First Time Home Buyers Program El Paso

* The Home Purchase Assistance Program is on a first-come, first-served basis, and is subject to credit qualification, income criteria and periods of affordability. The program is part of an NSPII grant from the United States Department of Housing and Urban Development.

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First Time Home Buyer Guide. Being a El Paso, TX first time buyer can be intimidating and costly. However, there are many programs available to first time home buyers in El Paso, TX that can help in producing a down payment and closing costs. In most cases, lenders want a 3.5% down payment of the cost of the home.

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El Paso County, CO – First Time Home Buyer. It depends on the type of loan you want. USDA and VA loans often will not require any down payment. FHA loans require a 3.5% down payment, which if you get down payment assistance, only .5% is required. Conventional loans typically require either 3% or 5%.

The Turnkey Mortgage Origination Program offers low- to moderate- income homebuyers in El Paso County a 30-year, fixed rate mortgage that comes with a down payment assistance grant of 4 percent of the mortgage amount.

El Paso is among the top cities in the country for first-time home buyers according to a recent article on financial website WalletHub. The article lists El Paso as the fourth best large city, and 28 th overall city for first-time home buyers.

El Paso County, CO – First Time Home Buyer Programs – USA. – El Paso County, CO – First Time Home Buyer Loans There are 5 types of first time home buyer loans. You may select different loan terms, such as a fixed rate or adjustable rate mortgage, and the number of years to repay the loan (such as a 30 year fixed rate mortgage).