City of San Marcos First Time Homebuyer Program
Down Payment Assistance
The San Marcos First Time Homebuyer Programs provides loans to assist borrowers with their down payment and closing costs. Funds received by the borrower through the program may be used to pay 100% of reasonable closing costs and 50% of the down payment required by the lender. There is no set household income limit.
In order to qualify, borrower must:
- Be a first time homebuyer, or have not owned a home in the past three years
- Be able to acquire a primary home loan from their selected lender and have liquid assets that do not exceed $5,000 (excluding funds to be invested in the purchase of the home)
- Be a citizen or legal residents of the U.S.
- Demonstrate good credit and show that total debt is not too large compared to income
- Invest at least $800 in the purchase of the home
- Owner occupancy is required
If you have any additional questions regarding home mortgages, please contact a mortgage expert by filling out the form on the right or calling (512) 524-8077. You can also email Team@CandyBuzan.com.