Family · Texas
Co-Borrower / Parent-Assisted in Texas
Helping your child buy their first Texas home — or asking a parent to help you? Co-borrower and gift-funds programs make it easy.
Common challenges we solve
- Child has limited income or credit
- Want to gift the down payment
- Parents don't want title liability long-term
What you get with Lumos
Non-occupant co-borrower programs
Gift funds for full down payment
Refi later to remove the parent from the loan
What's different in Texas
In Texas the homestead exemption goes to the owner who occupies the home as a primary residence. Texas is a community-property state, so if the buyer is married, the spouse may need to sign certain documents even if they're not on the loan.
Loan programs that typically fit
Frequently asked
- Does the parent need to be on title?
- On FHA they go on the loan; you choose whether they're also on title.
- Can the gift cover everything?
- Yes — on most owner-occupied programs the entire down payment can be gifted.
