A Texas first-time home buyer is an individual purchasing a residential property in Texas for the first time. For example, a recent college graduate relocating to Austin for their first job may qualify as a first-time home buyer if they have never owned a home before.
Becoming a first-time home buyer in Texas offers several advantages, including potential tax benefits, lower interest rates on mortgages, and the opportunity to build equity in a property. Historically, Texas has implemented programs to assist first-time home buyers, such as the Texas Homebuyer Assistance Program, which provides down payment assistance and low-interest loans.