Grand Prairie Texas FHA Loans

Your Texas FHA Mortgage Lender The FHA mortgage program has been helping people become homeowners since 1934. The Federal Housing Administration (FHA) is part of HUD and insures the loan, so we as your FHA mortgage lender can offer you a better deal. Here are just a few of the reasons why FHA mortgages are so popular for 1st time home buyers:

• Low down payments
• Low closing costs
• Easy credit qualifying

Benefits of Texas FHA Home Loans

It is easier to qualify for an FHA loan in many cases. This is because the lender has less risk of a loss in case of default. A customer with credit problems, such as bankruptcy, may qualify for a FHA mortgage.

• Low down payment. A FHA down payment is generally 3.5% (sometimes less). Other loan programs often require a larger down payment.



• Lower interest rates. FHA loans have competitive rates because the loans are insured by the Federal Government.



• Helps you keep you home. If you encounter hard times after buying your home, the FHA has many options to avoid foreclosure and to help you keep your home.

Because of these benefits a FHA loan can be the best choice for many home buyers. This can also be an ideal program for first time buyers.

Buying your first home? FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

General Information on Texas FHA Loans

FHA is an abbreviation for The Federal Housing Administration. Congress created the FHA in 1934 to make it easier for homebuyers to get mortgages. They do this by insuring mortgages for single family and multifamily homes. FHA mortgage insurance provides lenders with protection against a loss if a FHA homeowner defaults on a loan. Loans must meet requirements established by the FHA to qualify for this insurance. FHA and HUD have insured over 34 million homes since 1934. They are the largest insurer of mortgages in the world. In Harris County the maximum loan amount for a single family FHA home loan is $200,160, as of September 2006. Texas Capital Mortgage is located in Houston and offers FHA loans anywhere in Texas.

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