By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan.
Looking for help securing a home loan? If a lower credit score is keeping you from securing a traditional loan, FHA loans are an ideal solution. Designed to help moderate- to lower-income families buy homes, FHA loans are backed by the Federal Housing Administration. Let Supreme Lending give you the support and answers you need to land the home you want.
There are five types of FHA loans in Texas to help families looking to buy a home. Besides the standard FHA loan for a home, there are:
Applying for a mortgage can be a complicated and scary process. We want to make the FHA loan process simple for you, so we have answered some common questions about FHA loans in Texas below.
An FHA loan in Texas offers many benefits, especially for lower-income families and first-time homebuyers, including:
The FHA loan requirements in Texas and other states are more stringent than for traditional mortgages. One requirement that is unique to FHA loans is mortgage insurance to protect the lender in case you default on the loan. Other requirements for an FHA loan include:
We understand how frustrating it can be to feel like you are filling out a never-ending pile of paperwork. We have simplified the FHA loan process down to six easy steps.
You can read more about our home loan process and discover how easy the path to homeownership can be through an FHA loan in Texas.
The experienced team at Supreme Lending has spent years building trust with lenders and financial institutions across Texas. That experience and trust allow us to offer our customers lower interest rates, faster turnaround times and more options. Apply for an FHA loan today and find out how Supreme Lending can help you. If you have questions about FHA loan limits in Texas or other questions surrounding FHA loans, please contact our team today.