How It Works

What is The Texas Cares Program^SM?

The Texas Cares Program^SM provides gift funds for down payment and closing costs to a qualified buyer using an eligible loan program, such as an FHA Loan. The gift funds are an amount up to 3-6% typical, as high as 10% of the contract sales price to be used towards the purchase of a participating home. These gift funds do not have to be repaid. There are no income limitations and no geographical restrictions.

The common misconception is that the Texas Cares Program is more costly to a seller than a typical FHA transaction. This is not true!

The Texas Cares Program prospects should realize that most sellers who use the program as a selling tool have determined that they will not accept anything less than full market value for their property.
The gift funds are received by the buyer prior to the close of the transaction. The seller only pays the costs from the proceeds of a successfully closed transaction.
The Texas Cares Program uses money from a pre-existing pool to gift the buyer up to 3-6% typical, as high as 10% of the contract sales price (depending on the buyer's needs) for down payment and closing costs. The seller then pays a fee directly to the processing company as well as making a contribution to the source non-profit for gift fund replenishment and charitable endeavors.