by Bess Freedman | Jun 9, 2025 | Industry, News Feed
As Hall Willkie steps into a consultant role at Brown Harris Stevens, CEO Bess Freedman reflects on the impact of her mentor.
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When the Michael Jordan of real estate asks you to come and work with him, you can’t say no. That’s why I came to Brown Harris Stevens some 13 years ago.
The opportunity to work with and learn from Hall Willkie was once in a lifetime. And while he is stepping into a new full-time consultancy role at BHS, he is still going to be part of the fabric of this company, working with and mentoring our agents as he has done so successfully for the past 37 years.
Forget the fact that his uncle, Wendell Willkie, ran for President back in 1940, and that Hall lived all over the world. In truth, Hall is a simple guy, a farmer, a perfectionist, a neat freak, an elegant, blue-eyed charmer who loves real estate and putting deals together.
When I first joined BHS, Hall took me on a tour of all the offices in NYC and he would straighten the magazines, window displays, even dust off counters and hide ugly wires from view.
I thought, “How is this the president of the company?!” He really rolls up his sleeves and cares about the details. I never saw this type of focused dedication at my prior company. I was used to corporate ladders with many layers between the executives and the agents. Hall was never like that — he was an open door, full access type of leader.
Back when I first came to BHS, Hall was in remission from cancer, and he shared with me that he had met this young man, aged 13, Eric Martinez, and his family while he was going through chemo treatments. Eric had brain cancer.
Hall knew I spoke Spanish and asked me to accompany him to visit the family in Brooklyn. We were soon making regular trips there to visit Erik, who was sadly deteriorating. Hall felt a true desire to send and spread some love into their family, which we did until Erik died some five months later.
This is the Hall Willkie that no one knows, except for me and a few of his very close friends. He walks into the room with an open heart, a big smile, and a willingness to do anything and everything to make the world a little bit better.
To this day, he still walks into an open house and will look at things and say, “This should be moved; that could be changed.” He always figures out a way to make the room look better. Hall started BHS with just 34 agents in NYC, and the company has now grown to over 2,300 agents across four states. His sterling reputation made this all possible.
He is a giant in the real estate world. Iconic. A generous soul who helps everyone. He understands the value of relationships more than anyone else I know. I have learned so much about selling, working with people, the super high end of the market and discretion. About taking care of people, putting the clients’ needs first, quality over quantity and doing the right thing.
Hall is the G.O.A.T — the true MVP. He’s successful in real estate because he puts people first. He never leads with transactions or business in mind. He goes above and beyond that, and today’s real estate leaders could really take a page or two from his playbook.
No matter how much tech and AI and algorithms may infiltrate this business, at its core is the ability to connect. No one is better at this than Hall Willkie. At BHS, we are fortunate to be able to lean on his values and teachings for many years to come.
by Bess Freedman | May 9, 2025 | News Feed
First-time homebuyer programs in Austin
Buying your first home in Austin can feel like a high-wire act: prices are still elevated compared to pre-2020 norms, property taxes matter more than many newcomers expect, and competition can heat up quickly in the spring. The good news is there are solid first-time buyer programs, homebuyer assistance Austin options, and TX down payment help resources that can make the numbers work—especially if you understand how loans, grants, and tax incentives fit together.
This guide breaks down the most common Austin housing programs, statewide assistance, and lender-backed options. You’ll also find eligibility basics, step-by-step application tips, and direct links to apply—without sending you to competitor sites.
How Austin first-time homebuyer help works (loans vs. grants vs. tax incentives)
Most buying help Austin falls into one of three buckets. Knowing the differences will help you compare offers and avoid surprises at closing.
1) Affordable loan programs
These reduce barriers through lower down payments, flexible credit standards, or below-market interest rates in certain scenarios. Examples include FHA loans Austin, VA, USDA, and some state-sponsored first-time buyer mortgages.
2) Down payment and closing cost assistance
Assistance may come as a grant (no repayment) or a second lien/forgivable loan (repayment only if you sell/refinance too soon or don’t meet terms). These are the most popular forms of TX down payment help and can be key to an affordable mortgage Austin plan.
3) Tax incentives
Texas doesn’t have a state income tax, but you may still benefit from property tax relief (like the homestead exemption) and, in some cases, mortgage credit programs. These incentives can reduce your monthly payment or annual tax burden—especially important in Travis and Williamson counties where property taxes can be a major part of housing costs.
City of Austin: Austin Housing Finance Corporation (AHFC) programs
The City of Austin’s primary hub for local assistance is the Austin Housing Finance Corporation (AHFC). These Austin housing programs commonly focus on down payment assistance, homebuyer education, and income-based eligibility.
What AHFC typically offers
- Down payment assistance to help cover upfront costs (often structured as a second lien and may be forgivable if requirements are met).
- Homebuyer education requirements to prepare first-time buyers for budgeting, escrow, and maintenance.
- Income- and purchase-price limits based on household size and program rules.
Who it’s designed for
AHFC support often aligns with low-income home programs and moderate-income households, but the exact cutoffs can change by funding cycle. In practice, eligibility tends to depend on:
- Household income relative to Area Median Income (AMI)
- Home location (some programs focus on Austin city limits)
- Home type (often primary residence; condos/townhomes may be allowed depending on rules)
- Completion of approved homebuyer education
How to apply (step-by-step)
- Step 1: Review current program availability. Local funding can open/close based on demand and budgets.
- Step 2: Take a required homebuyer education course if the program requires it.
- Step 3: Get mortgage pre-approval from a participating lender (if required) and ask the lender how AHFC assistance is layered into your loan.
- Step 4: Submit your application with income documentation (pay stubs, tax returns, bank statements) and any additional forms.
- Step 5: Shop for a home within program limits and follow the required inspection and underwriting process.
Apply / learn more: City of Austin Housing Department and Austin Housing Finance Corporation (AHFC)
Texas statewide help: TSAHC and TDHCA programs
If you’re looking beyond city-specific options, Texas offers strong statewide new buyer resources through housing agencies. These are often the backbone of homebuyer assistance Austin because they can be used across the Austin metro (assuming the home and borrower meet requirements).
Texas State Affordable Housing Corporation (TSAHC)
TSAHC is widely used for down payment help and mortgage credit options. These programs can be a fit for buyers who need grants for buyers TX or a structured assistance plan tied to a first mortgage.
- Down payment assistance that may be structured as a grant or a second lien (terms vary by program and lender).
- Mortgage Credit Certificate (MCC) options in certain cases, which can provide a federal tax credit on a portion of mortgage interest (eligibility and caps apply).
- First-time buyer requirements may apply depending on program selection (some options also serve repeat buyers in targeted areas).
Apply / learn more: TSAHC Homebuyer Programs
Texas Department of Housing and Community Affairs (TDHCA)
TDHCA supports homeownership through approved lenders and program guidelines that can include down payment assistance. Many buyers first encounter TDHCA options through their lender’s “DPA” menu.
- Assistance is usually paired with a first mortgage through participating lenders.
- Eligibility rules often include income limits and purchase price limits.
- Homebuyer education may be required.
Apply / learn more: TDHCA Homeownership Programs
FHA loans in Austin: a popular first-time buyer tool
FHA loans Austin remain one of the most practical first-time buyer programs because they combine a low minimum down payment with more flexible credit guidelines than many conventional loans. In Austin, FHA can be especially helpful for buyers who have strong income but limited savings after rent and moving costs.
FHA basics (what to know)
- Down payment: Often as low as 3.5% with qualifying credit and income documentation.
- Mortgage insurance: FHA includes upfront and monthly mortgage insurance premiums (MIP), which affect your payment.
- Property standards: FHA appraisals can flag health/safety issues (peeling paint, missing handrails, roof concerns), which may require repairs before closing.
Pros and cons for Austin buyers
- Pros: Lower down payment, flexible credit, can pair with TX down payment help in many cases.
- Cons: Mortgage insurance can raise monthly costs; competitive Austin listings may prefer conventional offers; the property condition rules can complicate fixer-uppers.
Apply / learn more: HUD: Learn about FHA loans
Other loan options that can improve affordability in Austin
An affordable mortgage Austin strategy isn’t one-size-fits-all. Depending on your background and where you’re shopping, one of these options could be a better fit than FHA.
Conventional loans with low down payment
- Some conventional programs allow low down payments for qualified buyers.
- Mortgage insurance can be cancellable later, unlike FHA MIP in many cases.
- Often viewed as “stronger” in multiple-offer situations, which can matter in popular Austin neighborhoods during spring and early summer.
VA loans (for eligible veterans and service members)
- Potential for 0% down and no monthly mortgage insurance.
- Competitive option in Austin when paired with strong underwriting and clean contract terms.
Apply / learn more: VA Home Loans
USDA loans (for eligible rural/suburban areas)
USDA loans can offer 0% down in eligible zones. In the Austin region, eligibility depends heavily on the property location, so it’s most relevant on the metro’s outskirts.
Apply / learn more: USDA Rural Development Home Loans
Down payment assistance and grants: what “free money” really means
Many buyers search for grants for buyers TX and expect a check with no strings attached. In reality, most homebuyer assistance Austin is structured to encourage long-term homeownership—meaning you may need to live in the home for a minimum period or meet resale/refinance rules.
Common forms of assistance
- True grants: No repayment required if you meet terms (often tied to approved lenders and occupancy rules).
- Forgivable second loans: The balance is forgiven over time if you remain in the home as your primary residence.
- Deferred-payment second liens: No monthly payment, but repayment due when you sell, refinance, or pay off the first mortgage.
Green flags (good signs) when comparing assistance offers
- Clear written terms about forgiveness/repayment triggers
- Transparent list of participating lenders and timeline expectations
- Reasonable homebuyer education requirements that improve long-term success
Red flags to watch for
- Vague language about fees or repayment
- Pressure to use a specific lender without explaining alternatives
- Assistance that forces a significantly higher interest rate without showing the total cost comparison
Tax incentives and savings for Austin homeowners
While “tax incentives” look different in Texas than in many states, there are still meaningful savings opportunities—especially with property taxes.
Texas homestead exemption (big for monthly budgeting)
If the home is your primary residence, you may qualify for a homestead exemption, which can reduce the taxable value for school district taxes and may provide other local benefits. This can improve cash flow and help keep your payment more predictable.
Apply / learn more: Texas Comptroller: Residence Homestead Exemption
Mortgage Credit Certificates (MCCs)
In some cases, a Mortgage Credit Certificate can provide a federal tax credit on a portion of the mortgage interest you pay (rules and limits apply). TSAHC is a common pathway Texans explore for MCC availability.
Apply / learn more: TSAHC Mortgage Credit Certificate (MCC)
Eligibility requirements: what most programs look for
Specific rules vary by program, but many first-time buyer programs and low-income home programs in the Austin area share a familiar checklist.
- First-time homebuyer status: Often defined as not owning a home in the last three years (some programs have exceptions).
- Income limits: Based on household size and region (Austin’s limits can differ from other Texas markets).
- Purchase price limits: Some assistance caps the maximum home price.
- Occupancy: Typically must be your primary residence (not an investment or second home).
- Credit and underwriting: Minimum credit score, stable income, and acceptable debt-to-income (DTI) ratios.
- Homebuyer education: Often required, especially for down payment assistance.
- Eligible property type: Single-family homes are commonly eligible; condos may require extra review (HOA, FHA approval where applicable).
How to apply: a simple step-by-step playbook for Austin buyers
Here’s a practical workflow that keeps you organized and improves your odds of actually receiving the assistance—important in a market where timing matters.
Step 1: Start with a realistic monthly payment target
In Austin, it’s easy to focus on sale price and forget property taxes, insurance, and HOA dues. Ask a lender to estimate your “all-in” payment (PITI + HOA) so you know what’s comfortable.
Step 2: Get pre-approved (not just pre-qualified)
Pre-approval typically means a lender reviewed your income, assets, and credit more thoroughly than pre-qualification. In competitive pockets of Austin—especially during spring/summer—pre-approval can strengthen your offer.
- Tip: Tell your lender upfront you want to explore homebuyer assistance Austin and TX down payment help so they can match you with compatible programs.
Step 3: Confirm program compatibility before you shop
Not every lender participates in every program, and not every assistance program stacks with every loan type. Confirm:
- Whether the lender is approved for TSAHC/TDHCA/AHFC (as applicable)
- Whether the assistance is a grant, forgivable loan, or deferred lien
- Any purchase price or neighborhood restrictions
Step 4: Take the required homebuyer education early
Classes can be quick, but completion certificates and program uploads can add time. Doing this early prevents last-minute delays during option period and underwriting.
Step 5: Make a smart offer with Austin seasonality in mind
Austin tends to be more competitive in spring and early summer, with some cooling in late summer and around the winter holidays. That doesn’t guarantee lower prices, but you may see:
- More choices (and more competition) in spring
- Potentially more negotiation room when listings sit longer in hotter months or during year-end slowdowns
Step 6: Don’t skip the inspection—use it strategically
Even with assistance, inspections are one of the best protections for first-time buyers.
- Green flag: Seller provides recent receipts for major systems (roof, HVAC, foundation work) and allows reasonable inspection access.
- Red flag: Repeated water intrusion signs, widespread DIY electrical work, or foundation movement without documentation.
Step 7: Track timelines closely through underwriting and closing
Assistance programs can add an extra layer of review. Keep your file moving by responding quickly to lender requests and avoiding major financial changes (new car loan, job switch, large undocumented deposits).
Common mistakes first-time buyers make with assistance programs
- Assuming all “DPA” is a grant: Many programs require repayment or have forgiveness schedules.
- Not budgeting for taxes and insurance: In Central Texas, these can shift the payment more than buyers expect—especially if the home’s taxable value resets after a sale.
- Waiting too long to start: Education certificates, lender approvals, and program reservations can take time.
- Buying at the top of the budget: Leaving no room for maintenance, utilities, and Austin’s occasional surprise costs (tree work, drainage, HVAC replacements).
Quick links: where to apply for Austin and Texas programs
Putting it all together: choosing the right program for your situation
The best first-time buyer programs in Austin are the ones that match your timeline, income, and home search area—not just the biggest headline benefit. A solid rule of thumb is to compare two to three paths side-by-side: for example, FHA loans Austin with down payment assistance, a conventional low-down-payment option, and a TSAHC/TDHCA assistance package through a participating lender.
If you’d like a simple next step: start with pre-approval, ask your lender to run a payment comparison that includes taxes and insurance, and then verify which Austin housing programs and statewide assistance options you qualify for. That combination is often the difference between “almost ready” and confidently closing on your first home.
by Bess Freedman | Aug 29, 2024 | Industry, News Feed
Find out how this third-generation broker’s passion for all things real estate-related informs her work with clients and colleagues.
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For third-generation broker and property manager Meghan Pachas, who works in the Shenandoah Valley in Virginia and the Eastern Panhandle of West Virginia, professional life goes hand-in-hand with a life of service. Pachas started the first Young Professionals group for the Blue Ridge Association of Realtors, serves on the BRAR board and has been board president since 2023. At the state level, she serves on the Property Management Council for Virginia Realtors.
Pachas said she loves “helping both people and animals find homes” and has combined both in her career. She serves on the board for Blue Ridge Habitat for Humanity and volunteers and fosters animals for Shirley’s Angels Animal Rescue. Find out how her passion for all things real estate-related informs her work with clients and colleagues.
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Name: Meghan Pachas
Title: Broker-owner
Experience: 19 years in property management, received my real estate license in 2009. Currently have a broker license in VA and WV
Location: Winchester, Virginia
Brokerage name: MAP Property Solutions
Transaction sides: 1,160
Sales volume: $53 million
Awards: Multiple volume awards from Blue Ridge Realtors, most recently the Director’s Award in 2023
How did you get your start in real estate?
I am a third-generation broker and literally grew up in this industry. My grandparents owned a property management/sales office which was then taken over by my uncle and father when they retired. I actually went to school for American Sign Language and had plans of becoming an interpreter; instead, I ended up working for my family and falling in love with real estate.
What do you wish more people knew about working in real estate?
That HGTV and shows make it look easy, but this is a tough industry. If you’re not motivated and self-driven, you’re going to have a hard time. While there’s no ceiling for how much business you can do, there’s also no floor.
I also wish other agents remembered that we are all in the same boat. It doesn’t matter how long you’ve been in the industry; it’s not easy for anyone, and helping our fellow agents can go a long way.
What’s something you know now that you wish you knew when you started?
Get involved with your local board. I have grown and learned more than any class I’ve taken or book I’ve read just by volunteering and getting involved with the local and state associations. Seeing the behind the scenes and why things are the way they are has helped me become a better agent and advocate for my clients.
What makes a good leader?
Someone who recognizes the strengths in others and helps positively motivate them. A person who is able to push their team towards a shared goal and recognize the smaller achievements along the way.
What’s one thing you wish every agent knew?
The importance of getting involved. Being part of our real estate community and the community you live in is so important. All it takes is one person to help promote positive change.
Email Christy Murdock
by Bess Freedman | Aug 13, 2024 | Industry, News Feed
As we face change as an industry, it’s crucial to be able to face that change with confidence in order to be able to thrive, broker Joseph Santini writes. Here’s how to build a tolerance for change.
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There’s a lot going on in our industry right now, but as always, we know that the only constant in business and in life is change. The most successful people in our business, in any business, have one special quality — they are unaffected by change and uncertainty. They accept it. They have the ability to tolerate it keep moving forward regardless of what is thrown in their path.
They always seem to power through and get what they need regardless of any change and uncertainty surrounding them. Just what is it that makes these people so good at this, while others freeze up and stop moving forward when things go sideways?
Mastering change and uncertainty is a skill, and like all skills, it comes more naturally for some than others. Anyone can decide to get really good at this skill if they really want to. Taking the time to get good at it will serve you well in every area of your life, not just your business life.
Read on to find out how to be a master of change and uncertainty. These skills will serve you well as we are about to enter uncharted territory in the real estate business.
Be bold
The first thing to remember is that people who are really good at this have a high level of confidence. It’s the common denominator. They know that they will succeed, and they know exactly what they will achieve. These people have a great ability to see the outcome that they desire and not only see it but really believe in it.
These feelings are so strong that they override the negative feelings that change and uncertainty bring. Their focus on the positive end result is incredibly strong, which makes their other feelings secondary.
You can say that they are more wired like true entrepreneurs. They are not overthinking because if they did, the logic of the situation would always win out. Logical, even balanced people will struggle more with this as they analyze too much instead of having the blind faith needed to overcome change and uncertainty.
Believing that you will succeed will make you succeed regardless of any perceived obstacle.
Go for it
We all know the people who just go for things and think about them later. And we also know the people who analyze the possible outcomes so much that it doesn’t make sense for them to continue. Logic does them in. The same behaviors apply to mastering change and uncertainty.
Nobody likes change, and as we get older, it becomes even more of a challenge for many if we let it. Change makes us feel vulnerable, and our natural instincts tell us that it’s possible that danger may be near. We also get so used to doing things one way to the point that any change will create more work for us, and that upsets us even more.
Let’s look at young children. Do they mind change? They don’t because they haven’t learned to yet. Think back to the last time change didn’t matter so much to you. The only thing that has changed for you since that time is your mind and your perception of what is happening. It does not have to be this way, and you have the power to change your perception any time that you want to.
The key is to accept the change, tolerate it and learn to be comfortable being uncomfortable. It’s easier said than done but very doable.
Build a tolerance
Learning to tolerate uncertainty will give you the peace to keep moving forward as if everything is going your way. When you build this skill, you will become unaffected by any changes that come up, and of course, they will never stop coming up. Over time, you will build this muscle one change at a time, but you have to consciously build it instead of fighting the changes in your life.
Starting today, when you experience any change at all, decide how you will perceive it.
Practice with the little changes that occur each day, and work up to the bigger changes that we see in our lives, like a job change or moving to another state.
With these changes will come the feeling of uncertainty, so be sure to use your confidence and focus on striving toward the outcome that you desire and remember to feel comfortable in this transition. Learning to tolerate uncertainty should be your your new mantra.
We all have the same biological minds. The difference is how we choose to use our minds and our perception of what is happening. Make your mind your best weapon, and don’t let it turn on you and work against you.
So, to summarize, remember these three key elements the next time you are faced with change and uncertainty, and remember that you can master this any time that you decide to.
- Build your confidence, and be bold
- Learn to go for it
- Have a strong focus, and build tolerance
As we navigate some big changes in the real estate business in the next few months, choose to flow through it. And when the dust settles, you can look back and see that it was much easier than you originally thought it would be. Then continue to find other areas of your life to apply your new found skill to. You may never be the same again.
Joseph Santini is a managing broker at Coldwell Banker Realty in Boca Raton, Florida. Connect with him on LinkedIn.
