Your First Home
Starts Right Here
Buying your first home in Midland or Odessa is one of the biggest decisions you'll ever make. We're going to make sure you never have to make it alone.
You're Closer Than
You Think
The biggest obstacle most first-time buyers face isn't the market — it's the belief that they can't afford it yet. In Midland and Odessa, there are real programs designed specifically to help local buyers make the move from renting to owning, often with far less money upfront than you'd expect.
The City of Midland has a local assistance program for first-time buyers. The State of Texas offers additional help through TSAHC and TDHCA. FHA loans are designed to get qualified buyers in the door with a lower upfront investment than most people realize. Stacy has helped buyers navigate every one of these programs for over 20 years — and she'll connect you with a trusted local lender who will walk through exactly what you qualify for.
Programs for First-Time Buyers
in Midland & Odessa
These are real, active programs with real money attached to them. All three are available to eligible buyers in Midland and Odessa right now. A good lender and a good agent can help you stack these programs to maximize what you get.
The City of Midland provides down payment and closing cost assistance as a zero-interest deferred forgivable loan for low-to-moderate income families buying within city limits. If you meet the conditions and stay in the home, the loan is forgiven over time.
The Texas State Affordable Housing Corporation offers down payment assistance as either a grant (no repayment required) or a zero-interest second mortgage forgiven after three years. Works with FHA, VA, USDA, and conventional loans. No need to be a first-time buyer in all cases.
The Texas Department of Housing and Community Affairs pairs a 30-year fixed-rate mortgage with up to 5% assistance for down payment and closing costs. Can also be combined with a Mortgage Credit Certificate providing up to $2,000 per year in federal tax credits.
In Texas, many first-time buyer programs define eligibility as not having owned a primary residence in the past three years — so even if you've owned before, you may still qualify. Program rules, income limits, and eligibility requirements can change, so always verify current details with a participating lender. Don't assume you don't qualify before asking — Stacy can point you in the right direction.
Loan Types Explained Simply
You don't need to be a finance expert to buy your first home. You just need to understand the basics — and find a lender who will walk you through the rest. Here are the three most common loan types for first-time buyers in Midland and Odessa.
Backed by the Federal Housing Administration, FHA loans are designed for buyers who are still building savings or credit. More flexible than conventional loans and easier to qualify for.
Not backed by the government, conventional loans reward buyers with stronger credit scores and savings. Once you build 20% equity, mortgage insurance goes away — saving you money long-term.
If you or your spouse have served in the military, a VA loan offers some of the best terms available — no down payment required, no mortgage insurance, and competitive interest rates.
Your Step-by-Step
Home Buying Roadmap
Every first-time buyer we work with asks the same question: "What happens first?" Here is exactly how the process works — from the first conversation to the day you get your keys.
Before you start browsing homes, have a free conversation with Stacy or a member of the team. We'll help you understand what programs you qualify for, what price range makes sense, and what to expect — so there are no surprises later.
Pre-approval tells you exactly how much home you can afford and makes sellers take you seriously. We connect you with trusted local lenders who know Midland and Odessa and understand the assistance programs available here.
Now the fun begins. With a clear budget and a great agent in your corner, we narrow your search to neighborhoods that fit your life — commute, schools, and the feel that's right for you.
When you find the one, we move fast. We help you structure a competitive offer and negotiate on your behalf — covering price, repairs, closing costs, and timing so you get the best possible deal.
Once your offer is accepted, a home inspector checks the property and the lender orders an appraisal. We walk you through every finding and help you decide what to request from the seller — protecting your investment before you close.
Closing day is the finish line. You'll sign the paperwork, pay closing costs (which may be covered by your assistance program), and receive the keys to your first home. We'll be there every step of the way.
Take this roadmap home with you.
You've just seen the path — programs, loan types, and the six steps from your first conversation to closing day. The Road to Home buyer's guide is that exact roadmap in a single PDF you can save, print, and reference whenever questions come up.
- Pre-approval explained — what lenders actually look at
- Down payment realities — what you need vs. what you think you need
- The Midland & Odessa market — what to expect when you start touring
- Inspection & closing — what to watch for and what to ask
The Road to Home.
The full buying process for Midland & Odessa — written for first-time and repeat buyers.
Get the Free GuideFirst-Time Buyer
Document Checklist
When you meet with a lender, bring these documents. Having everything ready speeds up your pre-approval and shows sellers you're serious. Save or print this list before your first meeting.
- Government-issued photo IDDriver's license or passport
- Social Security numberFor credit check and application
- Two years of tax returnsW-2s or 1099s depending on employment
- Last 30 days of pay stubsFrom your current employer
- Last 3 months of bank statementsAll accounts — checking, savings, retirement
- Employment historyTwo years minimum, contact info for employers
- Rental historyLandlord contact or 12 months of canceled rent checks
- Gift letter (if applicable)If any part of your down payment is a gift
Don't make any large purchases, open new credit accounts, or change jobs between pre-approval and closing. These actions can affect your credit score or debt-to-income ratio and put your loan at risk. When in doubt — ask Stacy first.
First-Time Buyer FAQ
Do I qualify as a first-time home buyer if I've owned before?
Possibly — in Texas, many first-time buyer programs define eligibility as not having owned a primary residence in the past three years. This means even if you owned a home years ago and have been renting since, you may still qualify. Program eligibility rules can vary, so the best way to know for sure is to check with a lender or ask Stacy directly.
Is there down payment assistance for first-time buyers in Midland?
Yes. The City of Midland has a local assistance program providing down payment and closing cost help for income-eligible first-time buyers within city limits. The State of Texas also offers programs through TSAHC and TDHCA that can help with down payment and closing costs. Eligibility and benefit amounts depend on your specific financial situation, the property, and current program funding. Stacy will connect you with a lender who works with all of these programs and can confirm exactly what's available to you.
What credit score do I need to buy my first home?
Credit score requirements vary by loan type and by individual lender — every lender sets their own standards on top of program guidelines. Generally speaking, a stronger credit score gives you access to better rates and more program options. If you're not sure where your credit stands, the best first step is a conversation with a trusted local lender. Stacy can connect you with one who will give you an honest picture of where you are and what it takes to get to where you want to be.
What is the difference between an FHA loan and a conventional loan?
FHA loans are backed by the federal government and designed for buyers who are earlier in their financial journey — they tend to have more flexible qualifying requirements. Conventional loans typically reward buyers with stronger credit profiles and can save money over time once you've built enough equity. The right choice depends entirely on your situation, which is why a conversation with a good lender is the essential first step. Stacy will connect you with someone who lays out both options side by side.
How long does it take to buy my first home?
Most first-time home purchases in Midland and Odessa take 45 to 60 days from an accepted offer to closing. The process starts before that — getting pre-approved by a lender typically takes a few days to a week. Starting your search before you're ready to move means you'll be prepared when the right home comes along.
Do I need a real estate agent to buy my first home?
You are not legally required to use an agent, but as a first-time buyer it is strongly recommended. A buyer's agent represents your interests — helping you navigate inspections, negotiations, financing conditions, and closing. In most transactions, the seller pays the buyer's agent commission, meaning you get professional representation at no cost to you.
First Home?
You don't have to figure this out alone. Stacy and the SGR team have helped hundreds of first-time buyers in Midland and Odessa go from renting to owning. A free conversation is the best first step — no pressure, no commitment, just real answers.
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