Irving is located between Dallas and Fort Worth, allowing residents to enjoy the commuting benefits of both cities. According to Redfin, the recent median sale price is $383,000 as of May 2026, which is lower than Dallas's $420,000 and higher than Fort Worth's $338,000.

If you are preparing a down payment based on $383,000, there are several items to check in order.

• With an FHA loan at 3.5%, the down payment would be $13,405; if your credit score is below 580, it would be 10%, or $38,300.
• For a conventional loan with a minimum of 3%, the down payment would be $11,490, but if it's less than 20%, PMI will apply.
• To start without PMI, you would need 20%, which is $76,600.
• Eligibility for local down payment assistance programs.

As we go through each item, remember that your credit score affects eligibility, and while conventional loans allow for lower down payments, they come with the additional cost of PMI. Many assume a 5% down payment of $19,150, which would also be subject to PMI. If you reach 20%, PMI will be eliminated, but it takes time to save that amount.

If you save the 20% of $76,600 and apply a 6.6% interest rate, your principal and interest would be around $1,960 per month. Since property taxes and insurance are added monthly, including this item in your checklist will help with budgeting.

It's also worth checking Irving's down payment assistance program. First-time homebuyers who earn 80% or less of the area median income and have not owned a home in the last three years can receive up to $50,000 in zero-interest deferred loans for down payment and closing costs. The application process is through approved lenders, so it's helpful to know which banks participate in advance.

Creating an application account to check eligibility is also a good step. You can quickly assess your application potential by checking if you meet the income limits and if you have owned a home in another state in the last three years.

If you are coming from another state, you should also include property tax in your checklist. Texas has no state income tax, but the average effective property tax rate is around 1.6%, which is among the highest in the nation. If you budget based on a state with income tax, the monthly escrow amount may feel significantly higher than expected.

To increase your approval chances, there are a few more items to check. First is your credit score; as of July 2026, a score above 780 has an interest rate of 6.59%, in the 760s it's 6.66%, in the 740s it's 6.75%, and in the 700s it's 6.91%. Second is your DTI; ideally, the back-end should be below 43%, and the front-end housing expense should be below 28%.

Third, getting pre-approved in advance is important, and fourth, you should have stable income documentation through pay stubs and tax returns. Lastly, avoid new loans or job changes before closing, and having a reserve fund equivalent to a few months' payments will reflect stability during the review process.

Fifth, consider adding a spouse or family member as a co-applicant to combine incomes and lower the DTI. Getting pre-approval from two or three places can help you find better terms.

Finally, it's wise to keep a reserve fund in your account equivalent to a few months' payments after closing. By checking off this list step by step, you can reduce potential roadblocks in the approval process, and having your documents ready can shorten the time from contract to closing. Developing the habit of going through these steps in order is ultimately the best way to increase your chances of approval.

This article is not investment or legal advice, and programs and rates may change over time, so please verify with a professional before making any agreements.