Statewide and regional resources are available to help you become an Ameritex homeowner. Most cities receive and administer grants from federal programs designed to help buyers with a little-to-no down payment, first-time homebuyers, public servants, and more. The Department of Housing and Urban Development (HUD), the Texas Department of Housing and Community Affairs (TDHCA), and the US Department of Agriculture Rural Development (USDA) offers several programs including:
- Good Neighbor Next Door assistance for educators and first responders (HUD)
- Texas Homeownership Assistance programs by city (HUD)
- Loans for Veterans (Department of Veteran Affairs)
- My First Texas Home (TDHCA)
- Single Family Housing Guaranteed Loan Program in Texas (USDA)
You might find these definitions helpful while using the Home Affordability Calculator.
Annual Household Income - you and your co-buyer’s combined annual income before taxes (salary, wages, tips, commission, etc.)
Monthly Spending - This includes debt (car loans, student loans, credit cards, alimony paid, monthly medical bills, child support, etc.), recurring payments (utility bills, insurance, subscriptions, etc.), groceries, and savings that would not go towards your mortgage.
Down Payment - It’s typical to pay 20 percent of the home’s price as your down payment, although some mortgage loans require a smaller percentage. Your down payment reduces the total amount of your mortgage loan, so the more money you put down the lower monthly payments you will have.
Have additional questions about mortgage loans or are ready to get pre-approved? Contact Ameritex Homes® at (972) 440-5516.