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Changes Coming to FHA! - Posted on February 11, 2010

Before the conventional mortgage loan market collapsed, approximately 10% of home buyers utilized FHA financing. Conventional loans were king. Borrowers who had less than perfect credit and little money down could utilize the FHA programs to purchase a home. FHA required 3 percent down and the seller could contribute up to 6 percent in seller paid closing costs. A buyer who purchased a $200,000 home with the seller paying 6% in seller paid closing costs needed only $6,000 in down payment and about $1,000 in additional cash to cover buyer paid closing costs. Today approximately 41% of all loans originated by mortgage banks are issued and insured by FHA. The reason for the sudden use of FHA insured loans is due to the stringent conventional mortgage guidelines and lack of insurability... Read More »

Refinancing Home Loans in Texas

Finding the best rate on your Texas home loan is now quick and easy. As a mortgage "broker-banker" we are able to offer more loan options with the lowest available interest rates. And because Lone Star Financing is a private company we are also able to offer lower rates and lower fees. We also know that our customers time is important and is why our turn-times for new home loans and refinancing home loans in Texas is second to none. Please contact us today to let us help educate you on available loan options and give you a Good Faith Estimate.