6 Programs to Help Active Military Buy a Home in Cross Creek West
Buying a home is a big milestone, but for active military members, it can feel a bit trickier. Relocations, deployments, and tight budgets can make finding and securing a home challenging. Thankfully, there are programs specifically designed to help those who serve our country achieve homeownership. And if you’re thinking about purchasing a home in Cross Creek West, you’re in luck—there are some fantastic resources available.
And there’s more good news! Because you “Lead the Way” every day, we’ve got a special incentive just for you. If you’re active military (or a first responder, LCISD employee, or real estate agent), you’ll get a $5,000 gift. It’s just our way of saying thank you for your service. (Note that this special incentive is open to the first 40 active military, first responders, LCISD staff members, and real estate agents who purchase a new home in our community.)
Here is a sampling of programs to help military members purchase a home:
The VA Home Loan is one of the best known and most impactful options for active military members and veterans. Backed by the U.S. Department of Veterans Affairs, this program is designed to make homeownership more accessible by eliminating many of the upfront financial barriers.
Eligibility is determined by your service status:
- Active duty during wartime: 90 consecutive days of service
- Active duty during peacetime: 181 consecutive days of service
- National Guard or Reserves: Six years of service, or 90 days of active duty under Title 32 orders (with at least 30 consecutive days served)
- Veterans: Completion of required service time with an honorable or general (under honorable conditions) discharge
- Surviving spouses: Unmarried spouses of service members who died in the line of duty or due to a service-related injury may qualify
Why you’ll love it:
- No down payment
- Competitive interest rates
- No PMI required
- Lifetime benefit
Homes for Texas Heroes is a program available through the Texas State Affordable Housing Corporation that helps active military personnel and veterans with home loans and down payment assistance.
To qualify, you’ll need to meet the following criteria:
- Be currently serving on active duty and assigned to a military base or facility in Texas, having officially designated Texas as your home of residence.
- Be a veteran of the United States Army, Navy, Air Force, Coast Guard, Public Health Service, Marine Corps, or Texas National Guard.
Why you’ll love it:
- 30-year fixed-rate mortgage loan
- Financial assistance totaling 3-5 percent of the loan amount to use for the down payment
- Funds can be accepted as a grant that doesn’t have to be repaid or as a forgivable second lien loan, which only must be repaid if the home is sold or refinanced within three years.
- First-time home buyers who receive funding from the Homes for Texas Heroes program may also apply for a Mortgage Credit Certificate credit that allows you to get 15 percent of that year’s mortgage interest back as a tax credit, reducing the amount of federal income taxes you pay every year.
You can take a quiz to find out if you’re eligible for assistance and find a loan officer to help you apply for assistance. You don’t have to be a first-time home buyer to be eligible.
VLB Veterans Housing Assistance Program (VHAP)
The VLB Veterans Housing Assistance Program (VHAP) is a Texas-specific option that offers low-interest, fixed-rate loans to eligible military members and veterans. It’s an excellent choice for those looking to save money over time, while minimizing upfront costs.
To qualify, you’ll need to meet the following criteria:
- Be a Texas resident aged 18 or older
- Be one of the following:
- An active-duty military member
- A member of the Texas National Guard
- A reserve component service member with 20 qualifying years for retirement
- A veteran who served at least 90 days on active duty and was honorably discharged
- A surviving spouse of a veteran listed as missing in action or whose death was service-connected
- Ensure the home meets program requirements, such as being your primary residence
Homes must meet the following requirements:
- Home must be the veteran or military member's primary residence in Texas
- Home must be a single-family attached or detached home, townhome or condominium
- Duplexes or other multi-family units must have been constructed at least five years prior to the closing date of the loan
- New homes must have either ENERGY STAR certification, HERS Index score of 75 or less, or Energy Rating Index of 75 or less
- Home must remain the veteran or military member's primary residence for at least three years, and the veteran or military member borrower must occupy the home within 60 days after loan closing
Why you’ll love it:
- Borrow up to $832,750 with terms up to 30 years
- Discounted rates for veterans with a service-connected disability rating of 30 percent or higher
- Little or no down payment required
Home Sweet Texas Home Loan Program
This program is designed to help low- and moderate-income Texans, including active military members, purchase homes with financial support.
To qualify, you must meet the following criteria:
- A minimum credit score of 620
- Meet income limits
- Completion of an approved homebuyer education course
Why you’ll love it:
- Up to 5 percent of the loan amount for down payment assistance
- Available for both first-time and repeat home buyers
- Can be combined with a Mortgage Credit Certificate for additional savings
Take the eligibility quiz online and find an approved lender nearby to walk you through applying for assistance.
The Southeast Texas Housing Finance Corporation’s SETH 5 STAR Program helps buyers across the state secure down payment assistance. The flexibility of this program makes it a popular option for active military members and other home buyers in Texas.
To qualify, you must meet the following criteria:
- Meet income limits
- Have at least a 640 credit score
- Complete a home buyer education course
Why you’ll love it:
- Up to 5 percent in down payment assistance
- Forgiveness after three years, as long as you stay in the home
- Available as a deferred-payment loan if forgiveness terms aren’t met
The SETH 5 STAR Program is available statewide, but the home must not be located in Travis County or the cities of El Paso, Grand Prairie or McKinney.
If you’re member of the military who hasn’t owned a home in the last three years or who is a veteran, you may also be eligible for down payment assistance through this program of the Texas Department of Housing and Community Affairs.
To qualify, you must meet the following criteria:
- Be a veteran or a first-time home buyer
- Have a minimum credit score of 620
- Meet income and property value limits
- Have been approved for a mortgage with a qualifying lender
Why you’ll love it:
- 30-year, low-interest rate mortgage
- Assistance of up to 5 percent of the loan amount to be used for the down payment.
- Funds can be accepted as a loan that’s forgiven after three years or as a 30-year, 0 percent interest second lien that’s paid when the home is sold.
Find Your New Home Today
Start your search for a new home in Cross Creek West by Johnson Development and thank you for your service!