Fast and Affordable Texas FHA Home Loans
1st Time Home Buyers - Only 3.5% Down - Zero Down Options Available for Most
FHA Lender in Texas - Low Rates, Low Fees & Fast Closings
Texas FHA Loans
FHA loans are a great option for 1st time home buyers, but you don’t have to be a 1st time buyer to qualify. Here are a few things to know about FHA Loans in Texas:
Texas FHA Guidelines
* Small Down Payment – Only Down 3.5%
* 100% Financing (w/Approved Gift Funds)
* Zero down available to most buyers
* Closing Costs – Seller paid (up to 6%)
* In-house Flexible Underwriting
* Higher Debt-to-Income Ratios OK
* Lower Credit Scores OK
* 580 credit scores OK with 3.5% Down and zero down option (can include gift funds)
Texas FHA Refinance Options
* Streamline Option (Rate and Term)
* No Appraisal / No Income documentation needed
* Rate and Term / CashOut
* Closing Costs can be rolled into loan
* Terms: Up to 30 Years
Learn more about FHA loans from FHA.com/reguirements.
FHA Qualifications
To qualify for an FHA loan, you’ll generally need to meet the following requirements.
* Stable employment/income
* The home will be your primary residence
* No foreclosures (last 3 years)
* 50% or lower DTI ratio
* Minimum 3.5% down payment (Sometimes covered by forgivable grant)
* Money to cover closing costs, which could be anywhere from 2 – 6% of the purchase price.
Read More on FHA Loans.
Why Ryan Gibson Mortgages?
Located in Van Alstyne, Texas, we specialize in new home purchases and refinancing of homes in the DFW area. We partner with more than 25 different lenders to provide you with the most diverse and affordable loan options possible. We are happy to work with you to find a lending solution that works for you. Give us a call today and we can give you a no cost estimate.