Fast and Affordable Texas FHA Home Loans

Texas FHA Loans

FHA loans are a great option for 1st time home buyers, but you don’t have to be a 1st time buyer to qualify.  Here are a few things to know about FHA Loans in Texas: 

Texas FHA Guidelines  
* Small Down Payment – Only Down 3.5% 
* 100% Financing (w/Approved Gift Funds)

Zero down available to most buyers
Closing Costs  – Seller paid (up to 6%)
* In-house Flexible Underwriting
* Higher Debt-to-Income Ratios OK 
* Lower Credit Scores OK
* 580 credit scores OK with 3.5% Down and zero down option (can include gift funds)

Texas FHA Refinance Options

Streamline Option (Rate and Term)
No Appraisal / No Income documentation needed
* Rate and Term / CashOut 
* Closing Costs can be rolled into loan
* Terms: Up to 30 Years

FHA Qualifications

To qualify for an FHA loan, you’ll generally need to meet the following requirements.

Stable employment/income
The home will be your primary residence
* No foreclosures (last 3 years) 
* 50% or lower DTI ratio
* Minimum 3.5% down payment (Sometimes covered by forgivable grant)

* Money to cover closing costs, which could be anywhere from 2 – 6% of the purchase price.

Read More on FHA Loans.