You are a smart buyer to take advantage of the buyers assistance programs. The city of austin has several that can help you. I suggest checking out their website: http://www.ci.austin.tx.us/ahfc/first_dpa.htm. Several of the Downpayment Assistance programs may be done away with soon due to some new legislation that may be passed shortly. So I would act sooner than later, if you are going that route.
Also I have a lender that will pay for your closing costs on a home purchase under $200K. Give me a call and I will give you his name and number. I wish you the best of luck on finding the perfect new home. Please call me if I can help you with this purchase.
You might give Michelle Breat with Supreme Lending a call. Her number is (512) 431-4082. She is excellent with all of the various down payment assistance programs.
Capital City Sotheby's International Realty
You can check out info from your lender or even the city of Austin's website. Here is the info.
If you have any questions please email or call me.
Hope this helps!
Congratulations on considering Austin for a home purchase! Below is a link to the City Website:
There are also other down payment assistance programs that your Realtor can help you with. They can allow up to 3% assistance from the seller with FHA.
Let me know if you need anymore help.
Ritch Haenke, Realtor(r)
Coldwell Banker, United