Explore El Paso Mortgage Options
Tyler Arnaiz offers a number of home purchase programs to meet your specific El Paso mortgage needs, including government-backed loans and refinances. Because El Paso is home to Fort Bliss, one of the Army’s largest installations, VA loans are a particularly important option for many local buyers. Tyler has experience guiding military families through the process.
Find Your Dream Home with the Right El Paso Mortgage
Secure your dream home with Texas mortgage options suited to El Paso’s market. Compared to Austin, Dallas, and Houston, El Paso remains one of the more affordable major Texas metros, which opens the door for first-time buyers in neighborhoods throughout the Upper Valley, Mission Valley, and the East Side.
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Get a quoteUnderstanding El Paso Mortgage Requirements
Your borrower profile (credit score, down payment size, and debt-to-income ratio) determines which El Paso mortgage programs you can access.
For a conventional loan, you’ll typically need a credit score of 620 or better. Government-backed loans, such as FHA, VA, and USDA loans, often accept lower scores. An FHA loan, for example, lets you put down as little as 3.5% with a credit score of 580 or higher, one of the more accessible paths to homeownership.
Before you start house hunting, it helps to check your credit history, dispute any inaccurate information, and pay down existing debt where you can.
Your debt-to-income ratio also plays a role in what you qualify for. Conventional loans typically call for a DTI of 43% or less, while government-backed loans tend to allow more flexibility; some FHA lenders accept a higher DTI depending on your full financial picture. Tyler can walk you through where you stand.
A larger down payment lowers your monthly payment and can improve your loan terms. Putting 20% down on a conventional mortgage helps you avoid PMI, though some lenders accept as little as 3%. VA loans and USDA loans require no down payment at all, a meaningful advantage for eligible Fort Bliss service members and veterans buying in the El Paso area.
El Paso Down Payment Assistance Programs and Grants
Down payments are often the biggest hurdle to homeownership in Texas, but El Paso buyers have several assistance programs worth exploring.
The El Paso HFC FTHB Program offers a grant of up to 5% of the home’s purchase price for buyers who meet income and purchase price qualifications, along with a required homebuyer education course.
The Texas State Affordable Housing Corporation (TSAHC) offers down payment assistance through two programs Homes for Texas Heroes and Home Sweet Texas available as either a grant or a forgivable second mortgage that’s only repaid if you sell the home. A 620 credit score is generally required to qualify.
The El Paso County Turnkey Plus Downpayment Assistance (DPA) program provides up to 5% of the loan amount as a soft second mortgage at 0% interest, fully forgiven after 30 years. This program is open to any qualifying borrower, including existing homeowners.
Because eligibility rules and funding levels change, we can confirm current details for any of these programs, or you can check current figures directly at HUD.gov.
Why Choose Arnaiz Mortgage for Your El Paso Home Loan?
As a broker rather than a single direct lender, Tyler Arnaiz shops your loan across multiple lending partners to find terms that fit your credit profile and goals, whether you’re a first-time buyer, a returning Fort Bliss service member, or refinancing an existing El Paso home. Tyler walks you through every detail upfront, including fees, credit score requirements, and down payment stipulations, so there are no surprises at closing.
