This program provides down payment grants of up to 5% of the purchase price of a qualifying principal residence located within the city limits of El Paso Texas. The program funded 276 loans with over $1.3MM in down payment assistance. Strategic partnership with Freddie Mac has provided over $127,227 in additional down payment assistance to households at very low- and low-income earning levels.
This program is available in the City of El Paso, Texas
1-2 people $90,100
3+ people $103,615
To submit a program application, call approved Lenders. Please ask for the Welcome Home El Paso Downpayment program:
$25MM single family mortgage revenue bond program will provide 4% homebuyer GRANTS and a 6.20% 30 year fixed mortgage interest rate to low-to-moderate income earning households residing within the city limits of El Paso TX. (FHA/VA/USDA loans)
Property must be located within the city of El Paso, Texas
Targeted Areas: 1 or 2 persons - $91,600 3 or more - $105,340 Targeted Areas: 1 or 2 persons - $109,920 3 or more - $128,240
To submit a program application, call approved Lenders below. Downpayment Resource Team lists EPHFC Approved REALTORS and Loan Officers.
Ask for the Mi Casa Homebuyer GRANT program:
PARTICIPATING LENDERS:
$50MM Assignment of single-family mortgage revenue bond allocation to the state to originate under My First TX Home program. Funded 282 loans with 92% of families earning $80,000 or less within 1 year.
El Paso Housing Finance Corporation
PO Box 1648 El Paso TX 79949
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