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In the great State of Texas, a first-time homebuyer is defined as any family or individual who hasn’t owned a home within the last three years? 

So, even if you previously owned a home – but have not owned one in the last three years – you are classified as a first-time buyer! 

In several circumstances, No.  But, this depends on the program selected.  There are down payment assistance grants that do not have to ever be repaid.  There are also mortgage credit certificates through many government programs, which is a mortgage interest tax credit that reduces the amount of federal income taxes you pay every year.

Please contact our preferred lender, Regina Henry, with CMG Financial.