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City of El Paso Offers Assistance to First-Time Homebuyers

The City of El Paso is offering assistance to qualifying El Paso residents wanting to purchase their first home.

The First-Time Homebuyer (FTHB) Program provides assistance to low-and-moderate income individuals in the form of Principal Reduction and/or Down Payment and Closing Cost Assistance.

Assistance is in the form of low interest loans, deferred payment loans, and/or deferred forgivable loans. Participants in the program conduct their own search for a home within the city limits of El Paso.

For homes purchased within City of El Paso identified Priority Housing Areas (see attached map), the program may provide up $45,000 in principal reduction and up to $5,000 in down payment and closing cost assistance.

For homes purchased within the city limits of El Paso, but not within a City of El Paso identified Priority Housing Area, the program may provide up to $25,000 in principal reduction and up to $5,000 in down payment and closing cost assistance.

To qualify for the First-Time Homebuyer program, individuals must meet the following eligibility criteria:

For example, a family of 4 may qualify for the program if their total annual household income is between $36,540 (60% AMI) and $48,700 (80% AMI). 

  • Applicant(s) must not have a title to any real property in or outside the United States.
  • Applicant(s) must not have owned a home during the last three years.
  • Applicant(s) must provide proof of residency within the city limits of El Paso.
  • Applicant(s) must complete a First-Time Homebuyer Counseling Course conducted by a HUD-approved Housing Counseling Agency prior to submitting an application. The two HUD-approved Housing Counseling Agencies in El Paso are GECU and Project BRAVO.

Applications for the First-Time Homebuyer program are being accepted through April 15, 2022. Assistance is limited and contingent upon availability of funds.

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