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The main focus of the company has always been great personal service and attention to detail. We differentiate ourselves from other moving companies for the following reasons:
We are an independently owned moving company based out of McAllen, Texas. In addition to being a full-service moving company serving local and statewide moves, Chapa’s Moving Service offers packaging, loading, and unloading for our clients who prefer to move themselves.
Buying a home is one of life’s biggest milestones. But if you’re a first time home buyer in San Antonio, the process can feel overwhelming. Between saving for a down payment, budgeting for closing cost assistance, and navigating the details of a mortgage loan, the costs of buying a home in San Antonio can add up quickly. Fortunately, there are a variety of first time home buyer programs in San Antonio designed to make homeownership more accessible and affordable.
In most cases, an eligible first time homebuyer is defined as someone who hasn’t owned a home within the last three years. If that’s you, then you may qualify for financial support through programs that provide low-interest home loans, grants to cover additional costs, or even forgivable loans to help with your down payment. Some programs also offer closing cost assistance, reducing the upfront expenses that can otherwise be a hurdle.
These resources aren’t just limited to the City of San Antonio, either. Many are available throughout Bexar County, giving buyers a wide range of options. Whether you’re moving to San Antonio for the first time or you’ve been renting in the area and are ready to buy, following this guide and working with an experienced real estate agent can help you identify which programs you qualify for and how to take advantage of them.
First Time Home Buyer Tax Credits & Down Payment Assistance in San Antonio
If you’re a first time home buyer in San Antonio, then you might want to start with down payment assistance or explore tax credits. First time homebuyers often seek help with down payment assistance to cover the initial expenses of buying a home. Here are a few options for down payment assistance San Antonio homeowners can count on.
As a first time home buyer in San Antonio Texas, you can take advantage of the Homeownership Incentive Programs (HIP). This home loan offers financial assistance to first time homebuyers who need help with their initial down payment.
This loan is offered by the City of San Antonio and comes in two forms: HIP 120 and HIP 80. HIP 120 lends between $1,000 and $15,000 as a 0% interest/no payments second loan. 25% of the loan will be perpetual, while 75% of the loan will be forgiven over a 10-year period. Home purchase price limits are $305,200 for an existing home and $325,800 for a new construction home.
To qualify for this loan, your household income needs to be below a certain limit. These limits are as follows:
Household
Income
1 Person
$81,150
2 People
$92,750
3 People
$104,350
4 People
$115,900
5 People
$125,200
For the HIP 80 loan, you’ll receive between $1,000 and $30,000 as a 0% interest/no payments second loan. 100% of the loan between $1,000 and $15,000 will be forgiven over a 5-year period, while 100% of the loan between $15,001 and $30,000 will be forgiven over a 10-year period. Home purchase limits are $263,000 for an existing home and $278,000 for a new-construction home.
To be eligible for this loan, your income needs to be below the following limits.
Household
Income
1 Person
$54,150
2 People
$61,850
3 People
$69,600
4 People
$77,300
5 People
$83,500
To qualify for this loan as a first time home buyer in San Antonio, you need to get pre approved for a mortgage loan through your lender and then take a homebuyer education class. You’ll also need to make a minimum deposit of $500 on the purchase contract.
First time buyers who work for the city can receive assistance from the Neighborhood & Housing Services Department. These are available to either City civilian employees or City uniformed firefighter and police employees. For this loan, you can receive anywhere from $20,000 to $40,000.
If you are a first time home buyer in San Antonio, you can apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). This reduces your federal income taxes every year by allowing you to get 15% of what you spent on mortgage interest back as a tax credit.
To qualify, you must meet certain income requirements, and the home must meet certain sale price restrictions.
The Neighborhood Housing Services of San Antonio provides up to $20,000 in down payment and closing cost assistance to eligible first-time home buyers in Bexar County. This comes in the form of a second mortgage and is paid back over time.
First Time Home Buyer Loans and Programs in San Antonio
If you are a first time home buyer in San Antonio Texas, and you already have the down payment and closing cost covered, then it’s time to check out first time home buyer programs in San Antonio.
Here are a few loans and programs you should know about as a San Antonio home buyer.
First time buyers who are teachers, firefighters, EMS personnel, police and correctional officers, and veterans can all qualify for the Homes for Texas Heroes Program. As a first time home buyer in San Antonio with one of these occupations, you can receive:
A 30-year fixed interest rate mortgage loan with several rates and loan options available.
Down payment assistance of 3% to 5% of the loan amount.
DPA provided as a grant or a 3-year deferred forgivable second loan.
If you are a first time home buyer in San Antonio with a low or moderate income, you may qualify for the Home Sweet Texas Home Loan Program. This program offers first time homebuyers the same benefits as the Homes for Texas Heroes Program.
To see if you qualify for a loan from this lender, take the online quiz.
My First Texas Home is for both first time homebuyers and veterans. As a first time home buyer in San Antonio, you can apply for this loan, which offers a 30-year low-interest mortgage rate with up to 5% of the 1st Lien Mortgage amount.
To qualify for this loan, you must have a minimum credit score of 620, be a first time home buyer in San Antonio, and meet income and property value limits.
Offered by the Federal Housing Administration, and FHA loan is a great option for first time homebuyers in San Antonio. This conventional loan requires you to meet a minimum credit score, and also a down payment, which can be as little as 3.5% with a 580 credit score.
A Veterans Affairs loan helps veterans, servicemembers, and eligible surviving spouses become homeowners. There is no down payment required, limited closing costs, and no need for Private Mortgage Insurance.
As a first time home buyer in San Antonio, you may want to check out your eligibility for a USDA loan. This requires that your primary residence be in a USDA-eligible rural area, and you’ll also need a minimum credit score of 640.
Yes, first time homebuyer programs can be very valuable, especially for a first time home buyer in San Antonio. These programs often provide financial relief through down payment or closing cost assistance, making it easier to afford a home. For many first time homebuyers, they reduce the upfront burden and open the door to homeownership sooner than expected.
What Is a First Time Home Buyers Program?
A first time home buyer program is designed to make purchasing a first home more affordable by offering benefits like down payment help, grants, or reduced interest rates. For a first time home buyer in San Antonio, these programs can ease the financial burden of buying. Many first time home buyer programs in San Antonio provide assistance with closing costs or special mortgage options to help new buyers achieve homeownership.
Who Is Considered a First Time Home Buyer in San Antonio?
To be considered a first time home buyer in San Antonio, you need to have not owned a home within the past 3 years.
Who Qualifies for Down Payment Assistance in San Antonio?
Most first time homebuyers in San Antonio qualify for down payment assistance if they meet income limits, credit requirements, and plan to live in the home as their primary residence.
What Programs are Available for First Time Home Buyers in San Antonio?
A first time home buyer in San Antonio can access programs like City Employee Homebuyer Assistance, Homes for Texas Heroes, and FHA loans.
Do I Have to Pay Back Down Payment Assistance in San Antonio?
It depends on the program. Some down payment assistance in San Antonio is structured as a forgivable grant if you stay in the home for a set time, while others are low-interest loans that must be repaid.
Moving to San Antonio? Give Chapa’s Moving Service a Call
As a first time home buyer in San Antonio, you have plenty of options. With the help of a real estate agent or financial professional, you can explore first time home buyer programs in San Antonio that will work best for your needs.
And once you’ve found your dream home, give Chapa’s Moving Service a call. Our team has been helping first time homebuyers get settled into their new homes for years, and we’re ready to help you next. From exploring the best San Antonio neighborhoods to navigating San Antonio moving costs, our team is here for you.
Give our San Antonio movers a call today to get started with a free quote.
Chapa's Moving Service
We are an independently owned moving company based out of McAllen, Texas. In addition to being a full-service moving company serving local and statewide moves, Chapa’s Moving Service offers packaging, loading, and unloading for our clients who prefer to move themselves.
