Down Payment Assistance Program

The Travis County Housing Finance Corporation is pleased to offer the Hill Country Home Down Payment Assistance (DPA) Program! The program is designed to help homebuyers obtain FHA, VA, USDA-RD or Freddie Mac HFA Advantage loan financing to purchase a home anywhere in Travis County, including the City of Austin. A lack of funds for the down payment is often a significant obstacle to homeownership. In an effort to remove this barrier, low to moderate income homebuyers that qualify for the Hill Country Home DPA program will receive a competitive 30-year fixed rate loan, with assistance of either 4%, 5% or 6% of the initial principal balance of the loan amount to use for down payment or closing cost assistance. The assistance is in the form of a 0% interest, 10-year forgivable second mortgage loan. In each case, a program fee may be charged by the participating lender, so net down payment assistance can vary depending on qualification of the borrower and the loan type chosen. For more information on this, please contact a participating lender.

View a brochure summarizing program criteria.

Financing is available for new or existing homes, and can include single-family homes, condominiums, or townhomes. Manufactured homes are not permitted to participate in the program at this time. Unlike many other DPA programs, the Hill Country Home DPA Program is not restricted to first-time homebuyers, though buyers must occupy the home as their principal residence. The Program offers interest rates on the First Mortgage Loan that are competitive with current market rates. It is the borrower’s decision and choice to receive either the First Mortgage Loan under the Hill Country Home DPA Program with the net assistance of 4.5%, 3.5% or 2.5% in the form of a 0% interest, 10-year forgivable Second Mortgage (depending on qualifying factors), rather than to receive another 30-year fixed rate mortgage loan without DPA at a lower rate from any lender chosen by the borrower. The interest rates for the program can vary daily based on market conditions – ask your lender for the current rates.

See below for more information on eligibility criteria.

Homebuyer Eligibility

  • Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.
  • Standard loan guidelines exist for qualification (i.e., adequate income, acceptable credit, and down payment requirement).
  • All first-time homebuyers must attend a HUD approved homebuyer education course and obtain a certificate of completion.
  • The program is not limited to first-time homebuyers!

Program Eligibility

  • Homebuyers may purchase a home anywhere in Travis County, including in the City of Austin.
  • Buyers must occupy the home as their principal residence, and there is no requirement on how long they must live in the home.
  • The program may only be used to purchase a home (i.e., no refinancing).

Income Limits for Eligible Borrowers

  • Maximum credit qualifying income may not exceed 140% of area median income, which is $134,260 currently.

Purchase Price Limit

  • Purchase price limit is determined by the lender based on the borrower's credit, income, debt-to-income ratio and other factors.
  • The purchase price limit for the program is $350,871.

Down Payment Assistance

Should you be interested in the Hill Country Home DPA program, please contact one of our many participating lenders in the program. The lenders do all screening and will determine if you meet the criteria and qualify for the program. The list of participating lenders is below.

  1. Eagle Home Mortgage, LLC (formerly UAMC)
  2. Cornerstone Home Lending
  3. Capstar Lending, LLC
  4. Sente Mortgage, Inc.
  5. Highlands Residential Mortgage, Ltd.
  6. AmeriPro Funding
  7. DHI Mortgage Company, Ltd.
  8. Academy Mortgage Corporation
  9. Certainty Home Loans LLC
  10. Mission Mortgage of Texas
  11. Willow Bend Mortgage
  12. Thrive Mortgage, LLC
  13. Security National Mortgage Company
  14. Service First Mortgage (SFMC)
  15. NTFN, Inc. d/b/a Premiere Nationwide Lending
  16. Pulte Mortgage, LLC
  17. Nations Reliable Lending, LLC
  18. Evolve Bank & Trust
  19. Ark-La-Tex Financial Services LLC dba Benchmark Mortgage
  20. PrimeLending, a Plains Capital Company
  21. Colonial Savings, F.A., dba Colonial National Mortgage
  22. Northstar Bank of Texas
  23. LLC, dba imortgage
  24. Hometrust Mortgage Company
  25. Castle & Cooke Mortgage, LLC
  26. Affiliated Bank Mortgage
  27. Republic State Mortgage Co.
  28. Gateway First Bank
  29. Open Mortgage, LLC
  30. American Financial Network, Inc.
  31. First Continental Mortgage, Ltd.
  32. Wallick & Volk
  33. Mortgage Financial Services
  34. American Southwest Mortgage Corporation
  35. Gardner Financial Services, Ltd
  36. Fairway Independent Mortgage Company
  37. The Federal Savings Bank
  38. Legacy Mortgage, LLC
  39. Great Plains National Bank
  40. Interlinc Mortgage Services, LLC
  41. Cross Country Mortgage, Inc.
  42. On Q Financial, Inc.
  43. Guild Mortgage Company
  44. SWBC Mortgage Corporation
  45. CLM Mortgage, LLC
  46. Pacific Union Financial, LLC
  47. Waterstone Mortgage Corporation
  48. Mid America Mortgage, Inc.
  49. Springboard CDFI
  50. American Financing Corporation
  51. First Centennial Mortgage Corporation
  52. Assurance Finance Group, LLC
  53. New Penn Financial, LLC
  54. Broker Solutions, Inc. dba New American Funding
  55. Hamilton Group Funding, Inc.
  56. BancorpSouth Bank

Homebuyer Assistance Resources

These are organizations or programs that our department recommends for people who are in need.