The City’s Housing Finance Corporation needs Community Support to distribute $25MM of Homebuyer GRANTS and downpayment assistance to El Paso Families ASAP.
In April 2025, the El Paso HFC invested $1 million to create $25 million dollars of homebuyer assistance to help approx. 120 families buy homes in the City of El Paso with a GRANT equal to 4% of mortgage amount AND a 30-year fixed government loan at 6.2% mortgage rate.
El Paso, TX – June 10, 2025
El Paso Housing Finance Corporation (El Paso HFC) announces the $25 million Mi Casa Homebuyer GRANT Program, designed to help low-to-moderate income individuals keep housing costs affordable by promoting homeownership, financial literacy and long-term personal equity. The program offers first-time homebuyer downpayment GRANT assistance with a competitive government mortgage interest rate of 6.20%, making it easier to transition renters into homeownership.
The Downpayment Assistance GRANT is key in supporting homebuyers in the pursuit of the American dream. We recognize the struggles families face today by paying their bills on time and leaving little in the bank to save for a downpayment. We seek to make owning a home affordable and achievable byempowering El Paso families with GRANT funds to equalize the playing field. Our Mi Casa GRANT is equal to 4% of mortgage amount with a competitive fixed 6.2% mortgage rate.
Sometimes families fear they can’t afford to buy without realizing that what they actually can’t afford is to continue absorbing increasing rents. This program is part of El Paso Housing Finance Corporation’s mission to expand access to safe, quality, and affordable housing for residents in the City of El Paso. By investing in home ownership programs such as the Mi Casa Homebuyer GRANT program, the El Paso Housing Finance Corporation aims to address the immediate housing needs of the community while promoting long term economic stability and community development. This program is a significant step towards converting renters into homeowners, ultimately contributing to the overall well-being and prosperity of all El Paso.
About El Paso HFC
El Paso HFC was created by the El Paso City Council in 1979 pursuant to the Housing Finance Corporation Act. We have not lost sight of our mission since its origin because we recognize our acute impact on families, their dignity and their long-term financial future. We consistently provide affordable housing solutions FOR THE PEOPLE in low-to-moderate-incomebrackets in the city of El Paso. Hopefully, in the future we can find solutions to be able to expand the program to surrounding areas near El Paso City limits as well.
