Texas FHA loans are home loans insured by the FHA (Federal Housing Administration) which give Texas borrowers the opportunity to secure TX home loans, when they don't quality for other conventional loans. For example, future Texas homeowners with little credit history or poor credit history are sometimes able to qualify for Texas FHA loans.
Texas FHA Loans for First Time Homeowners
TX FHA loans are ideal for first-time Texas homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing with FHA Loans in Texas
FHA also offers a refinancing option for Texas homeowners where it's possible to refinance up to 97.5% of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85%.
FHA Loan Requirements - Texas
- No income limit
- Texas borrower credit score flexibility
- 3.5% down payment on Texas Purchase Loans
- Bankruptcy: TX FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: An FHA loan can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
Texas (TX) FHA Loan Limits
FHA loan limits in Texas vary based on a number of criteria including the specific. location (county), number of units in the property (up to 4-unit properties in Texas), etc. Please contact Home Point Financial's Texas FHA loan experts for details on loan limits for FHA loans in Texas (TX).
Contact Home Point Financial to learn more about FHA loans in Texas.