Texas FHA Loans

Close on time, Credit Scores as low as 500

Texas FHA Loans

Close on time, Credit Scores as low as 500

TexasFHA.org

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Best Mortgage Refinance Company in Houston Texas

Understanding The FHA Loan Process

It is a common misconception that the FHA home loan process is daunting and harder to accomplish than other home mortgage options. The process of an FHA mortgage loan is not much different than any other type of home loan. Because we are an FHA Approved Lender and we have dedicated FHA Loan Specialists, we simplify the process for you. A typical FHA home loan can close in 30 days or less. We don’t outsource anything and everything is done in-house.

Understanding The FHA Loan Process

It is a common misconception that the FHA home loan process is daunting and harder to accomplish than other home mortgage options. The process of an FHA mortgage loan is not much different than any other type of home loan. Because we are an FHA Approved Lender and we have dedicated FHA Loan Specialists, we simplify the process for you. A typical FHA home loan can close in 30 days or less. We don’t outsource anything and everything is done in-house.

fha home loanPre-Qualify

The first step in obtaining your new FHA Home Loan is a preliminary look at your particular situation in order to see if you are qualified and how much of a home you are qualified for.

Documents texas fha

Once you’re qualified, we will need to start getting your documents in order. We fast-tracked the process for you to ensure you close on time.

fha home loanFind a Home The first step in obtaining your new FHA Home Loan is a preliminary look at your particular situation in order to see if you are qualified and how much of a home you are qualified for.

Appraisalfha requirements

The subject property being purchased has to be appraised by an independent third party to determine value in relation to the purchase price of the home. The file is submitted to Underwriting.

fha loansClear to Close

Once your home appraisal is complete as your lender we will complete a full review of your credit and income and will verify assets and give a “Clear to Close” status. This initiates a date, place, and time for you to sign all of your documents.

Transferfha loan process

After you’ve sat down at the title company to sign all of your documents the property is then transferred to you and you receive the keys to your new home.

Congratulations On Your new Home !!!

FHA Loan Benefits and Advantages

Compared to conventional loans, FHA carries a lower interest rate. Since HUD insures the loan against future default, it is offered a lower rate.

Minimum requirement for an FHA loan is only 3.5% compared to 5% on conventional loans. The borrower can also get a “gift” from family members to be used as a down payment on the house.

Required minimum credit score for an FHA loan is lower compared to the conventional counterpart. TexasFHA.org will extend an FHA loan to borrowers with middle FICO scores as low as 580. 

FHA loans can go as high as 57% debt-to-income (DTI) ratio with an automated underwriting system approval. Conventional loans can only go as high as 45% DTI. What does this mean? This allows the home buyer to purchase a higher sales price home. Lots of times, the higher DTI decides if a borrower qualifies for a home loan or not. 

PreQualify FHA Loan ProcessPre-Qualify

The first step in obtaining your new FHA Home Loan is a preliminary look at your particular situation in order to see if you are qualified and how much of a home you are qualified for.

FHA Loan DocumentsDocuments

Once you’re qualified, we will need to start getting your documents in order. We fast-tracked the process for you to ensure you close on time.

Find a home for FHAFind a Home

It’s time to find a home if you haven’t done so already. When looking for a home, it always helps to have a preapproval letter in hand when making an offer on a home.

FHA AppraisalAppraisal

The subject property being purchased has to be appraised by an independent third party to determine value in relation to the purchase price of the home. The file is submitted to Underwriting.

FHA Loan Process Clear to CloseClear to Close

Once your home appraisal is complete as your lender we will complete a full review of your credit and income and will verify assets and give a “Clear to Close” status. This initiates a date, place, and time for you to sign all of your documents.

FHA property transferTransfer

After you’ve sat down at the title company to sign all of your documents the property is then transferred to you and you receive the keys to your new home. 

 

Congratulations on your new home !!!

FHA Loan Benefits and Advantages

Compared to conventional loans, FHA carries a lower interest rate. Since HUD insures the loan against future default, it is offered a lower rate.

Minimum requirement for an FHA loan is only 3.5% compared to 5% on conventional loans. The borrower can also get a “gift” from family members to be used as a down payment on the house.

Required minimum credit score for an FHA loan is lower compared to the conventional counterpart. TexasFHA.org will extend an FHA loan to borrowers with middle FICO scores as low as 580. 

FHA loans can go as high as 57% debt-to-income (DTI) ratio with an automated underwriting system approval. Conventional loans can only go as high as 45% DTI. What does this mean? This allows the home buyer to purchase a higher sales price home. Lots of times, the higher DTI decides if a borrower qualifies for a home loan or not. 

FHA Loan Specialist In Texas

An FHA Loan Specialist Ready 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. You may also chat with us to get a quick answer to your questions.

FHA Fast Loan Process In Texas

We Make The FHA Loan Process Quick & Easy

Lenders often times will steer their clients away from an FHA loan due to their inexperience with the program.  FHA Loans are a great source of funding for our clients.  We share our knowledge and experience with FHA loans, making it easier for borrowers.

FHA Approved Lender In Texas

FHA Approved Lender

The Federal Housing Administration requires lenders offering FHA loans to go through an extensive approval process. We are FHA-approved and designated as a “Full Eagle” FHA mortgage lender offering FHA-insured home loans in Texas.

FHA Loans Help Make Home Ownership 

Possible For a Wider Range of People.

Connect With Us

Address

2300 Highland Village Rd., Ste 2218
Highland Village, TX 75077

Phone

800-854-4142

Email Address

info@texasfha.org

business hours

Monday - Friday: 9:00 am to 6:00 pm Saturday: 9:00 am to 12:00 pm