See programs you qualify for
Get Matched Free →Homebuyer Programs in Odessa, TX (2026)
Odessa is a city in Ector County in the heart of the Permian Basin in West Texas, with a population of about 122,000 and a median home price around $215,000. Odessa stands out among Texas cities for having a robust city-funded homebuyer assistance program. The City of Odessa Homebuyer Assistance Program provides up to $13,500 for existing homes and up to $24,000 for new construction as a zero-interest forgivable loan. State programs add even more support, with My First Texas Home offering up to 5% of the loan amount as a forgivable loan and the Homes for Texas Heroes Program providing up to 5% as a grant for teachers, first responders, and veterans. Permian Basin Habitat for Humanity also builds affordable homes in Odessa with zero-interest, 30-year mortgages. By stacking the city program with state assistance, eligible buyers can cover a substantial portion of their home purchase costs.
Top Homebuyer Programs in Odessa
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| City of Odessa Homebuyer Assistance Program | Forgivable Loan | Up to $13,500 for existing homes; up to $24,000 for new construction | Yes | View → |
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| Permian Basin Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable home purchase with zero-interest, 30-year mortgage | No | View → |
| Home Sweet Texas Home Loan Program | Grant | Up to 5% of the total loan amount | No | View → |
| Homes for Texas Heroes Program | Grant | Up to 5% of the loan amount (between 3% and 5%) | No | View → |
| My First Texas Home | Forgivable Loan | Up to 5% of the first lien mortgage amount | Yes | View → |
| SETH 5 Star Texas Advantage Program | Forgivable Loan | Up to 5% of the loan amount | No | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $13,500 for existing homes; up to $24,000 for new construction
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home purchase with zero-interest, 30-year mortgage
- First-time only:
- No
- Type:
- Grant
- Amount:
- Up to 5% of the total loan amount
- First-time only:
- No
- Type:
- Grant
- Amount:
- Up to 5% of the loan amount (between 3% and 5%)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to 5% of the first lien mortgage amount
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to 5% of the loan amount
- First-time only:
- No
How to Apply
- Step 1:
Check your eligibility. The City of Odessa program requires household income at or below 80% of Area Median Income, ranging from $49,900 for one person to $82,800 for an eight-person household. You must be a first-time homebuyer or not have owned a home in the past three years.
- Step 2:
Complete homebuyer education. Attend a homebuyer education course provided by Odessa Affordable Housing, Inc. at 432-362-2349, located at 3801 N. Dixie Blvd, Odessa, TX 79762. This is a HUD-approved counseling agency offering services in English and Spanish.
- Step 3:
Contact an approved lender. The City of Odessa does not accept direct applications. You must work with a lender approved to participate in the city's program. The Community Development Department at 307 N. Lee Street can provide a list of approved lenders.
- Step 4:
Prepare your finances. You must provide 1% of the purchase price toward the home and have at least two months of principal and interest payments saved in a bank account prior to closing.
- Step 5:
Get pre-approved for a mortgage. In addition to the city program, ask your lender about state programs like My First Texas Home or Homes for Texas Heroes through TSAHC, which offer up to 5% of the loan amount toward your down payment.
- Step 6:
Find a home within program limits. Existing homes must be priced at or below $270,632. New construction must not exceed 95% of the HUD maximum. The home must be within Odessa city limits.
- Step 7:
Submit your application and close. Your approved lender will coordinate the city program paperwork alongside your mortgage. The city provides the assistance as a zero-interest deferred forgivable loan applied at closing.