Homebuyer education classes inform first-time buyers on the following topics:
- Money management
- Understanding credit
- How to secure a mortgage loan
- How to shop for a home
Upon completing the program, you will receive an official Certificate of Completion.
Non-profit Homebuyer Education partners:
- Frameworks Community Development Corporation (Web); 512-385-1500
- Business & Community Lenders (BCL) of Texas (Web); 512-912-9884
These organizations provide a homebuyer education course (with a HUD-approved curriculum), online classes, and homeownership counseling. The cost of the homebuyer education course is $99. Additionally, you must purchase the course handbook Neighbor Works America: Realizing the American Dream.
Down Payment Assistance
Income-eligible first-time homebuyers may qualify for down payment assistance. You will have to complete homebuyer education classes to learn more about the home buying process before you're eligible for assistance.
What does the Down Payment Assistance Program cover?
The program covers down payment and closing costs, including pre-paid expenses associated with home buying. Homebuyers may qualify for up to $40,000 in assistance. Note: Sales price of the home cannot exceed $380,000.
- Who is eligible?
You may qualify for Austin's Down Payment Assistance Program if you:
- Are a first-time homebuyer
- Have not owned a home in the last three years
- Have been displaced or divorced
- Buying a single-family home or condominium in Austin's Full Purpose city limits. Check the City of Austin Jurisdictions Web Map
- Make a low-income, as defined as at or below 80% Median Family Income (MFI) (see table below)
- What is needed to apply?
You will first need to confirm that the property you seek to purchase is within Austin City Limits. Check this map (web) to verify the property's location.
Potential homebuyers will need to complete a Home Buyer Education Course (details above) and obtain an official Certificate of Completion.
Additionally, you must be approved for a mortgage loan from one of our participating lenders--see table below.
DPA Participating Lender List FY '20-'22 Mortgage Company Loan Officer/NMLS# Phone Additional Languages CMG Michael Harrell - #276766 512-657-8284 email@example.com First Centennial Mortgage K. Danielle Norris - #221829 512-818-4811 firstname.lastname@example.org Guild Mortgage Dianne Acuna - #219210 512-699-3056 email@example.com Priority Home Mortgage Geoff Potts - #275708 512-527-0500 gpotts@PriorityHomeMtg.com Spirit of Texas Bank/Guardian Mortgage Jeremy Scott Riley 210-442-6113 firstname.lastname@example.org Sunflower Bank N.A. Jed Anantasomboon 972-889-0435 JedA@gmc-inc.com University Federal Credit Union Rosalinda Niño-Reyes - #1065746 832-340-2506 email@example.com
Your loan officer will help you fill out and submit the Down Payment Assistance Application (PDF).
Applicants will need to provide the following documentation items:
- Social Security card
- Picture identification: Texas Driver's License, Texas Permanent ID card, or passport
- Permanent Residency Card (if applicable)
- Verification of income:
- Last 2 consecutive months paycheck stubs from all household members above 18 years old
- Most recent 2 years of W-2 forms or 1099's
- If self-employed, last quarter's Profit & Loss Statement and 2 years of tax returns
- Verification of other income
- Most recent 6 months of checking account statements and 6 months of savings for the accounts of all household members
- Verification of assets
Once you have made sure that you have all documentation items necessary to apply, your registered trained loan officers can assist in submitting your Down Payment Assistance Application (PDF).
- Down Payment Assistance Loan Officer Training
To register as an HPD certified participating lender (PDF), loan officers must attend a Housing & Planning training. The Future Down Payment Assistance Lender training can be provided upon request to groups of five or more interested parties. For more information call 512-974-3100 or email HPD@austintexas.gov.