What can a first-time homebuyer get?

First-time buyers often have more options than they expect. See the benefits worth asking about and what counts as a first-time buyer.

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What counts as a first-time buyer

Each program sets its own definition. A common one is that you have not owned a home in the past three years. Some programs make exceptions, for example for veterans or buyers in targeted areas, so ask the program rather than assume.

The usual benefits

Loans that allow a lower down payment.
Down payment and closing cost assistance.
Homebuyer education courses that open doors to assistance.
A mortgage credit certificate, where a local agency offers one.

Next steps

Questions about this tool

Do I need to be young to be a first-time buyer?

No. First-time status depends on whether and when you owned a home, not your age.

Is a homebuyer course required?

Some assistance programs require one. Ask the program, and ask whether a free course is accepted.

What is a mortgage credit certificate?

A certificate some housing agencies issue that turns part of the mortgage interest into a tax credit. Availability varies, and a tax professional can explain how it would apply to you.

For lenders and counselors

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Not legal, tax or financial advice

These tools give general estimates from the numbers you enter. They do not replace advice from a Texas attorney, a CPA or a licensed lender. Captain Saves A Home buys houses, so we have an interest in a sale, and we will tell you honestly when another option fits better.