First-Time Home Buyer Program

Are you ready to buy a home but lack the money for the down payment and closing costs? AT CTCU, we value the community that we live in and the people who make up that community, which is why we have partnered with the City of Tyler to help fund up to 20%* of select first-time homebuyer’s mortgage.

How Do I Qualify?

  • Applicants must be U.S. citizens or permanent legal residents
  • Applicants must not have owned a home within the past three years.
  • The property must:
    • Be within the City of Tyler limits
    • Be a single-family residence
    • Have been built during or after 1978
    • Pass both a home inspection and Housing Quality Standards
    • Not be located in a floodplain or floodway

Applicant’s gross household income from all sources must be equal to or less than the following amounts below:

Household Size

1

30% of AMI$16,500
50% of AMI$27,500
80% of AMI$44,000
Household Size

2

30% of AMI$18,850
50% of AMI$31,400
80% of AMI$50,250
Household Size

3

30% of AMI$23,030
50% of AMI$35,350
80% of AMI$56,550
Household Size

4

30% of AMI$27,750
50% of AMI$39,250
80% of AMI$62,800
Household Size

5

30% of AMI$32,470
50% of AMI$42,400
80% of AMI$67,850
Household Size

6

30% of AMI$37,190
50% of AMI$45,550
80% of AMI$72,850
Household Size

7

30% of AMI$41,910
50% of AMI$48,700
80% of AMI$77,900
Household Size

8

30% of AMI$46,630
50% of AMI$51,850
80% of AMI$82,900

Assitance Amounts

This program will offer down payment assistance up to the following amounts, and are considered a “deferred payment loan”, meaning no monthly loan repayments for the assistance money is necessary.

Type of House

Existing Home

Assitance AmountUp to $14,999
Type of House

New Construction

Assitance AmountBetween $15,000 and $25,000
Type of House

Target Area

Assitance AmountBetween $40,000 and $50,000

In other words, if you wish to purchase a new construction home at a price of $200,000 and plan to live there for a minimum of 10 years, you could receive up to $25,000 which would be applied toward your CTCU home loan making your mortgage balance $175,000 instead of $200,000.

Contact us today to see if you qualify or start your application now!

Apply Now

*Terms and conditions apply. Must meet certain qualifications and criteria to qualify.

Take the next step to getting your Home Loan:

Apply for a CTCU Mortgage Loan Request Rates Contact Us

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