The 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 applicants’ 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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