Community & Human Development

First Time Home Buyer

First Time Home BuyerThe City's First Time Homebuyer Program can help a family of four making less than $47,100 buy their first home.

To be eligible for participation in the City of El Paso’s First Time Homebuyer Program, applicants must meet and/or comply with all the following Program criteria:

  • HOMEBUYER EDUCATION: Applicant(s) must complete a "Guide to Homeownership Course" offered by the YWCA Home Ownership Center, The El Paso Credit Union Affordable Housing, or Project Bravo prior to submitting an application.

  • APPLICANT QUALIFICATION: The gross annual household income of the applicant’s family must be between 60% - 80% of the median income for the City of El Paso, as published by HUD on an annual basis.

Other applicants may be considered if another secondary financing is being utilized (i.e., Sec. 8 Homeownership, IDA’s, FHLB, etc.) as long as the housing cost ratio does not exceed 35% of the applicant's monthly gross income.

Purchase Price Limits

The maximum sales price for the City of El Paso First Time Homebuyers Program is $152,000 which is based on 95% of the average median purchase price for the area. The maximum sales price will be adjusted annually.

Location & Characteristics

Property to be purchased under this Program must be located within the geographical limits of the City of El Paso. Property to be purchased must be a single-family property, one unit in a 2-4 unit property, condo, or manufactured home, which must be permanently affixed to the ground.

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Annual Household Income

Size of Family 60% Annual Gross Income 80% Annual Gross Income
1 28,620 38,150
2 32,700 43,600
3 36,780 49,050
4 40,860 54,450
5 44,160 58,850
6 47,400 63,200
7 50,700 67,550
8 53,940 71,900


Principal Reduction Assistance Program

Subsidy Limits: The minimum assistance is $1,000 and the maximum assistance is $35,000 which is provided only for the purpose of principal reduction. Funds Required: Applicants must have a minimum investment amount of $1,000 of their own funds.

Down Payment & Closing Costs Assistance Program

The maximum assistance is $5,000 which will be in the form of a 3% interest forgivable loan with a term of 10 years.