How to Apply for FHA Loan in Texas?

How to Apply for FHA Loan in Texas?

A Federal Housing Administration (FHA) loan is a type of federally backed mortgage that is issued by an approved lender and insured by the FHA

 LOW DOWN PAYMENTS FHA Loans are popular among homebuyers wanting a low down payment. You may be able to get FHA financing with as little as 3.5% down.

LOWER INTEREST RATES FHA homebuyers with credit scores of 680 can often qualify for the same interest rate as conventional borrowers with a score of 740.

CREDIT REQUIREMENTS FHA Loans don't require perfect credit to secure financing. In some instances, you may qualify for 3.5% down with a 580 credit score.

CLOSING COSTS FHA loans allow sellers to pay up to 6% of the loan amount to cover buyers’ closing costs. Sellers can only pay up to 3% on conventional loans.

This historic home loan program continues to open the door to homeownership for millions of Americans who might struggle to secure conventional financing.