Down Payment Assistance

Down Payment Assistance with 10th Mortgage Lending

Worried about coming up with a down payment? 10th Mortgage Lending can help you access programs that make homeownership in Texas more affordable.

Why Choose Down Payment Assistance?

Many buyers—especially first-time homeowners—find the biggest hurdle is saving for a down payment. Down Payment Assistance (DPA) programs are designed to make buying a home easier and more affordable. Here’s how they can help you:

• Lower Upfront Costs: DPA programs provide grants or low-interest loans to cover part (or sometimes all) of your down payment. At 10th Mortgage Lending, we’ll help you find the programs you qualify for and explain exactly how much assistance you can receive.

• State & Local Programs Available: In Texas, there are multiple programs available for first-time buyers, veterans, teachers, and other qualifying groups. Your loan officer will review all the options with you and match you with the program that saves you the most money.

• Improves Loan Approval Chances: With a larger down payment, you may qualify for a better loan program, lower interest rate, and smaller monthly payment. We’ll run the numbers with and without assistance so you can clearly see the difference it makes for your budget.

• Works With Popular Loan Types: Many DPA programs can be combined with FHA, VA, or Conventional loans, making them flexible for different situations. Your 10th Mortgage Lending loan officer will show you how to pair assistance with the right mortgage for your needs.
  

Down Payment Assistance Basics

Here’s what you should know about how these programs usually work:

• Eligibility Requirements: Most programs are income-based and may have limits depending on your household size and the county where you’re buying. We’ll check your income, location, and credit to see which programs you qualify for—without you having to do all the research yourself.

• First-Time Buyer Definition: Many programs consider you a “first-time buyer” even if you’ve owned a home before, as long as you haven’t had one in the past 3 years. Your certified 10th Mortgage Lending loan officer will clarify whether you qualify under these guidelines and explain your options clearly.

• Types of Assistance: Some programs offer grants (which don’t need to be repaid), while others offer forgivable or deferred loans that may only need repayment if you sell or refinance early. We’ll explain the pros and cons of each type so you know exactly what you’re signing up for.

• Credit & Loan Requirements: Most programs require a minimum credit score (often around 620) and approval for a qualifying mortgage like FHA, VA, or Conventional. We’ll guide you through the loan approval process and make sure your application meets both lender and DPA requirements.
  

How 10th Mortgage Helps You

Many buyers—especially first-time homeowners—find the biggest hurdle is saving for a down payment. Down Payment Assistance (DPA) programs are designed to make buying a home easier and more affordable. Here’s how they can help you:

• Book an Appointment to Speak With a Certified Loan Officer: We’ll go over your goals and financial situation together including reviewing any credit, debts, and income information you may have. We’ll also go over your mortgage options and answer any questions you may have.

• Check Program Eligibility: We’ll research state, local, and even national mortgage loan programs for you and confirm which ones you qualify for and how much help you can get. 



• Pair the Assistance With Your Loan: We’ll match the DPA program with the best loan type for your situation. You’ll see side-by-side comparisons of your payments both with, and without, assistance so you can have a better idea of what you’ll pay.

• Guide You to Closing: We’ll handle the necessary paperwork with both the lender and down payment assistance program so you’ll know exactly what to expect when it’s finally time to close on your home.