligibility: Ensure the property is within Austin City Limits.
Complete Homebuyer Education Course: Enroll in a Homebuyer Education Course and obtain your Certificate of Completion.
Get Pre-Approved by a Participating Lender: Apply for a mortgage loan with one of our approved lenders.
Claim Your Down Payment Assistance: Once approved, submit your documents to claim up to $40,000 in assistance.
Yes, completion of a homebuyer education course is required before accessing assistance. This ensures buyers understand each step of the home-buying process.
You can verify if your potential property is in Austin's Full Purpose city limits by visiting the City of Austin Jurisdictions Web Map.
If you haven’t owned a home in the last three years, you may still qualify. Exceptions may also apply for those who are displaced or divorced.
The program covers down payment and closing costs, including prepaid expenses tied to the home purchase process.
Eligibility is based on specific income limits, but other programs may be available for those who slightly exceed the limits. Contact us for personalized guidance on the best options for you.
With our team’s extensive experience in Austin's real estate market, we make the home-buying process smoother and more accessible by offering:
Our experts bring years of experience in residential financing, giving you the guidance and confidence needed for one of life’s biggest investments.
We've helped thousands of homebuyers achieve their homeownership dreams by connecting them with beneficial programs like this.
Our team knows Austin’s real estate landscape inside out, ensuring you get the best advice on neighborhoods, schools, and more.
From pre-qualification to move-in day, our team supports you every step of the way, providing personalized assistance and expert resources to help you succeed as a homeowner.
