Current down payment assistance guidelines, updated from one source.
The snapshot below is not typed onto this page — it is pulled from one down payment assistance guideline source and refreshed when that source changes, so Richardson, TX always shows the options in force.
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.
Covers the whole FHA down payment
The FHA minimum down payment is 3.5%, and this option covers all of it with nothing to pay back — no lien, no payment, no interest — for buyers at or below the area income limit or in a qualifying category.
On the forgivable and repayable options
No income cap on the forgivable and repayable options: earn what you earn. The nothing-to-repay option is the one exception, opening at or below 140% of area median income or through a qualifying category.
Credit score to start
The score that opens the nothing-to-repay option; the forgivable options start a step higher and the repayable options higher still. Two-borrower files may use a blended score on the second-lien options.
| Option | Assistance | What you repay | Credit · mortgage · units |
|---|---|---|---|
| Grant-style assistance — nothing to repay | 2% or 3.5% of the price | Nothing — released at closing | 620+ · FHA 203(b), FHA repair escrow, FHA Limited 203(k), FHA Standard 203(k) · 1–4 units |
| Forgivable second lien — three-year | 3.5% of the price | Nothing after 36 on-time mortgage payments | 640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Forgivable second lien — five-year | 3.5% of the price | Nothing after 60 on-time mortgage payments | 640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Repayable second lien — thirty-year amortization, ten-year balloon | 3.5% or 5% of the price | Second lien, 30-year amortization, balloon in year 10 | 660+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Closing-cost repayable second lien | 3.5% or 5% of the price | Second lien, 30-year amortization, balloon in year 10 | 660+ · FHA 203(b) · 1–2 units |
| Refinance-cost second lien (repayable) | 1% to 3.5% of the balance | Second lien, repaid | 660+ · 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.
Down payment assistance options are consumer mortgage programs arranged through select wholesale lenders, licensed in sixteen states, paired with FHA, USDA, or HUD-184 first liens. Assistance is stated as a percentage of price or value, never as a dollar figure a specific borrower would receive; the forgivable and repayable options are second liens with their own disclosures. Eligibility depends on the first lien’s approval, the option’s rules, the property, and full underwriting, subject to lender program eligibility. The calculator’s rate is an editable market benchmark, not a quote, and its payment is an illustrative estimate; no fee or lender identity appears on this page. Lendmire is a mortgage broker and never the lender, and is not affiliated with or acting on behalf of FHA, VA, USDA, HUD, or the federal government.
What down payment assistance is — and how the options differ.
For Richardson, TX buyers, the first-time home buyer programs work the same way: the first lien carries most of the price, the assistance covers the minimum investment, and the shape of the assistance — nothing to repay, forgivable, or repayable — decides what it costs to carry.
For the program overview, see Lendmire’s down payment assistance program, or the statewide guide at Down Payment Assistance in Texas.
Assistance covers the FHA down payment
The gap the program closes for a Richardson buyer is the minimum investment: the assistance covers that share of the price, the first lien carries the rest, and the buyer’s own savings stay for the move.
Four shapes: grant, forgivable, repayable, refinance
The assistance comes as a grant where it is offered, as a forgivable second lien, or as a repayable second lien; each pairs with the first lien differently, and the options table on this page shows what is offered in Texas.
Credit floors, mortgage programs, and unit counts
Each option carries its own credit floor, its own first-lien list, and its own unit limit: the nothing-to-repay option pairs only with FHA and reaches four units; the second-lien options pair with FHA, USDA, and HUD-184 and stop at two units for a purchase.
Eligibility without a first-time-buyer rule
Eligibility is broader than most buyers expect: repeat buyers qualify, income limits apply only to the nothing-to-repay option, and the categories that open it include first responders, educators, medical personnel, civil servants, and military.
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.
Where Richardson’s first-time and moderate-income buyers shop — and how the assistance fits.
These Richardson, TX figures describe the market, not a borrower; the first lien’s approval and the option’s rules carry the file, and the numbers here only explain the neighborhood it sits in.
Market context only. In most markets, the renter households are the pool the program exists for: qualified for a payment close to their rent, short the cash to close; the assistance is the bridge from one to the other.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Richardson submarkets, distinct property rules.
Where a Richardson home sits changes which option can attach and what the property review asks; the submarkets below are the map most assistance files are read against.
Manufactured homes on owned land
Manufactured housing on owned land near Richardson is eligible, with the option decided by the home’s width: the nothing-to-repay option accepts single-width homes, while the second-lien options accept double-width only. Median gross rent in Richardson is about $1,857 a month — the payment many renters already carry.
New construction and infill
New construction in Richardson works with the program; the appraisal and the builder’s timeline set the pace, and the assistance closes with the first lien like any other purchase. On a home at Richardson’s median value, the FHA minimum investment comes to about $15,100 — the figure the assistance is built to cover.
Two-to-four-unit homes, owner-occupied
A buyer who lives in one unit of a Richardson duplex or triplex can use the program on the whole building; the option that allows up to four units makes a house-hacking purchase reachable with the minimum investment covered. Richardson counts a population near 119K within the Dallas-Fort Worth-Arlington, TX area.
Condominiums close to work
In Richardson, 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 Richardson sits near $98,111 on the latest Census estimate.
Older neighborhoods and renovation loans
Renovation purchases in Richardson 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. About 49% of Richardson’s households rent — roughly 22,572 renter households, the pool the program exists for.
Townhomes and attached homes
The townhome rows of Richardson are where many first purchases happen, and the assistance is designed for exactly that: the minimum investment covered, the closing costs reachable on the larger option. The median owner-occupied home value in Richardson runs near $431,400 on the latest Census estimate.
None of this is a valuation or an approval; it is the backdrop a Richardson file is read against before the first lien and the option decide the numbers.
Four ways Richardson buyers put down payment assistance to work.
From a first home to a small multi-unit building to an FHA refinance, down payment assistance in Richardson, TX solves a specific set of problems.
Buy a first home with the down payment covered
The most common Richardson, TX file: an FHA first lien, the assistance covering the minimum investment, and the buyer’s own funds reserved for moving costs and reserves.
Cover the costs of an FHA refinance
A Richardson homeowner refinancing an existing FHA loan can use the refinance-cost option, a repayable second lien sized on the balance, to cover closing costs and keep the first lien inside FHA limits.
Cover closing costs too on the larger option
A Richardson buyer who needs more than the minimum investment uses the repayable option that covers down payment, closing costs, and prepaid items, including costs paid outside closing.
Buy a home that needs work with a renovation mortgage
For an older Richardson home, the renovation first lien and the assistance fit together, with the assistance measured on the price rather than the repaired value.
Size the assistance on a Richardson price before requesting a quote.
This tool applies the program to a Richardson scenario: the price sets the minimum investment, the option and your cash set the down payment, and the FHA loan, mortgage insurance, and payment follow at the benchmark rate shown. Every field is editable; the rate is a market reference, not a quote.
Richardson FHA payment with assistance
A Richardson scenario to start from — adjust the price, the option, your own cash, the term, and the rate to see the assistance and the payment.
Editable benchmark: 6.71% as of September 3, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an FHA loan quote.
Illustrative starting assumptions: a $430,000 price near Richardson’s median owner-occupied home value (kept where an FHA first lien is realistic), 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.
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.
Same buyer, four very different closings.
Same Richardson buyer, four closings: assistance on an FHA loan, the buyer’s own minimum investment, assistance on a USDA or HUD-184 loan, or a gift from family.
Assistance on a government loan, saving the minimum, or a gift.
Covers the FHA minimum investment as a percentage of the price — some with nothing to repay — with forgivable and repayable second-lien shapes, credit floors in the low six hundreds, and no first-time-buyer rule; the larger option reaches closing costs and prepaids.
The buyer brings the minimum investment from savings, a retirement withdrawal, or seasoned funds; no second lien, no eligibility category, no homebuyer education requirement, and no assistance to carry. For the first lien itself, see Lendmire’s FHA loan program.
USDA and HUD-184 first liens pair with the forgivable and repayable options, which then cover closing costs and prepaids rather than a down payment the first lien does not require. For the USDA first lien, see the USDA loan program.
Assistance fits the buyer short of cash to close; the plain purchase fits the buyer with savings; the USDA and HUD-184 pairing fits eligible properties and borrowers; a documented gift fits when family can help — Lendmire places the Richardson, TX file where it reads best.
What to prepare for a Richardson scenario review.
The documents a lender reads first on an assistance file.
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.
Local details that can change the loan.
Beyond the credit tier and the first lien, a handful of details decide which option a Richardson buyer can use — or whether the assistance attaches at all.
Use these checks to keep the Richardson file clean and fundable.
Settle the option, the first lien, the property’s eligibility, and the category before the appraisal is ordered; a Richardson file that clears these reads cleanly.
- Know the option: confirm the option is offered in the state.
- Confirm the category: complete the homebuyer education course where required.
- Do not stack: check the first lien’s specialty programs against the option.
The option decides what you owe afterward
The same minimum investment can be covered three ways in Richardson, 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.
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.
No stacking with other assistance
No option may be combined with another down payment assistance program, and the nothing-to-repay option does not combine with a high-balance first lien; one assistance option, one first lien, one closing.
Blended scores for two-borrower files
A Richardson, TX couple where one score is strong and the other is not may reach an option through the blended score; the rule is that the higher earner carries the higher score, and manual underwriting is off the table when blending.
The balloon on the repayable option
The repayable option is the only purchase option that carries a payment; in exchange it covers the most and pairs with a high-balance first lien. Its terms are set by the program, never by this page.
From a Richardson pre-approval to keys with the assistance in place.
Four steps take a Richardson, TX assistance file from a first read to funding; the first one is the one most buyers skip.
Pick the option
Every Richardson file starts with the option and the first lien; the category, the education course, and the property rules are then settled around them, in that order.
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.
Clear the property
The appraisal, the condominium approval where one applies, the manufactured-home title, and the county loan limit are settled; small repairs go into an escrow holdback where the option allows it.
Close both loans together
Final underwriting reads the whole Richardson, TX file against the first lien’s rules and the option’s; the loan funds with the assistance in place and the second lien, where there is one, recorded behind it.
A brokerage that pairs the assistance to the loan.
Pairing the right assistance to the right first lien for a Richardson buyer means knowing which option the credit opens, which the property allows, and what each costs to carry — before the contract is signed.
The option, matched to the buyer
Lendmire reads the options offered in Texas against a Richardson buyer’s credit, first lien, property, and category before anything is ordered, and names the fit by cost to carry.
The mortgage, matched to the property
FHA, USDA, or HUD-184 is chosen with the Richardson property — its address, its unit count, its type — so the assistance option that pairs with it is the one that attaches.
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.
Trusted by first-time buyers & families alike.
Richardson down payment assistance FAQs
Plain answers to the questions Richardson buyers ask most about down payment assistance, before you request a review. Every file is underwritten individually; nothing here is a commitment.
Do I have to be a first-time homebuyer?
No. None of the options requires a first-time buyer. Being a first-time buyer is one of four categories that opens the nothing-to-repay option; the second-lien options have no first-time-buyer rule and no income limit at all.
Is there an income limit?
A Richardson buyer above the area income limit still reaches the nothing-to-repay option through an occupation, a first purchase, or the tract, and reaches the second-lien options regardless of income.
What first-time home buyer programs are available in Richardson?
Assistance measured as a percentage of the price, in shapes that differ by what you owe afterward: nothing, nothing if the first lien stays current, or a second loan with a balloon. Credit, the first lien, the property, and the eligibility category decide which fits.
Do I have to pay the assistance back?
For a Richardson 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?
A Richardson buyer’s credit tier decides which options are open — the options table on this page shows the floor for every option offered in Texas.
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.
Do I need a homebuyer education course?
Only the nothing-to-repay option requires it; the certificate is part of that file.
How does a forgivable second lien work — the small second loan behind the mortgage?
A lien that costs nothing to carry and disappears on schedule; the clock runs with the first lien’s payments.
What does Lendmire do on a Richardson first-time home buyer file?
Matches the option to the buyer and the first lien to the property, then runs both through approval and closing; Lendmire brokers the loan through its wholesale network and is never the lender.
Can I buy a duplex or a fourplex with assistance?
Yes, if you live in one of the units. The nothing-to-repay option reaches four units; the purchase second-lien options stop at two; the refinance-cost option reaches four with one unit owner-occupied.
Talk through a Richardson assistance file before the contract is signed.
Request a scenario review with the price and the first lien in mind; Lendmire answers with the option, the floor, and what the file will need.
This guide covers Richardson — for the statewide options, categories, and property rules, see Down Payment Assistance in Texas, part of Lendmire’s down payment assistance program.
Also in Texas: Georgetown · Rowlett · Galveston · The Woodlands · FHA Loans · USDA Loans