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Texas FHA loans

Texas FHA loans

Credit Scores and FHA Loans

Credit Scores and FHA LoansAlthough the Federal Housing Administration (FHA) only requires a 580 FICO score  to qualify for the 3.5% minimum down payment requirement, borrowers are hard pressed to find direct lender or an approved FHA Lender to extend a mortgage loan with such a low FICO score.

Most commercial lenders and big banks use 640 as a criteria to qualify a home buyer. Logic is simple, the higher the credit rating, the less the likelihood of defaulting on their mortgage loan. AMCAP Mortgage will extend an FHA mortgage to borrowers with scores as low as 580 with compensating factors.

As long as the borrower gets an approval from either Fannie Mae or Freddie Mac’s automated underwriting system (AUS), and they meet all the criteria and requirements, they can get an FHA loan from AMCAP Mortgage.

Non-medical collections and charged-off accounts do not have to be paid either. While most lenders require these items to be paid, AMCAP Mortgage will not. For more information regarding credit score requirements, contact us at 281-860-2533 or use any of the tools in this website.

by Gerry Nicodemus

Equal Housing Lender

Testimonials

New Home Owner FHA Loan Texas

“From beginning to end, this process could not have been any smoother or more professional. I honestly do not know how this could have gone any better – truly. Thank you thank you thank you.”

-Kim B. (Sugarland, TX)

Benefited by Texas FHA Loan

“I was worried about loan process time and approvals but everything was explained to me with professionalism and ease. My closing date was met and I had the choice to actually close early if I wanted to.”

-V. Andreev (Houston, TX)

texas fha borrowers

“The staff at Amcap Mortage was very friendly and professional. I would definitely recommend this lender for your mortgage loan.”

-James T. (Spring, TX)

 

TexasFHA.org

An FHA Loan Specialist Available to Help You

Our FHA Loan Specialists are always available to help you and answer any questions. You may contact a dedicated FHA Loan Specialist through our website or by calling us directly.

We make the FHA Loan Process Quick & Easy

It’s not a secret that lenders often times will steer their clients away from an FHA loan due to their inexperience with the process. We find FHA Loans to be a great source of funding for our clients. We share our knowledge and experience with FHA loans, making it easier to get compared to conventional financing.

FHA Approved Lenders

The Federal Housing Administration requires lenders offering FHA loans to go through an extensive approval process. Amcap Mortgage Ltd. is an FHA approved lender specializing in FHA Loans in Texas.