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July 28, 2025•2 min read

🏡 Down Payment Assistance in Katy, TX – What First-Time Buyers Need to Know 💰

💸 How to Qualify for Katy Down Payment Help – Homebuyer Programs Explained 🏠

🏡 Down Payment Assistance Programs Available in Katy, TX

Buying a home in Katy, Texas is a dream for many families—and thanks to several down payment assistance (DPA) programs, it’s more attainable than ever. Whether you're a first-time homebuyer, a teacher, or a healthcare worker, there are options that can reduce your upfront costs and help you secure your dream home sooner.

💡 Why Down Payment Assistance Matters

For most buyers, saving for a down payment is the biggest hurdle to homeownership. Even with strong credit and income, coming up with 3%–20% of the purchase price can be difficult. That’s where DPA programs come in—they offer grants, forgivable loans, or deferred payment options to help reduce the amount you need upfront.

🏘️ Types of Down Payment Assistance Programs in Katy

1. Texas State Affordable Housing Corporation (TSAHC)

o Available to first-time buyers and repeat buyers in Katy.

o Offers 3%, 4%, or 5% assistance in the form of a grant or deferred second lien.

o Special programs for teachers, police, firefighters, veterans, and healthcare workers.

2. Homes for Texas Heroes

o Tailored for professionals who serve the community.

o Offers lower interest rates and DPA up to 5%.

3. Katy-Specific Programs via SETH (Southeast Texas Housing)

o The 5 Star Texas Advantage Program is available in Katy.

o Assistance comes in the form of a forgivable second lien.

o Can be combined with FHA, VA, or USDA loans.

4. Local Nonprofit & Employer Assistance

o Some major employers in Katy (including healthcare systems and school districts) offer housing assistance perks.

o Nonprofits and churches may offer grant opportunities for members or neighborhood development.

✅ Who Qualifies?

Eligibility varies, but most programs require:

· A minimum credit score (typically 620+)

· Completion of a homebuyer education course

· Maximum income and purchase price limits (based on county guidelines)

· Proof of U.S. residency and intent to occupy the home

🔍 How to Apply

Start by getting pre-approved with a mortgage broker who can help you navigate the options. At Medallion Mortgage, we’ll help match you with the right DPA program based on your goals, job, and financial profile.

🎯 Final Thoughts

If you’re house hunting in Katy and worried about the down payment—don’t be. With the right assistance program, owning a home is more achievable than ever. Let us help you open the door to your future.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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