How Do You Buy Your First Home in Waxahachie?
Start with a lender pre-approval, then pick an agent before you tour anything. In Texas you'll sign a written buyer agreement before your first showing. From there, look at both new builds and resale homes in Waxahachie and around Ellis County, and ask your lender about Texas down payment assistance, which can cover up to 5 percent of your loan.
What are the steps to buying your first home?
| Step | What happens | About how long |
|---|---|---|
| 1. Get pre-approved | A lender checks income, credit and savings and gives you a budget | A few days |
| 2. Sign with an agent | Texas requires a written agreement before your first showing | One meeting |
| 3. Tour and offer | Resale homes and new builds; your agent writes the offer | Weeks, depends on you |
| 4. Option period | Inspect and decide; you can back out for any reason during this window | Usually 5 to 10 days |
| 5. Appraisal and loan approval | The lender orders the appraisal and finishes underwriting | 2 to 4 weeks |
| 6. Closing | Sign at the title company and get your keys | Often 30 to 45 days after the contract |
Is there down payment help in Texas?
Yes. Two state programs are worth asking about:
- TDHCA (Texas Department of Housing and Community Affairs): My First Texas Home and My Choice Texas Home offer up to 5 percent for down payment and closing costs, with a 620 minimum credit score and a homebuyer education course. Income and price limits apply by county.
- TSAHC (Texas State Affordable Housing Corporation): Home Sweet Texas and Homes for Texas Heroes offer up to 5 percent of the loan amount as a grant or a forgivable second loan. Homes for Texas Heroes is for teachers, police, firefighters, EMS, corrections officers, nursing faculty and veterans. First-time buyers can also add a Mortgage Credit Certificate, a federal tax credit worth 15 percent of the mortgage interest you pay each year.
You apply through a participating lender, so tell your lender up front that you want to be checked for these.
What credit score do you need?
It depends on the loan. FHA allows maximum financing with a score of 580 or higher (FHA has announced changes for case numbers starting January 1, 2027, so ask your lender). The state down payment programs above start at 620 for government loans and 640 for conventional loans. Lenders can set their own higher minimums.
New build or resale for a first home?
Both can work. Several Waxahachie new-build communities start under $400,000, and builders are offering rate buydowns and closing cost help on finished homes. Resale homes in Waxahachie's established neighborhoods can offer bigger lots and no PID. Compare the full monthly payment, including taxes, PID and HOA, not just the price. See our guide to new construction homes in Waxahachie under $400K.
Why have your own agent?
Your agent negotiates for you, catches problems in the contract and keeps your deadlines. On a new build, the builder's sales rep works for the builder. Dave also runs a general contracting and metal roofing business, so he walks a house, new or old, with a builder's eye and can tell you which inspection notes matter.
FAQ
How much do I need saved to buy my first home?
It depends on the loan and the price. Plan for the down payment, closing costs, the option fee and earnest money, plus a cushion for moving. Down payment assistance can cover part of it.
Can I use down payment assistance on a new build?
Often yes, as long as the home, your income and the price fit the program's limits and the builder's lender participates. Ask before you sign the builder's contract.
Do I have to sign something before touring homes with an agent?
Yes. Since January 1, 2026, Texas requires a written agreement before an agent shows you a home. It spells out the services, the end date and how the agent is paid, and states that compensation is negotiable.
How long does it take to buy a first home?
From pre-approval to keys, many first-time buyers take about two to three months: a few weeks to find the right home and 30 to 45 days to close.
Related: Waxahachie new construction | Waxahachie homes | Ellis County market snapshot | Sell your current home
Buying your first home in Ellis County? Start with a quick call.
Milestone Real Estate Group, INC Realty. Program details, credit rules and builder prices change often; confirm with your lender and with Dave before you act.