Houston FHA Home Loans
Available to all buyers, FHA loan programs are primarily designed to help low-income and moderate income families who do not meet requirements for conventional loans that adhere to more strict underwriting guide lines. When you look for Houston FHA home loans, they’re available to those with low credit scores and even lower incomes. That’s why it’s best to speak with a mortgage lender. They will need your completed application, your bank history and statements, your salary information and your credit report. This is the perfect loan if you have high debts or a lower credit score because it means the lender will work with you to ensure you’re able to afford the home you want to move into. Because these loans are set up to help those who may not traditionally get approved, the requirements are a little bit more flexible.
If you are considering an FHA loan for a new home or an investment property, the good news is that this is the best time to shop for a loan. Interest rates are down to 3.99% on a 30-year fixed mortgage and an FHA loan which is insured by the Federal Housing Administration, can help you get a mortgage for your new dream home or that investment property with little to no money down. You may only have to pay 3.5% as your down payment with seller closing costs at 6%. If you live in the Houston, Texas, area you should contact Keenan McGee and his team to see if an FHA mortgage is right for you.
- Simple Qualifying
- Only a 3.5% Down Payment Required
- 100% Allowed with Approved Gift Fund Source
- Seller Paid Closing Costs to 6%
- More Flexible Underwriting Criteria
- Higher Debt to Income Ratios Allowed
- Lower Minimum Credit Scores
- No Prepayment Penalties
- Streamline Refinance Available
- Manufactured Housing OK (Subject to Restrictions)
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Information About FHA Loans
When you’re ready to start looking at that new home and processing your paperwork, contact a name you can trust, Lone Star Financing. Houston FHA mortgages are available in the Houston, TX area and Lone Star Financing can help. With available mortgage lending services all throughout Texas, they can help you apply for your FHA loan and help you to do the paperwork, too. Don’t worry about your credit score and financing. These loans were meant to help first time borrowers and those with higher debt to income ratios. Talk to them and see what they recommend. You can apply for your Houston FHA home loan online at Lonestarfinancing.com or call today to speak to an FHA Home loan specialist in Houston.