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

A Comprehensive Guide
to San Antonio FHA Loans​

Many hopeful homeowners have had their hopes shattered by mortgage companies who would not grant them conventional mortgages because of their financial and credit status. Thankfully, the government was able to come up with a solution that makes homeownership more manageable, especially for first-time homebuyers — the FHA home loan.

A Comprehensive Guide to San Antonio FHA Loans​

Many hopeful homeowners have had their hopes shattered by mortgage companies who would not grant them conventional mortgages because of their financial and credit status. Thankfully, the government was able to come up with a solution that makes homeownership more manageable, especially for first-time homebuyers — the FHA home loan.

Texas Fha Loan

FHA Loans, Explained

FHA home loans are mortgages insured by the Federal Housing Administration or FHA – a government agency that sets the standard for home construction and financing in the United States.

When a mortgage is guaranteed or backed by the FHA, it means that the FHA will step in and cover the financial losses of the lender, in part or in full, in the event of a foreclosure. Because of this additional protection provided by the government, FHA mortgages usually have lower interest rates and qualification requirements than traditional home loans.

FHA Loans, Explained

FHA home loans are mortgages insured by the Federal Housing Administration or FHA – a government agency that sets the standard for home construction and financing in the United States.

When a mortgage is guaranteed or backed by the FHA, it means that the FHA will step in and cover the financial losses of the lender, in part or in full, in the event of a foreclosure. Because of this additional protection provided by the government, FHA mortgages usually have lower interest rates and qualification requirements than traditional home loans.

Texas Fha Loan
To be eligible for an FHA loan, a borrower must meet several requirements, including a credit score of 580 to qualify for the 3.5% down payment rate. If your credit score is somewhere between 500 – 579, you may still get approved for an FHA loan, but you’ll have to put up at least 10% for the down payment.

Different Types of FHA Loans

FHA loans generally come in fixed-rate and adjustable-rate options. Fixed-rate FHA loans maintain the same interest rate for the life of the loan, while adjustable-rate FHA mortgages have fluctuating interest rates. 

Aside from these two, however, the FHA program has a selection of home loan products more specific to the buyers’ needs. They are as follows:

FHA Loan Limits in San Antonio, TX

 

FHA released new limits at the beginning of 2021. The latest FHA loan limits range from $420,680 in low-cost areas to $970,800 in higher-cost regions in the country.

 

FHA loans allow one to four living-unit properties, and the loan limits vary based on the number of units in the property. The limits for FHA loans in San Antonio, TX, are currently at $449,650 for a single-family unit property to $864,700 for a four-plex.

 

If you think the FHA loan is the right home option for you, get in touch with our FHA Loan Specialists to get started with the application process.

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