Your first home is the biggest purchase you'll make, and you don't need 20% down to do it. Here's how it works in El Paso, the Texas programs that help with the down payment, and the one cost first-time buyers forget: property taxes.
Texas has statewide programs that help first-time and moderate-income buyers with the down payment and closing costs, through approved lenders:
Loan types many first-time buyers use: FHA (3.5% down with a 580+ credit score), conventional loans with as little as 3% down, and VA loans with no down payment for eligible veterans and service members (more on VA loans).
Programs, income limits and funding change. Your lender confirms what you qualify for.
Texas has no state income tax, so property taxes are higher than many buyers expect. A $250,000 home in the City of El Paso runs about $5,096 a year in property taxes with the homestead exemption, and the rate changes with the city and school district. See the 2025 rate table, or ask me to compare two homes for you.
It depends on the loan: FHA is 3.5% down, some conventional loans 3%, and VA loans 0% for eligible buyers. You'll also have closing costs, which down payment programs and seller concessions can help cover. A lender gives you exact numbers.
No. FHA loans allow credit scores from 580 with 3.5% down. A lender can tell you where you stand and what would help.
Once the home is your primary residence, Texas takes $140,000 off its value for school taxes. You file it once with the El Paso Central Appraisal District, and it's free.
Tell me what you pay in rent and I'll show you what the same money looks like as a mortgage payment, taxes included, on real listings.