A Comprehensive Guide to San Antonio FHA Loans
San Antonio FHA Loan Limit
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.
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Different Types of FHA Loans
- FHA 203(b) Loans – This is the most common type of loan insured by the FHA. You can use 203(b) loans to purchase properties between 1-4 units or refinance your home.
- FHA 203(k) Loans – This FHA loan is also called the Rehabilitation Mortgage. Homebuyers and existing homeowners alike can use the 203(k) to pay for eligible home repairs and improvements.
- EEM Loans – You can use EEM or Energy Efficient Mortgages to finance home improvements that reduce energy use/consumption in your home.
- HECMs – Home Equity Conversion Mortgages or reverse mortgages are for homeowners aged 62 and over who wish to use their home’s equity as a means to supplement their income.
- FHA Streamline Refinance – This option allows borrowers to refinance an existing FHA loan to a lower rate more quickly. The refinancing process requires little financial documentation and rarely involves a credit check.
FHA Loan Limits in San Antonio, TX
FHA released new limits at the beginning of 2023. The latest FHA loan limits range from $472,030 in low-cost areas to $1,089,300 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, Bexar County, are currently at $524,400 for a single-family unit property to $1,008,450 for a four-plex.
If you think the FHA loan is the right home option for you, contact our FHA Loan Specialists to get started with the application process.
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.
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
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.