How to Buy a Home in Texas with Less Than 10% Down

A Practical Guide for First-Time Buyers in DFW

Dreaming of owning a home in the Dallas–Fort Worth area but worried about saving 20% down? You’re not alone.

Many buyers assume they need a large down payment, but the truth is homeownership in Texas is possible with much less — sometimes under 10%.

✅ FHA Loans: A Strong Starting Point

Minimum down payment: 3.5% (for many buyers)

FHA loans can offer:

• Flexible credit requirements
• Competitive interest rates
• Accessible entry points for first-time buyers

💰 Down Payment Assistance Programs in Texas

Programs such as My First Texas Home and local city initiatives may provide:

• Down payment grants
• Forgivable assistance after a set ownership period
• Reduced upfront costs

Note: These programs require qualification and the right strategy.

📌 Credit Score Requirements: What to Expect

• FHA: often around 580 (some flexibility may apply)
• Conventional: often 620+
• Higher scores: can improve your rate and affordability

📋 What You’ll Need Financially (Beyond the Down Payment)

• Closing costs: typically 2–5% of the purchase price
• Inspections and appraisal fees
• Moving expenses

Good news: In some DFW situations, sellers may contribute toward closing costs depending on negotiation strength.

⚠️ Common Mistakes to Avoid

• Overlooking assistance programs
• Skipping pre-approval
• Stretching your budget beyond comfort
• Waiting too long when the right home appears

Is Buying with Less Than 10% Down Right for You?

The right financing strategy depends on your income, credit profile, long-term goals, and the DFW market segment you’re targeting.

Schedule a consultation to review your options and create a customized roadmap toward homeownership in Texas.

Own The Block,
Ebony Vick, B.S., REALTOR®, SFR®
Landen Realty Group
Sponsored by CLO Dallas Realty
ebonyvick@landenrealtygroup.com
landenrealtygroup.com

Texas Real Estate Commission Information About Brokerage Services & Consumer Protection Notice available on the website listed above.