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El Paso Program Helps Renters Save for Down Payments
Rising rents squeeze budgets, so one program aims to turn renters into homeowners.
Mar. 12, 2026 at 1:56am
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As rent prices continue to climb in El Paso, the El Paso Housing Finance Corporation has created the Mi Casa Homebuyer Grant Program to help renters who are ready to purchase a home but need assistance with expenses such as a down payment and closing costs. The program is now looking for 35 renters to provide grants that can cover the full down payment and contribute towards closing costs, with the goal of expanding homeownership opportunities in the city.
Why it matters
With rents rising rapidly in El Paso, many renters are finding it increasingly difficult to save up for the upfront costs of buying a home. The Mi Casa program aims to address this challenge by providing financial assistance to help qualified renters overcome the biggest barriers to homeownership.
The details
The Mi Casa Homebuyer Grant Program offers grants to cover the full down payment required for certain government-backed mortgages, as well as contributions towards closing costs. Applicants must have a minimum credit score of 640, meet income limits, and purchase a home within El Paso city limits. So far, 77 homebuyers have received the grant, which is designed as a true grant that does not need to be repaid.
- The El Paso Housing Finance Corporation created the Mi Casa Homebuyer Grant Program in 2026.
- The program is currently seeking 35 renters to provide grants.
The players
El Paso Housing Finance Corporation
A local organization that created the Mi Casa Homebuyer Grant Program to help renters in El Paso become homeowners.
Evelyn Torres
A recent homebuyer who used the Mi Casa program, stating that rising rent pushed her to consider buying a home.
Elizabeth Moya
A staff member who works with the Mi Casa program, explaining the program's mission to expand homeownership opportunities in El Paso.
What they’re saying
“Part of our mission is we want to make sure that El Paso residents have the opportunity to become homeowners themselves.”
— Elizabeth Moya, Program staff member (KFOX14)
“I mean, it was getting almost the price increases every time the lease would renew. It would just keep on skyrocketing, and it pushed me to a point where I'm like, I can definitely make a house payment with what I'm paying for rent.”
— Evelyn Torres, Recent homebuyer (KFOX14)
What’s next
The El Paso Housing Finance Corporation is currently accepting applications for the Mi Casa Homebuyer Grant Program, and is looking to provide grants to 35 qualified renters.
The takeaway
The Mi Casa program in El Paso is an innovative approach to addressing the challenges of rising rents and the barriers to homeownership. By providing financial assistance to cover down payments and closing costs, the program is helping renters overcome the upfront costs and turn their monthly payments into homeownership.
