The Best Mortgage Assistance Programs in Texas

2 February 2018
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Getting the approval of a mortgage loan is known to be the very first step when it comes to purchasing a house. However, for people who have had credit problems in the past, income limitations or some other economic difficulties, obtaining a mortgage using the traditional methods can be very difficult and sometimes even impossible. It is here that the mortgage assistance programs come into play. There are a number of various programs in Texas to help people obtain a mortgage. It is only a matter of correctly figuring out the programs for which you qualify for and then let it help you get the process started.

seth 5 star


Seth 5 Star Texas Advantage Program

seth texas 5 star advantage free money to buy a home grant


The Seth 5 Star Texas Advantage Program offers assistance to eligible home buyers regarding their down payment and Closing Cost in the form of issuing a Grant. There are numerous different options for assistance available for the people to choose from. The borrowers can select the amount they need and the loan option which meets all their needs perfectly.

The maximum assistance which is provided by 5 Star Texas Advantage Program is the 6% Grant, which is supposed to be 6% of the total loan amount. Borrowers who use 5 Star Texas Advantage Program’s Freddie Mac/Conventional Mortgage Option meeting their Affordable Income Subsidy Limits might also be eligible for a further Grant of equal to 2% of the total loan amount.

For the assistance provided there is no recapture period or repayment. Furthermore, there is also no secondary lien on the property. The 5 Star Texas Advantage Program does not even have a ‘First Time Homebuyer’ requirement too. Home buyers should be income eligible and should be buying a house in one of the program areas. The home buyers using the mortgage loan will be required to fill the online SETH Homebuyer Education Class.

The mortgage rate for the 5 Star Texas Advantage Program can be published daily for the Lenders on the website. You can also visit the SETH Program Page. You are required to be an official Lender to offer this program to your customers. The 5 Star Texas Advantage Program is available for the entire State of Texas excluding the city limits of El Paso, Grand Prairie, and Travis County.

VA Home Loans
va home loan

Numerous veterans will be eligible for the VA assistance program, which is known to provide extremely low financing and offer various other programs to effectively help the novices build a new home or purchase one with very little or sometimes even no down payment. Even though the VA Loans are offered by the private lenders, a small portion of this loan is granted by the Veterans Administration. For the novices, this means that the lender will offer even better terms on the mortgage note, and those people who could not have accumulated enough cash to buy a house can now successfully obtain the financing option.

These are the following types of VA assistance programs which are available:

  1. Purchase Loans: These loans can be obtained when you want to build a home or purchase one. There is no private mortgage insurance or down payment which is required.
  2. Interest Rate Reduction Refinance Loan (IRRRL): this loan can be taken when one wants to refinance an already existing VA Home Loan.

Whether or not you are eligible for VA assistance depends on the military services, the credit score, income, in addition to ownership of a legal Certificate of Eligibility (COE).

MCC Program- The Texas Mortgage Credit Certificate Program


The MCC Program allows customers to lawfully claim a tax credit of approximately $2000 for some portion of the mortgage interest payments. This credit could be claimed each year for the entire lifetime of the loan and also helps o diminish the overall federal tax liability.

To qualify for the MCC Program, clients must:

  1. Agree on making this home the primary residence
  2. Qualify for the mortgage loan through a registered lender
  • Meet all the numerous income requirements
  1. Should not have owned a home for the last three years 


FHA Home Loans

fha home loan

This program is completely managed by the U.S. Department of Housing and Urban Development. The FHA Home Loans program has a comparatively more flexible debt to the income ration and a low minimum credit score. FHA Home Loans is the ideal resource for those purchasing a house for the very first house. Also, FHA Home Loans is the program which should be approached by those who have very fewer savings to move on with, those people who have a credit problem, or even those who just want to save the extra cash to revamp their home they are in the process of purchasing. The FHA Home Loans are offered by the private lenders and are completely insured by the Federal Housing Administration which enables the lenders to present a better deal to the clients which include:

  1. Minimized Down Payments: as low as up to 3.5% of the entire purchasing price
  2. Low to No Closing Costs along with the seller paid closing costs and the lender paid options

There is furthermore also an additional assistance for the first time house buyers.


All of the above-mentioned programs offer complete assistance to those buying houses for the first time or even for those looking for a way to save their money to revamp the house they are looking to move into. Ready to get started? CALL (855) 866-8339

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