I'm Bond Peter Njoku (NMLS #2670329) and I help first-time buyers close on homes in Lewisville every month. Lewisville sits on Denton County's Lake Lewisville shoreline, offering a lake lifestyle within easy reach of both Dallas and Fort Worth, with median home prices running $310,000–$390,000. As part of Denton County, Lewisville buyers qualify for a $119,700 down payment assistance income limit — one of the more generous thresholds in the DFW area. Here's what first-time buyers in Lewisville need to know for 2026.
What first-time homebuyer programs are available in Lewisville TX in 2026?
Lewisville buyers have four main paths to homeownership, and I check every client against all of them:
TSAHC Home Sweet Texas — a grant of 3–5% of the loan amount, never repaid. Available at Denton County's $119,700 income limit for a 1–4 person household. Requires 620 FICO minimum. No first-time buyer requirement.
TDHCA My First Texas Home — up to 5% deferred, forgiven at year 3. Same $119,700 Denton County income cap. Requires first-time buyer status or veteran re-entry.
FHA loans — 3.5% down at 580 FICO, or 10% down at scores as low as 500. Stacks with either DPA program above.
Conventional loans — as little as 3% down for qualified first-time buyers with 620+ FICO, with PMI that drops off once you hit 80% loan-to-value.
How do loan programs compare for Lewisville first-time buyers?
| Feature | FHA | Conventional | With TSAHC Grant |
|---|---|---|---|
| Min down payment | 3.5% | 3% | 0% out of pocket |
| Min credit score | 580 | 620 | 620 |
| Monthly mortgage insurance | Life of loan | Until 80% LTV | Same as base loan type |
| 2026 loan limit | $563,500 | $806,500 conforming | N/A |
| DPA income limit (Denton County) | $119,700 | $119,700 | $119,700 |
| Repayment | N/A | N/A | Never repaid |
Lewisville's proximity to both DFW International Airport and major employment corridors in Las Colinas and southern Denton County makes it a popular commuter city, and the $119,700 DPA income limit accommodates many dual-income households working those jobs.
What will my mortgage payment be on a Lewisville TX home?
At Lewisville's median of roughly $350,000, here's a 3.5% down FHA purchase at 7.0% on a 30-year fixed:
- Purchase price: $350,000
- Down payment (3.5%): $12,250
- Loan amount: $337,750
- Principal & interest: approximately $2,247/month
- FHA annual MIP (0.55%): approximately $155/month
- Denton County property taxes (~1.8%): approximately $525/month
- Homeowners insurance: approximately $145/month
- Total PITI: approximately $3,072/month
With a TSAHC 5% grant ($17,500), the down payment is fully covered with money remaining for closing costs. Closing costs on a $350,000 Lewisville purchase typically run $6,000–$8,500, and FHA allows sellers to contribute up to 6% ($21,000) toward those costs.
Does buying near Lake Lewisville affect my insurance or financing?
Homes near Lake Lewisville itself may sit in or near a flood zone, which can require flood insurance in addition to standard homeowners coverage — I always check FEMA flood maps before locking in a payment estimate for lakefront or near-lake listings. Homes elsewhere in the city carry standard insurance costs. Beyond that, FHA, conventional, and DPA programs all apply the same way regardless of proximity to the lake, so financing terms don't change — only your total housing cost might, depending on flood zone designation.
Earlier this year I helped a family relocating to Lewisville for work near the DFW Airport corridor — combined income of $94,000, 660 FICO, targeting a $360,000 home a few miles from the lake. Their income qualified comfortably under Denton County's $119,700 limit, and we used TSAHC's 5% grant ($18,000) to cover their down payment on an FHA loan. They closed with $2,400 out of pocket after a seller credit covered most remaining closing costs.
How do I get started with a mortgage in Lewisville?
- Pre-approval call (15 minutes): I review your income against the $119,700 Denton County DPA limit and tell you which programs you qualify for, same day.
- Pre-approval letter (1–2 days): Lewisville listing agents expect a letter before scheduling showings, especially on well-priced homes near the lake.
- Home search (2–5 weeks): I coordinate with your agent so financing and DPA requirements never hold up an accepted offer.
- Under contract to close (30–45 days): FHA with DPA typically runs 35–45 days; conventional closes in 30–40 days.
Frequently Asked Questions
What first-time homebuyer programs are available in Lewisville TX in 2026?
I'm Bond Peter Njoku (NMLS #2670329) and Lewisville buyers in Denton County can access TSAHC Home Sweet Texas (a 3–5% grant that's never repaid), TDHCA My First Texas Home (up to 5% deferred, forgiven at year 3), FHA loans from 580 FICO, and conventional loans from 620 FICO with as little as 3% down. Lewisville's Denton County DPA income limit is $119,700. Call or text me at 469-545-7180 to see which programs fit your income.
How much does a home near Lake Lewisville cost?
I'm Bond Peter Njoku (NMLS #2670329) and Lewisville's median home price runs $310,000–$390,000, with lakefront and near-lake properties typically at the higher end of that range. At $350,000 with FHA 3.5% down ($12,250), your principal and interest at 7.0% is approximately $2,213/month. Add Denton County taxes (~1.8%, about $525/month) and insurance (~$145/month) for a PITI of roughly $3,036/month, plus FHA MIP. Text me at 469-545-7180 for a payment estimate on a specific listing.
How much down payment do I need for a home in Lewisville TX?
I'm Bond Peter Njoku (NMLS #2670329) and at Lewisville's median price of roughly $350,000, FHA requires 3.5% down ($12,250) and conventional can go as low as 3% ($10,500). A TSAHC 5% grant on the FHA scenario ($17,500) covers the full down payment with room left toward closing costs. Most first-time buyers I work with in Lewisville bring $2,800–$5,500 total to closing after stacking a grant with seller concessions. Text me at 469-545-7180 for your exact numbers.
What credit score do I need to buy a house in Lewisville TX?
I'm Bond Peter Njoku (NMLS #2670329) and FHA loans in Lewisville require a minimum 580 FICO for 3.5% down, or as low as 500 with 10% down. Conventional loans start at 620 FICO. TSAHC and TDHCA down payment assistance both require a minimum 620 score. If your score is below 620, I typically start clients on an FHA path while we work on credit improvement to open up DPA options later. Call or text me at 469-545-7180 to review your credit profile.
Ready to buy your first home in Lewisville?
I'm Bond Peter Njoku (NMLS #2670329). I help Lewisville first-time buyers stack TSAHC and TDHCA grants with FHA and conventional loans to close with the least cash possible. Call or text me at 469-545-7180, message me on WhatsApp, or start your pre-approval online.