NEXA Mortgage
TurkMortgages.com · Ethan Morgan NMLS #2738407 · NEXA Mortgage LLC NMLS #1660690
📞 832-605-2616
← Back to all loan programs
🗺️ A Pathway, Not a Single Product

First-Time Buyer Guide

Buying your first home in Texas isn't one product — it's a pathway. The right route depends on your credit, income, and savings. This guide maps your options: low-down-payment loans, down payment assistance, and the tax credits that can stack on top.

3%-3.5%
Down Possible
580+
Credit Possible
Up to 5%
DPA Available
$2,000
MCC Tax Credit/yr

At a Glance · 2026

Min down (FHA)3.5% at 580+
Min down (Conv)3%
Down payment helpUp to 5% (TSAHC/TDHCA)
Tax creditMCC up to $2,000/yr
First-time def.No home owned 3 yrs
EducationShort course required
Income limitsApply to DPA/MCC
Cost to explore$0
Start Here

Your first home is a series of decisions

Most first-time buyers think the barrier is a 20% down payment. It usually isn't. Between low-down-payment loans (as little as 3–3.5% down) and Texas down payment assistance (up to 5% of your loan), many first-time buyers reach the closing table with far less cash than they expected. The job is choosing the right combination for your situation — and that's exactly what I help you do.

3-3.5%
Min Down
conv / FHA
580+
Credit Possible
FHA path
5%
DPA Help
of loan amount
$2,000
MCC / Year
tax credit

"First-time" is broader than you think

In most programs, "first-time buyer" simply means you haven't owned a primary residence in the past 3 years — and it's often waived for veterans. You may qualify even if you've owned before.

Your Loan Routes

Which path fits you?

FHA Loan →

3.5% down at 580+ credit. The most common first-time path, with flexible approval and gift funds allowed.

View FHA guide →

Conventional Loan →

As little as 3% down with cancelable PMI. Best for stronger credit (620+) and lower long-term cost.

View Conventional guide →
💡

Not sure which?

The right loan depends on your credit, how much you've saved, and your long-term plans. One call and I'll map the cheapest route for your numbers.

Cash-to-Close Estimator

See how little you might need

Rough estimate for illustration only. Closing costs assumed ~3% of price. Not an offer or approval.

DPA can cover down payment and closing costs.
Your Path to the Keys

From first call to closing

1
Free Consult
We review your credit, income, and savings — no hard pull to start.
2
Pick the Route
Choose the loan + assistance combo that costs you the least.
3
Pre-Approval
Get a real pre-approval so you can shop with confidence.
4
Education + Offer
Complete the short homebuyer course; make your offer.
5
Close
Assistance applied at closing — get your keys.
Frequently Asked Questions
Do I need 20% down?
Almost never as a first-time buyer. FHA allows 3.5% down, conventional as low as 3%, and Texas DPA can cover much of that — sometimes leaving very little out of pocket.
Am I a first-time buyer if I owned before?
Likely yes — most programs define it as not owning a primary residence in the past 3 years, and the rule is often waived for veterans.
What credit score do I need?
FHA can go as low as 580 (sometimes 500 with more down). Conventional typically wants 620+. Higher scores get better pricing.
Can I combine down payment help with a tax credit?
Yes. You can pair down payment assistance (TSAHC/TDHCA) with an MCC for an annual federal tax credit on top.
Where do I start?
With a quick, no-obligation call. I'll map your cheapest route and tell you exactly what to do next.

Ready to Buy Your First Home?

Let's map your cheapest path to the keys — loan, down payment help, and tax credit, combined for your situation. No cost, no obligation. English & Turkish.

📞 Call 832-605-2616 ✉ emorgan@nexalending.com
Ethan Morgan · NMLS #2738407 · Loan Officer · NEXA Mortgage LLC · NMLS #1660690 · Licensed in Texas. This is not a commitment to lend or an offer to extend credit. All loans and assistance subject to credit approval, income, and property qualification. Down payment assistance and MCC programs have county income/purchase-price limits and eligibility requirements; you cannot apply directly to TSAHC or TDHCA — assistance is originated through an approved participating lender. Program details, loan limits, and rates shown are for 2026 and subject to change. Calculator results are estimates for illustration only, not an offer or approval. Equal Housing Opportunity.