Down payment Assistance that may be available for qualifying borrowers:
The City of El Paso Home purchase programs:
- Up to $35,000 principal reduction assistance
- Up to $5,000 closing cost assistance
- El Paso Affordable Housing CUSO
- NSP funds
Up to $10,000 in TDHCA Housing Trust Funds—principal reduction & closing costs
- Up to $6,000 in Meadows Grant—principal reduction & closing cost
- Up to $37,000 in NSP2 – HUD Funds
Loan Programs—Program availability and rates will vary depending on availability of Community Seconds and secondary market costs.
Qualification criteria varies by program and by type of down payment assistance but generally borrower must:
- Be a first time homebuyer
- Attend an eight hour homebuyer workshop from a HUD approved housing counseling agency
- Receive pre-purchase counseling by HUD approved housing counseling agency
- Household income must fall within 50% to 120% of Area Medium Income as defined by HUD.
- Be credit worthy
- Have an ability to repay the mortgage loan
- Have stable employment
- Have a limited monthly debt payment
Do You Qualify? 
Pre-qualifications:
- Must reside in the City of El Paso
- Cannot own land or a house, nor owned a home during
the past three years
- Must have a steady source of income
- Must be U.S. citizen or legal resident
Income Requirements:
