What are the requirements for an FHA Loan in Texas?

What are the requirements for an FHA Loan in Texas?

A mortgage insured by the Federal Housing Administration can help you buy a home with less-than-perfect credit and a down payment as low as 3.5%. The government backing of these loans allows lenders to offer financing to borrowers who may not qualify for conventional...

What is PMI/MIP?

Mortgages have been around since the late 1800s and they were primarily made by your local banker; the vast majority of these loans were 1–5-year terms with 50% down and your rate was rarely fixed. That all changed in 1934 when the government got involved and created...
What Do Mortgage Lenders Look At?

What Do Mortgage Lenders Look At?

A mortgage lender is any financial institution that offers home loans. For most first-time homebuyers, mortgage lenders are synonymous with the home buying process. This is because most potential homeowners don’t have the cash on hand to purchase a home in full. There...
5 Significant Benefits of FHA Home Loans

5 Significant Benefits of FHA Home Loans

  Many barriers can stand in the way of obtaining a mortgage to finance a home purchase. Your credit score, debt-to-income ratio, and down payment amount can all prevent you from qualifying for a conventional mortgage. An FHA home loan has less stringent...
Current Mortgage Rates VS. Refinance Rates

Current Mortgage Rates VS. Refinance Rates

With mortgage rates currently at an all-time low, millions of people around the country are purchasing and refinancing their homes. Many borrowers wonder why rates on refinances are slightly higher than rates on purchases, here are the top 5 reasons: Processing and...