Down Payment Assistance & Loan Options for First-Time Buyers Near San Antonio (2025)

Down Payment Assistance & Loan Options for First-Time Buyers Near San Antonio (2025)

Buying your first home is exciting — but coming up with a down payment can feel like the biggest hurdle. The good news? In San Antonio and surrounding areas like New Braunfels, Boerne, Helotes, and Bulverde, several local and statewide programs help first-time buyers bridge that gap. Knowing what’s available can mean the difference between renting another year and owning your own place.

As Sandra Rangel, Top Realtor in San Antonio, Texas Real Estate, I’m breaking down the best down payment assistance and loan options to help you move toward homeownership with confidence.

Why Assistance Programs Matter for First-Time Buyers

Many first-time buyers lack the 20% down payment traditionally expected by lenders — and that’s okay. With the right programs, you may qualify for:

• Low or zero down payment options

• Grants that never need to be repaid

• Forgivable second mortgages

• Reduced monthly mortgage insurance

These can make monthly payments more affordable and improve your chances of loan approval.

Top Down Payment Assistance Programs Near San Antonio

1. San Antonio Homeownership Incentive Program (HIP)

The HIP program is designed to help residents in San Antonio with down payment and closing cost assistance. Depending on eligibility, you could receive a grant or forgivable loan that significantly reduces upfront costs.

📎 Source: Homeownership Incentive Programs (HIP) (2025-10-25)
https://www.sa.gov/Directory/Departments/NHSD/Housing-Support/Homeowner-Support/HIP

Who it helps:

• First-time buyers in the San Antonio area

• Buyers meeting income and home price limits

• Those willing to live in targeted census tracts

Perks:
✔ Grant funds that may not need to be repaid
✔ Support for closing costs and down payment
✔ Works with multiple mortgage types

2. Statewide & Regional Assistance Options

While local programs vary, you can also explore state programs that serve San Antonio and neighboring areas like New Braunfels, Boerne, Helotes, and Bulverde.

Examples include:

• Texas State Affordable Housing Corporation (TSAHC)

• My First Texas Home

• Texas Bootstrap Loan Program

• Home Sweet Texas Loan Program

These often provide:
✔ Down payment assistance as a second lien
✔ Lower interest rates
✔ Expanded underwriting flexibility

Ask your lender which state programs you pre-qualify for — they can often combine assistance with your first mortgage.

Common Loan Options for First-Time Buyers

Even with down payment assistance, you’ll still need a primary mortgage. Here are the most common loans for first-time buyers:

✔ Conventional 97 Loan

• Only 3% down required

• Available through many lenders

• Works well with additional assistance

✔ FHA Loan

• 3.5% down payment

• Flexible credit requirements

• Popular with first-time buyers

✔ USDA Loan

• Zero down payment in eligible rural areas — which can include parts of Comal and Bexar counties

• Must meet location & income limits

✔ VA Loan

• Zero down for eligible veterans and service members

• Excellent long-term value

Each loan type has unique qualifications — and pairing them with assistance programs can maximize your buying power.

How It Works Together

Here’s a simplified example of how assistance + loans combine:

1. You’re approved for a conventional or FHA loan

2. Your lender qualifies you for a down payment program

3. The assistance covers part or all of your required down payment

4. You close on your home with less cash upfront

Always ask a lender how each program fits your financial profile.

Where These Programs Apply

These assistance and loan options can support buyers throughout:

• San Antonio (central city)

• New Braunfels

• Boerne

• Helotes

• Bulverde

While some programs are specific to San Antonio city limits, many state or regional options extend to surrounding counties, giving buyers flexibility on where they purchase.

Frequently Asked Questions

Do I have to be a first-time buyer to qualify?

Often, but some programs define “first-time” as not owning a home in the past three years. Check each program’s rules.

Can I combine multiple assistance programs?

Yes, in many cases, you can combine local and state programs with your primary mortgage.

Will assistance affect my credit or loan terms?

Most grants do not affect your credit if used properly, and assistance often improves your loan terms by reducing the amount you borrow.

Next Steps for First-Time Buyers

Ready to explore your options?

1. Connect with a local lender to get pre-approved

2. Ask about TSAHC, HIP, and state programs

3. Work with a trusted realtor to find homes that qualify

Work With an Expert

If you’re navigating down payment programs and loans around San Antonio, New Braunfels, Boerne, Helotes, or Bulverde, I’m here to help you through every step.

Sandra Rangel — Top Realtor in San Antonio, Texas Real Estate
📧 Contact me to discuss assistance programs, loan options, and homes that fit your budget.