If you think you can't afford to buy a house, think again…. FHA LOANS only allow you to put 3.5% down!
Texas FHA Loans ((97%)) Financing, Texas FHA mortgage Lender, Texas FHA Loan Programs
· Down payment: 3% of Sales Price
· 100% Financing options available
· No reserves or required.
· FHA regulated closing costs.
· Seller can credit up to 6% of sales price towards buyers costs.
· No minimum FICO score or credit score requirements.
· FHA will allow a home purchase 2 years after a Bankruptcy.
· FHA will allow a home purchase 3 years after a Foreclosure.
· Higher Debt Ratio’s than other home loan programs.
· Less than two years on the job is allowed.
· Self-Employed individuals o.k.
Although recent problems in the subprime market have made lenders more careful about how they extend credit, it’s still very possible to buy a home in a Texas home with little or no money down.
So many of my clients are doing this and can testify that it really works.. Stop throwing away money on rent… It’s a waste
Email me and I can recommend an amazing lender for you to talk to… for free. He can tell you what you will qualify for and how much you should be spending on a home!
Bonnie Besserer – firstname.lastname@example.org
At one point and time many years ago, the Texas FHA loan was the only alternative to local bank financing for Texas home buyers. In the fashion world, there is a saying: Wait long enough, and everything comes back into style. That rule applies just as well to Texas FHA mortgage program. Long-overlooked, the Texas FHA mortgage is becoming popular again with Texas Home Buyers for its low rates and the real security it provides borrowers.
For Texas banks and other mortgage lenders, FHA mortgage loan financing offers the security of a government insured Texas Mortgage. Win/Win! To learn more, call today at 1-800-570-0448 or just use our fast and easy quick application!
For first time home buyers and other Texas borrowers, the FHA home loans can have key advantages:
Easy Qualification – The FHA loan insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you’re likely to find FHA mortgage loans with terms that make it easier for you to qualify.
Minimal Downpayment Requirements – FHA mortgages can work with as little as 3% down and those funds can come from a family member, charity, or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that your 1st Continental Mortgage loan officer can point you to many Downpayment assistance programs that work well with Texas FHA home loans.
Less than A-1 Credit is Okay – The Texas FHA home loan program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage lates get approved every day for FHA mortgages to buy or Refinance homes in Hillsborough County or any of the other Texas counties we serve. The FHA loan program uses credit quality, not credit score!
Lower Cost Over the Life of the Loan – The Texas FHA home loan rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the borrower.
Safeguards for Borrowers Who Get Behind – The Texas FHA loan mortgages also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, HUD can allow the lender to take past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you’ll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an FHA mortgage.
Options for Manufactured Housing – Under certain conditions, you can even finance a Mobile Home or manufactured home using a Texas FHA mortgage loan. Call 1-800-570-0448 to get pre-approved for a Texas FHA loan for manufactured housing or just use our quick application to learn more!
FHA Loans Are Fully Assumable – When you are ready to sell your home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.
These are just seven of the many good reasons to apply for an FHA mortgage. Call 1-800-570-0448 to speak with a friendly Florida FHA loan specialist now!
The FHA program has evolved since it started in 1934 and now has options for HUD insured loans that fit a variety of different borrowers and situations.
FHA Home Loans for Purchasing a Texas Home
Although Florida FHA home loans require additional paperwork, the reality is that applying for an FHA mortgage loan in Texas is not much different from applying for conventional financing. In fact, for many borrowers the small amount of extra time turns out to be an exceptional mortgage bargain because they save thousands of dollars over the life of their Texas Mortgage.
At 1st Continental Mortgage, we have been working with the FHA program for many years. We’re experts at assembling the proper paperwork and presenting your loan application to FHA approved lenders diligently and professionally. It’s one of the ways that we have earned our reputation for closing FHA home loans in Florida on-time.
You may be surprised at how flexible sellers are in the current market and how many programs there are that provide Downpayment assistance to applicants for FHA financing to purchase Florida homes, condos, and townhouses. The fact is, seller can pay up to 6% towards your closing costs. This means, no closing costs for you when negotiated during the purchase contract!
The FHA program offers excellent fixed rate options and never a prepayment penalty. If other mortgage lenders are quoting you subprime rates, you owe it to yourself to make the call to 1st Continental Mortgage to compare the costs of getting an FHA home loan for your home purchase. Call 1-800-570-0448 to speak with an FHA mortgage expert before accepting any conventional mortgage quote as the best you can do!
FHA Home Loans Offer the Convenience of Texas Streamlined Refinance
An FHA streamline refinance is one of the easiest home loans for Mortgage Lenders and borrowers. Since HUD approved you for the original FHA loan, the paperwork to refinance is minimal and the process is simple.
So long as you have made your Texas FHA loan mortgage payments on time for the previous 12 months, you can lower your monthly payment if interest rates go down with minimal out of pocket expense. Even if you have been late on your FHA mortgage, you might still qualify for an Texas FHA streamline refinance in Texas under very specific conditions.
Less documentation and no appraisal are just two of the reasons a FHA streamline refinance is cheaper and faster for the borrowers who qualify.