You need less than you think. Really.
The #1 myth that keeps renters renting: "I need 20% down." You don't. First-time buyers have more low-down-payment paths than anyone — and a broker's job is finding the one that prices best for your exact file.
You're readier than you think if…
- You've rented on time for years
Steady housing payments are exactly what underwriting wants to see. - You have some savings
Between low-down programs, gift funds, seller-paid costs, and assistance, the cash bar is lower than the myth. - Your credit is mid-600s or better
And if it's not, we'll tell you the two or three moves that raise it fastest. - You're tired of raising your landlord's equity
A fixed payment plus the homestead exemption beats next year's rent increase.
Your four paths in
- Conventional 3% down
First-time buyer programs (like HomeReady/Home Possible) with reduced mortgage insurance at moderate incomes. - FHA at 3.5%
The forgiving option for rebuilding credit or tighter debt ratios. Details → - VA at $0 down
Served? This is the best mortgage in America. Start here → - USDA at $0 down
Eligible areas cover more of Texas than people expect, including metro outskirts.
Do this first (it's free)
Get pre-approved before you fall in love with a house. It costs nothing, doesn't pull credit to start, tells you your real budget, and makes your offer credible. Then read the Texas homebuying guide — 15 minutes that will save you thousands.
FAQ
How much do I actually need saved?
Down payment (3–3.5% on most first-timer paths) plus closing costs (2–4%), minus whatever sellers, gifts, or assistance programs cover. On a $300k home that can realistically mean $9–15k out of pocket — sometimes less.
What about down-payment assistance?
Texas programs (TSAHC, TDHCA, and local ones) offer grants or forgivable seconds to eligible buyers. They come and go, so we check what's live when you apply rather than promise a list.
Will checking my rate hurt my credit?
No — our quote uses the credit range you tell us. A credit report is only pulled when you move forward, and you'll know before it happens.
How long does buying take, start to keys?
Shopping time is yours; once you're under contract, our average close is 16 days. Pre-approval takes about a day.
Find out what you qualify for. Free.
Sixty seconds to a real number, and a plan if the number needs work.