First-time home buyer programs in Plano, Texas — down payment assistance
Plano Down Payment Assistance

First-Time Home Buyer Programs & Down Payment Assistance in Plano, Texas

The first-time home buyer programs in Plano, TX that matter most are the ones that cover the cash to close: FHA, USDA, and HUD-184 loans with down payment assistance — a grant with nothing to repay for buyers inside the eligibility categories, forgivable and repayable second liens for everyone else — with no rule that this must be a first home.

Current Program Snapshot

Current down payment assistance guidelines, updated from one source.

One source feeds every down payment assistance page Lendmire publishes; the Plano, TX figures below refresh when the program sheets are updated.

Down Payment Help
Up to 5%

Of the purchase price

Measured on the purchase price or the appraised value, whichever is lower; the largest option covers the down payment and reaches closing costs, and the smaller options cover the 3.5% FHA minimum, in whole or, on the lowest tier, in part.

Nothing to Repay
3.5%

Covers the FHA down payment, in whole or in part

This covers the 3.5% FHA minimum down payment in whole or, on its lower tier, in part, and is forgiven at closing: no lien on the home, no monthly payment, no interest. It opens on the area income limit or on a qualifying category.

Income Limit
None

On the forgivable and repayable options

The forgivable and repayable options have no income limit at all — one of the biggest advantages of this program. Only the nothing-to-repay option asks for income at or below 140% of the area median, or a qualifying category.

Credit
620

Credit score to start

This is the lowest score that opens an option here — the nothing-to-repay option; the forgivable second liens start a little higher and the repayable options higher still, so a stronger score opens more choices.

Assistance options offered in Texas — how much, what it costs to carry, and the credit it takes
OptionAssistanceWhat you repayCredit · mortgage · units
Grant-style assistance — nothing to repay2% or 3.5% of the priceNothing — released at closing620+ · FHA 203(b), FHA repair escrow, FHA Limited 203(k), FHA Standard 203(k) · 1–4 units
Forgivable second lien — three-year3.5% of the priceNothing after 36 on-time mortgage payments640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units
Forgivable second lien — five-year3.5% of the priceNothing after 60 on-time mortgage payments640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units
Repayable second lien — thirty-year amortization, ten-year balloon3.5% or 5% of the priceSecond lien, 30-year amortization, balloon in year 10660+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units
Closing-cost repayable second lien3.5% or 5% of the priceSecond lien, 30-year amortization, balloon in year 10660+ · FHA 203(b) · 1–2 units
Refinance-cost second lien (repayable)1% to 3.5% of the balanceSecond lien, repaid660+ · FHA 203(b) · 1–4 units

Current down payment assistance snapshot · updated September 7, 2026 · six options offered in Texas · no option requires a first-time buyer · no option combines with another assistance program · owner-occupied primary residences only.

Program Notice

This page describes down payment assistance at the program level. The option for any file comes from the credit tier, the first lien, the property, and the eligibility category; the first lien’s approval, the appraisal, and full underwriting decide the actual terms, subject to lender program eligibility. Nothing here is a quote, a fee, or a commitment to lend; the calculator’s rate is a market benchmark you can edit and its payment an estimate. Lendmire is never the lender and is not affiliated with FHA, USDA, HUD, or the federal government. Lendmire, LLC — NMLS #2371349. Equal Housing Opportunity.

Plano Down Payment Assistance Guide

What down payment assistance is — and how the options differ.

First-time home buyer programs are not one program; they are a family of down payment assistance options paired with a government-backed first lien, and the right one for a Plano, TX buyer depends on credit, the first lien, the property, and whether the help needs to reach closing costs.

For the program overview, see Lendmire’s down payment assistance program, or the statewide guide at Down Payment Assistance in Texas.

01.

Assistance covers the FHA down payment

Every purchase option for a Plano buyer is sized on the price (or the lesser of price and value), not on a fixed sum: the smaller options cover the minimum investment, in whole or, on the lowest tier, in part, and the larger repayable option covers it and reaches closing costs and prepaid items too; the refinance option is sized on the balance.

02.

Four shapes: grant, forgivable, repayable, refinance

The options differ in what they cost to carry: a nothing-to-repay option released at closing; forgivable second liens with no interest and no payment, released after an on-time payment period; a repayable second lien, amortized with a balloon, that reaches closing costs; and a refinance-cost option for an existing FHA loan.

03.

Credit floors, mortgage programs, and unit counts

Two-borrower files can qualify on a blended score on the second-lien options when the higher earner has the higher score and an automated approval is in hand; every borrower still needs a score of their own, and the first lien and the unit count place the file as the options table shows.

04.

Eligibility without a first-time-buyer rule

No option requires a first-time buyer. The nothing-to-repay option asks for one qualifying category — income at or below the area limit, a community-service occupation, a first purchase, or an underserved tract — and a homebuyer education course; the second-lien options ask for neither.

The Core Calculation
Mortgage plus assistance = the price; the shape of the assistance decides what is owed afterward

The assistance is measured on the price, so the calculator starts there. It then applies the option you choose, your own cash, and an editable benchmark rate to show the loan, the mortgage insurance, and the payment.

Plano Market Context

Where Plano’s first-time and moderate-income buyers shop — and how the assistance fits.

The share of Plano, TX households that rent, the median home value, and the median household income together sketch the gap the assistance closes for a first purchase.

Market context only. Value and income rarely move at the same pace; the market figures below show what a Plano home costs and how many households rent, and the calculator shows what that means for the minimum investment.

290,594Population (ACS 2020–2024)
$465,900Median owner-occupied home value (ACS 2020–2024)
43.1%Households that rent (ACS 2020–2024)
$112,253Median household income (ACS 2020–2024)

Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.

Plano Submarkets

Distinct Plano submarkets, distinct property rules.

Across Plano’s condominiums, townhomes, and older neighborhoods close to work, the same program produces different closings because prices, property types, and first liens differ block by block.

01.

Townhomes and attached homes

Attached homes and townhomes in Plano sit at price points where the minimum investment is smaller in dollars but no easier to save; the assistance closes that gap, and the association’s documents are reviewed with the file. Median gross rent in Plano is about $1,841 a month — the payment many renters already carry.

02.

Small multi-unit homes, owner-occupied

In Plano, owner-occupied small multi-unit buildings qualify for assistance when the buyer lives in one of the units, up to four units on a purchase; the unit count decides which option applies. The median owner-occupied home value in Plano runs near $465,900 on the latest Census estimate.

03.

Older neighborhoods and renovation loans

Renovation purchases in Plano qualify for the assistance on the price before repairs, which lets a buyer take on a home that needs work without also finding the minimum investment. Plano itself counts a population near 291K; it sits within the Dallas-Fort Worth-Arlington, TX area.

04.

New construction and infill

A newly built Plano home is eligible; the buyer’s own funds requirement is covered by the assistance, and the builder’s closing date is met once the first lien is approved. About 43% of Plano’s households rent — roughly 48,422 renter households, the pool the program exists for.

05.

Condominiums close to work

In Plano, a condominium near the job is the first home many buyers can reach; the program pairs with it as long as the project clears FHA review, and the assistance covers the minimum investment the same way it would on a house. Median household income in Plano sits near $112,253 on the latest Census estimate.

06.

Manufactured homes on owned land

For Plano buyers looking at manufactured housing, the assistance is available on owned land, with single-width homes reaching only the option that accepts them. On a home at Plano’s median value, the FHA minimum investment comes to about $16,300 — the figure the assistance is built to cover.

Read the submarkets as orientation. The file’s figures come from the first lien, the option, and the program’s rules.

How Plano Buyers Use the Program

Four ways Plano buyers put down payment assistance to work.

Down payment assistance in Plano, TX is used for more than a first purchase; these are the structures Plano buyers ask about most.

Small multi-unit

Buy a small multi-unit home and live in one unit

For a Plano buyer choosing a small multi-unit home, the assistance attaches to the first lien on the building, up to the option’s unit limit, with the buyer living in one of the units.

Government mortgages

Pair the assistance with a USDA or HUD-184 mortgage

A Plano, TX buyer on a USDA or HUD-184 first lien uses the second-lien options, forgivable or repayable; the nothing-to-repay option pairs only with FHA first liens.

Refinance

Cover the costs of an FHA refinance

The refinance-cost option in Plano, TX is for an existing FHA loan, not a streamline, and not a loan that already carries assistance; it is sized on the lesser of balance or value.

Renovation

Buy a home that needs work with a renovation mortgage

For an older Plano home, the renovation first lien and the assistance fit together, with the assistance measured on the purchase price rather than the repaired value.

Assistance Sizer

Size the assistance on a Plano price before requesting a quote.

The calculator does what a loan officer’s first pass does for a Plano file — sizes the minimum investment, applies the option, builds the FHA loan with mortgage insurance, and estimates the payment — using the current program figures and an editable benchmark rate.

Editable FHA scenario with assistance

Plano FHA payment with assistance

Seeded from Plano’s home values; every field is editable, and the estimate updates as you change the price, the option, your cash, or the rate.

Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an FHA loan quote.

—FHA minimum investment on this price.
—Annual mortgage insurance rate applied, and for how long.

Illustrative starting assumptions: a $465,000 price near Plano’s median owner-occupied home value, the strongest assistance option offered in Texas applied against the FHA minimum investment, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for Texas (U.S. Census Bureau). Every field is editable.

Estimated total monthly housing payment
—
Principal and interest, FHA mortgage insurance, taxes, insurance and dues, on the total loan with the upfront premium financed.
—Total down payment (your cash plus assistance)
—Assistance applied to the down payment
—Assistance left toward closing costs and prepaids
—Your cash toward the down payment
—Base loan amount
—Upfront mortgage insurance premium, financed
—Total loan amount
—Principal and interest
—Monthly FHA mortgage insurance
—Taxes, insurance and dues
—Housing and total debt ratios (with income entered)
—Where the file lands

Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not an FHA loan quote; your rate is set by the lender at lock. FHA mortgage insurance follows HUD’s published schedule for the term, leverage and loan size entered; taxes, insurance and dues are editable estimates; closing costs are not included; a repayable second lien adds its own payment, which is not shown here. Consumer mortgage lending licensed in sixteen states. Lendmire is not affiliated with or acting on behalf of FHA, USDA, HUD, or the federal government.

Down Payment Assistance vs. the Alternatives

Same buyer, three very different closings.

Down payment assistance is one of the ways a Plano buyer covers the minimum investment; each has a different cost after closing.

Structure Comparison

Assistance on an FHA loan, your own down payment, or assistance on a USDA or HUD-184 loan.

FHA with down payment assistance

The structure for a Plano buyer who qualifies for the payment but not the cash to close — the help is sized on the price and the option decides what, if anything, is owed afterward.

FHA with your own minimum investment

For a Plano, TX buyer with the cash in hand, the plain FHA purchase is the cleaner file; the assistance exists for the buyer who does not have it yet. For the first lien itself, see Lendmire’s FHA loan program.

USDA or HUD-184 with assistance

On a USDA or HUD-184 first lien in Plano, TX the assistance is forgivable or the ten-year repayable kind; the separate closing-cost option is FHA only. For the USDA first lien, see the USDA loan program.

Where each one fits

If the payment fits but the cash to close does not, down payment assistance is the structure; if the cash is there, the plain purchase; if the property is USDA-eligible, the USDA first lien with assistance for costs.

Typical File Components

What to prepare for a Plano scenario review.

A typical starting file for a first purchase with assistance.

Property detailUnit count, condominium approval status, manufactured-home width and title, USDA eligibility, and any association documents on file.
Homebuyer education certificateA HUD-approved course, online or in person, completed before closing on the nothing-to-repay option; the course cost is credited back at closing.
Mortgage programFHA, USDA, or HUD-184 — with the county loan limit checked against the price, since only the repayable options carry a high-balance first lien.
Assistance (second-lien) disclosuresOn the forgivable and repayable options, the second lien is a separate loan with its own number and disclosures; the repayable option carries a balloon disclosure.
Eligibility categoryNothing-to-repay option: proof of one qualifying category (occupation, first-time buyer, census tract, or area income; any one of them), plus the signed application.
Purchase contractThe executed purchase contract with the price the assistance is measured on; on a renovation loan, the price before the repairs are made.

This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the mortgage, the assistance option, the property, and the eligibility category. Nothing here is legal or tax advice.

Plano File Considerations

Local details that can change the loan.

A down payment assistance file in Plano, TX is won or lost on details a plain purchase never meets: the eligibility category, the forgiveness clock, the balloon on the repayable option, the county loan limit, the property type.

Before You Move Forward

Use these checks to keep the Plano file clean and fundable.

The checks below keep a Plano assistance file on track, and each one comes from the option’s own terms rather than from a lender’s preference.

  • Know the option: confirm the option is offered in the state.
  • Confirm the category: identify the category that opens the nothing-to-repay option.
  • Handle small repairs: finish and inspect the work inside the window.
i.

The option decides what you owe afterward

The same minimum investment can be covered three ways on a purchase in Plano, TX, and the difference is entirely in what happens after closing: nothing, nothing if the first lien stays current, or a second loan that comes due; the options table shows what is offered.

ii.

The eligibility category for the nothing-to-repay option

The category is checked at application on the nothing-to-repay option, together with the signed assistance application and the education certificate; no option requires a first-time buyer, and the second-lien options carry no income limit.

iii.

Escrow holdbacks for minor repairs

A Plano home with a small repair list does not have to wait for the work before closing; the escrow holdback carries it, within the program’s cap and timeline, with an inspection when the work is done.

iv.

The balloon on the repayable option

The repayable options are the only purchase options that carry a payment; in exchange they cover the most and pair with a high-balance first lien. Their terms are set by the program, never by this page.

v.

Blended scores for two-borrower files

Blending is a qualification tool on the second-lien options and nothing more; a Plano file that blends still needs each borrower to have a representative score, and manual underwriting is off the table.

A Clear Process

From a Plano pre-approval to keys with the assistance in place.

Lendmire runs a Plano assistance file in a set order: pick the option, match the first lien, clear the property, close with the assistance in place.

i.

Pick the option

Every Plano file starts with the option and the first lien; the category, the homebuyer education course and the property rules are then settled around them, in that order.

ii.

Get the mortgage approved

The first lien’s approval carries the file; the assistance is arranged alongside it, with the eligibility category and the education certificate in hand where they apply.

iii.

Clear the property

Property review runs in parallel with the first lien; the Plano home is checked against the option’s rules and the first lien’s, from the unit count to the association package.

iv.

Close both loans together

The Plano closing carries both instruments: the first lien and the assistance, each documented on its own and closed together, with the education certificate in the file where it applies.

Why Lendmire

A brokerage that pairs the assistance to the loan.

An assistance file rewards preparation, and preparation is what a brokerage built for first-time and moderate-income buyers provides.

i.

The option, matched to the buyer

The nothing-to-repay option where it fits, the forgivable options where it does not, the repayable option where closing costs are the hurdle — chosen for the Plano, TX buyer, not by default.

ii.

The mortgage, matched to the property

A Plano file is matched to the first-lien program that carries the property — FHA everywhere, USDA or HUD-184 where they fit — and the assistance option follows that choice.

iii.

The right wholesale program

Not every wholesale lender carries down payment assistance, and the ones that do differ on shape, floors, and states; Lendmire knows which is which.

Client Experiences

Trusted by first-time buyers & families alike.

Verified Google Reviews
Google
Joseph Edwards
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Highly recommend, Cori was awesome to work with and had great communication. She was very helpful and got us through everything to close.
Google
K Star Real Estate LLC
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Cori on the Lendmire team was phenomenal! She was two steps ahead through the entire process of purchasing an investment property. She was solving problems before anyone knew there could have been a problem. Great communication, great availability, all around a great person to work with. She is the reason our deal closed. We look forward to working with her again in the very near future!
Google
Tristen Mosley
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Alayna Pack is very knowledgeable, helpful, communicative, and transparent. Highly recommend.
Google
J Mills
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Leigh is absolutely the best! Professional yet personable, diligent, and incredibly responsive. She was with us throughout the process and helped us secure a competitive rate. Leigh went above and beyond to make sure all of our questions were answered, and offered deep explanations for questions that arose. We felt supported through the entire process and trust her expertise completely. 5 stars!
Google
Tyjuana Atkinson
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Awesome experience!!!!!!! Leigh had our best interest at heart from beginning to the end.
Google
Anna Hernandez
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Curt Galbraith was a Great Loan Originator and goes above and beyond for his clients, working with him on this transaction was so easy. I would recommend him for any Buyers looking to Buyer or Refinance. Great Service all around
Google
RustynKelli Shelton
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Brenda is absolutely one of the most professional hardworking lenders we have ever dealt with; she’s helped clients of ours and now us personally. Her communication is top notch, you never feel like you’re forgotten or left to figure things out on your own, great to answer questions and explain each step. Definitely recommend Brenda to walk along beside you in your purchase process!
Google
Isaac Alonzo
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
As a first time home buyer Curt Galbraith was a wonderful man, he explained everything i had questions about and took time out of his day to meet up late at nights after my night shift, to explain things to me .Over all Curt was really helpful all through closing and always there when you needed him. Thank you so much Curt for helping me through out the whole process.
Google
Jason Fleck
Google star 1Google star 2Google star 3Google star 4Google star 5Trustindex verifies that the original source of the review is Google.
Brenda, Samantha and the Lendmire team were absolutely fantastic to work with. We had to jump through some major hurdles to get this home done, which most lenders would have gave up, they kept pushing to get this home done for us. I would absolutely recommend Brenda and team to anybody. Thank you so much for your commitment, communication, perseverance through the whole process. Jason & Brooke
Questions Plano Buyers Ask

Plano down payment assistance FAQs

Straight answers for Plano buyers weighing down payment assistance; the mortgage approval and the option’s rules decide every actual figure.

Do I have to be a first-time homebuyer?

Not for any option. First-time status is one path into the nothing-to-repay option, not a requirement of the program.

Is there an income limit?

Only on the nothing-to-repay option, and only when no other category applies: household income at or below the area-median-income ceiling in the snapshot, measured where the property sits. The forgivable and repayable second-lien options carry no income limit beyond the mortgage’s own rules.

What first-time home buyer programs are available in Plano?

Down payment help in four shapes for a Plano, TX buyer: money with nothing to repay, a forgivable second lien that costs nothing while the mortgage stays current, a repayable second lien that reaches closing costs, and a refinance-cost option for an existing FHA loan. The forgivable and ten-year repayable shapes pair with an FHA, USDA, or HUD-184 mortgage; the rest pair with FHA only.

Do I have to pay the assistance back?

For a Plano buyer, the nothing-to-repay option where offered, otherwise a forgivable second lien; the options table on this page shows what each costs to carry.

What credit score do I need?

Each option has its own floor, starting in the low six hundreds on the nothing-to-repay option and stepping up on the forgivable and repayable second liens; every borrower needs a score, and two-borrower files may qualify on a blended score on the second-lien options. The snapshot shows the floors in force.

Can the assistance cover closing costs too?

Yes, on the repayable options: the larger repayable option covers the minimum investment and a further share of the price for closing costs and prepaid items. The nothing-to-repay and forgivable options cover the minimum investment only.

Do I need a homebuyer education course?

On the nothing-to-repay option, yes — a HUD-approved course, online or in person, with the cost credited back at closing. The second-lien options do not require it, though the course is worth taking on any first purchase.

How does a forgivable second lien work — the small second loan behind the mortgage?

It is recorded as a second lien with no interest and no monthly payment, and it is released after the on-time payment period on the first lien — three years on one option, five on the other — as long as there is no serious delinquency in that window and the home stays the primary residence.

What is the rate on the mortgage and on the assistance?

It depends on the first lien, the option, and the file; the rate shown in the calculator is an editable market benchmark, not a quote, and the payment it produces is an illustrative estimate. A scenario review produces the terms.

What property types are eligible?

Most primary-residence property types, with the condominium’s approval, the manufactured home’s width and title, and the unit count deciding which option attaches.

Get Started

Bring the price. We will find the option.

No credit pull, no commitment: an initial review places your Plano purchase on the right option and tells you what to gather.