FHA Loan
FHA loans are insured by the Federal Housing Administration and are designed to make homeownership accessible to more Americans. With lower down payment requirements and more flexible credit guidelines, FHA loans are one of the most popular choices for first-time homebuyers.
Key Benefits
Low down payment — Put as little as 3.5% down with a credit score of 580 or higher.
Flexible credit requirements — FHA loans are more forgiving of past credit issues, including bankruptcies and foreclosures (with waiting periods).
Competitive rates — Because the loan is government-insured, lenders can offer competitive interest rates.
Gift funds allowed — Your entire down payment can come from a gift from a family member, employer, or approved organization.
Who Is This Loan For?
FHA loans are perfect for first-time homebuyers, borrowers with lower credit scores, and anyone who wants to minimize their upfront costs. They are also popular with buyers who have limited savings for a down payment.
FHA Loan Limits
FHA loan limits vary by county. In Texas, the current FHA loan limit allows you to purchase homes up to the conforming limit. Contact us for the most current limits in your area.