I'm Bond Peter Njoku (NMLS #2670329) and I help first-time buyers purchase homes in Frisco — one of the fastest-growing cities in the United States. Frisco ISD is consistently ranked among the top school districts in Texas, Toyota Stadium anchors a thriving entertainment district, and Collin County continues to attract major employers. Median home prices run $500,000–$650,000, which intimidates a lot of first-time buyers who assume they can't compete here. But the 2026 FHA loan limit covers purchases up to $563,500 in Frisco, and Collin County's DPA income limit of $119,700 keeps many two-income households eligible for up to $25,000+ in grant assistance. Here's exactly how it works.
What first-time homebuyer programs are available in Frisco TX?
Frisco is in Collin County, which gives buyers access to the two largest state-funded DPA programs in Texas:
TSAHC Home Sweet Texas — a grant of 3–5% of the loan amount, never repaid. On a $520,000 Frisco purchase with 5% down FHA ($26,000 down), a 5% TSAHC grant of $26,000 covers the full down payment. You'd still owe closing costs, but sellers in Frisco can credit up to 6% under FHA. Requires a 620 FICO and income at or below $119,700 for a Collin County household of 1–4 people. No first-time buyer requirement — TSAHC is available even if you've owned before.
TDHCA My First Texas Home — up to 5% as a deferred second loan, forgiven at year 3. Same income limit and credit floor as TSAHC. Requires the buyer to be purchasing their first home (or a veteran re-entering the market after 3+ years without ownership). Pairs with FHA, conventional, or VA loans.
These programs matter more in Frisco than in lower-cost DFW markets because the dollar amounts are larger — 5% of $520,000 is $26,000, compared to 5% of $320,000 being $16,000. In a market like Frisco, that grant can be the difference between buying now and waiting two more years to save.
FHA vs conventional in Frisco TX — which makes more sense?
| Feature | FHA | Conventional | VA |
|---|---|---|---|
| Min down payment | 3.5% | 3% | 0% |
| Min credit score | 580 | 620 | 580 (lender) |
| Monthly mortgage insurance | Life of loan (0.55% annually) | Until 80% LTV, then cancels | None |
| 2026 loan limit in Frisco | $563,500 | $806,500 | No limit |
| Eligible for TSAHC grant? | Yes (620+) | Yes (620+) | Yes (rarely needed) |
| DPA income limit (Collin) | $119,700 | $119,700 | N/A |
Frisco's higher home prices make the FHA vs conventional decision more nuanced than in lower-cost cities. If the home you're targeting is under $563,500, FHA with TSAHC is often the most efficient path — especially for buyers at 580–679 FICO. If you're at 680+ and the home is priced $500K–$800K, conventional gives you a clear path to PMI cancellation and often a better total cost over time despite the higher down payment.
What will my mortgage payment be on a Frisco TX home?
At a $530,000 purchase price with 5% down FHA at 7.0% on a 30-year fixed:
- Purchase price: $530,000
- Down payment (5%): $26,500
- Loan amount: $503,500
- Principal & interest: approximately $3,351/month
- FHA annual MIP (0.55%): approximately $231/month
- Collin County property taxes (~1.5%): approximately $663/month
- Homeowners insurance: approximately $175/month
- Total PITI: approximately $4,420/month
With a TSAHC 5% grant ($26,500), the down payment is fully offset. Closing costs on a $530,000 Frisco purchase typically run $9,000–$12,000. FHA allows the seller to contribute up to 6% ($31,800) toward closing — which means you could, in theory, close with $0 out of pocket if the seller cooperates and your grant covers the down payment.
Can I actually afford to buy in Frisco as a first-time buyer?
The income needed to comfortably carry that $4,420/month PITI (at a 43% DTI) is roughly $123,000 combined gross income. That's above the $119,700 DPA income limit — so buyers right at that threshold face a timing question: qualify for the grant now at a slightly smaller home, or save for conventional and buy a pricier home later without DPA.
Last year I helped a Frisco couple — one software engineer and one nurse, combined income of $117,000 — buy a $495,000 townhome. Their 658 FICO qualified for FHA, and we layered TSAHC's 5% grant ($24,750) to zero out the down payment. The seller covered $9,000 in closing costs, and they brought $5,200 to closing: home inspection, appraisal, and first-year homeowners insurance paid upfront. Their PITI came to $4,180/month — $400 less than their rental in Frisco's rental market had been.
What credit score do Frisco first-time buyers need?
| Program | Min FICO | Notes |
|---|---|---|
| FHA loan | 580 | 3.5% down; 10% required at 500–579 |
| Conventional loan | 620 | 3–5% down; PMI cancels at 80% LTV |
| TSAHC grant | 620 | Stacks with FHA or conventional |
| TDHCA deferred second | 620 | Requires first-time buyer status |
| VA loan | 580 (lender min) | 0% down, no MIP |
How do I start the process as a first-time buyer in Frisco?
- Pre-approval call (15 minutes): I review your income, credit, and assets and tell you which programs you qualify for that day — no obligation.
- Pre-approval letter (1–2 days): Required in Frisco's market before touring or making offers. Serious offers in Frisco come with full documentation.
- Home search with a DPA-friendly realtor (2–8 weeks): I'll connect you with a local Frisco agent who knows which sellers are open to FHA offers and seller credits.
- Under contract to close (30–45 days): FHA with DPA closes in 35–45 days. I manage the timeline so nothing slips on the grant side.
Frequently Asked Questions
What first-time homebuyer programs are available in Frisco TX in 2026?
I'm Bond Peter Njoku (NMLS #2670329) and Frisco buyers can access TSAHC Home Sweet Texas (3–5% grant, never repaid) and TDHCA My First Texas Home (up to 5% deferred, forgiven at year 3). Both require 620 credit and $119,700 or less in household income for Collin County. In Frisco, where prices average $500K–$650K, a 5% TSAHC grant can be $25,000–$32,500 — enough to cover the full FHA down payment. Call or text me at 469-545-7180 to find out what you qualify for.
Can I use FHA to buy a home in Frisco TX in 2026?
I'm Bond Peter Njoku (NMLS #2670329) and yes — the 2026 FHA loan limit for Collin County is $563,500, which covers most entry-level Frisco homes. Frisco prices are higher than average, so if you're shopping above $563,500 you'd need conventional financing. FHA allows a 580 credit score for 3.5% down and pairs with TSAHC's grant, so many Frisco first-time buyers use FHA + TSAHC to eliminate the down payment. Call me at 469-545-7180 to check if the home you're considering fits within FHA limits.
How much down payment do I need to buy in Frisco TX?
I'm Bond Peter Njoku (NMLS #2670329) and with FHA it's 3.5% — on a $520,000 Frisco home that's $18,200. Stack TSAHC's 5% grant ($26,000) and the down payment is covered in full. Closing costs typically run $9,000–$12,000 on a Frisco purchase, but FHA allows sellers to pay up to 6% toward closing. Most of my Frisco first-time buyers close with $5,000–$9,000 out of pocket after combining grants with seller credits. Text me at 469-545-7180 for a specific number.
Is Frisco TX too expensive for first-time buyers?
I'm Bond Peter Njoku (NMLS #2670329) and Frisco is one of the pricier DFW suburbs — median prices run $500K–$650K — but first-time buyers can still compete, especially under the $563,500 FHA limit. The $119,700 Collin County DPA income limit covers most dual-income households, and the TSAHC grant program can contribute $20,000–$30,000 toward the purchase, which dramatically reduces the cash needed to close. It's harder here than in Garland or Mesquite, but it's doable with the right structure. Text me at 469-545-7180 and let's see what's realistic.
Ready to buy your first home in Frisco?
I'm Bond Peter Njoku (NMLS #2670329). I help Frisco first-time buyers navigate one of DFW's most competitive markets — finding the right loan structure and stacking grant programs to make the numbers work. Call or text me at 469-545-7180, message me on WhatsApp, or start your pre-approval online.