About 132 Denton County households could receive help buying a home under an initiative approved by county commissioners Tuesday, Oct. 20.
The vote allows the Denton County Housing Finance Corporation to transfer $40 million in private activity bond allocation to the Texas Department of Housing and Community Affairs. The arrangement is expected to provide nearly $1.4 million in down payment assistance, according to the Cross Timbers Gazette.
The allocation supports mortgage financing rather than transferring $40 million in county cash. Eligible buyers throughout Denton County, including Flower Mound and Highland Village, could obtain 30-year, fixed-rate mortgages with assistance for down payments and closing costs.
The partnership builds on an existing program that has supported 49 mortgages totaling approximately $15 million in the county since January 2025, the Gazette reported.
Commissioner Kevin W. Falconer said saving for a down payment can be a barrier for families. County Judge Andy Eads said the partnership expands homeownership opportunities without adding county debt. TDHCA will administer the program and oversee compliance.
Under the state’s My First Texas Home program, applicants generally must meet first-time-buyer requirements, income and purchase-price limits, and a minimum credit score of 620. Homebuyer education is required, and buyers must occupy the property as their primary residence within 60 days of closing.
Assistance ranges from 2% to 5% of the total mortgage amount for eligible FHA, VA and USDA loans, subject to funding availability. Buyers can choose deferred, repayable assistance or a three-year forgivable option. Conditions apply, and selling or refinancing before forgiveness can trigger repayment, according to TDHCA’s program guide.
Certain qualifying veterans and buyers purchasing in targeted census tracts may be exempt from the first-time-buyer requirement.
Prospective buyers can review eligibility requirements and find participating lenders at welcomehome.tdhca.texas.gov.
