Texas FHA Lender
FHA Mortgage Options with The Leaman Team
Your Texas FHA lender, The Leaman Team, offers FHA loans throughout Texas and most other states as well. There is no cost to apply for an FHA loan with The Leaman Team. Call now – toll-free: (800) 301-3405 or email Team@MaxLeaman.com.
Austin FHA Lender – Frequently Asked Questions (FAQ)
What makes a mortgage an FHA loan?
The Federal Housing Administration (FHA) insures FHA loans. This is the most significant factor. There are additional loan guidelines specific to FHA loans.
What are the primary benefits of an FHA loan?
Most FHA borrowers seek the low down payment requirements of FHA mortgage loans. With as little as 3.5% down, and with greater flexibility in FHA loan guidelines – FHA loans are incredibly popular for residential home financing.* If yo have less than perfect credit, FHA also provides competitive mortgage rates and low fees with The Leaman Team. There is no cost to apply for an FHA loan with The Leaman Team. Call now – toll-free: (800) 301-3405 or email Team@MaxLeaman.com.
What are the downsides of an FHA mortgage?
We find the primary reason many clients do not get an FHA loan is FHA mortgages have a maximum loan amount. FHA loan limits do change with some regularity. FHA creates loan limits by county based on the average home prices throughout the United States.
Loan limits as of January 1, 2015:
AUSTIN-ROUND ROCK, TX (MSA)
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
HOUSTON-SUGAR LAND-BAYTOWN, TX (MSA)
SAN ANTONIO, TX (MSA)
Another drawback to an FHA loan is that the loan option requires a mortgage insurance premium payment that is nonrefundable. The premium is equal to 1% of the loan amount. The FHA mortgage insurance must be maintained for the life of the loan (as of January 2013).
FHA loans are extremely popular loans for borrowers throughout the United States. With the low downpayment and great mortgage rates, you can own the home of your dreams now.
How do I qualify for an Austin FHA loan?
There is no cost to apply for an FHA loan with The Leaman Team. Call now – toll-free: (800) 301-3405 or email Team@MaxLeaman.com.