Housing Finance Corporation
The El Paso Housing Finance Corporation (HFC) is an independent entity, created pursuant to the Housing Finance Corporation Act by the City Council as a non profit corporation and has been in existence since 1979. The statutory purpose of this type of corporation is to assist persons of low and moderate income to acquire and own decent, safe, sanitary, and affordable housing and to preserve and increase the tax base of local government.
Frequently Asked Questions
Buying a home can be affordable thanks to a partnership between the El Paso Housing Finance Corporation and local home mortgage lenders. Eligible home buyers in the El Paso program area have a chance to own a home of their own with down payment and/or closing cost assistance. Borrowers who meet specified income and purchase price limits may be able to receive assistance. See below for more details.
Homebuyer Downpayment Assistance Program
The way to buy a home using down payment and closing cost assistance from the El Paso HFC is to see one of the following participating lenders listed on this website. You do not have to come to City Hall to apply. Go directly to one of these lenders and ask about the Welcome Home El Paso Program.
REALTORS® Info Page
The mortgage revenue bond program can benefit REALTORS® by widening their market segment to include individuals who, with down payment and closing cost assistance, can now afford to own a home where previously this was not possible.
Some good links to sites and resources to help you plan for home ownership and to better understand the role of housing in the community.
Residents are required to meet income guideline of $46,807 or less for one occupant and $50,300 or less for two person occupancy. For leasing information contact property manager at (915) 373-6210.
- Savoy Loft Apartments 120 N. Stanton - Rents from $690-$775
- Myrtle Apartments I 1108 Myrtle - Rents from $475-$550
- Myrtle Apartments II 1120 Myrtle- Rents from $425-$550
GRANTS UP TO 5% OF PRINCIPAL LOAN AMOUNT TO HELP BUY A HOME WITHIN EL PASO CITY LIMITS:
- Household of 2 or less $71,200
- Household of 3 or more $81,800
*Rates updated daily. Please call Lender for current rate info or stop by their office today:
GECU, 915-774-6081, 7227 Viscount, El Paso, TX 79925