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FHA-insured loans are available in urban and rural areas for single family homes, for 2-unit, 3-unit, and 4-unit properties, and for condominiums in Texas. Interest rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Down payments can be as low as 3 percent, and closing costs can be wrapped into the home mortgage.
Section 203 is the most frequently used FHA program. You may use this program to purchase a new or existing one- to four-family homes, including manufactured homes, in both urban and rural areas. A section 203 fixed mortgage may be repaid in monthly payments over 10, 15, 20, 25, or 30 years. Section 234(c) provides mortgage insurance for buyers who wish to purchase a unit in a condominium project. The condominium may consist of more than one building, such as a group of row apartments, high-rise buildings, townhouses, or any combination of these structures. Any condominium project must be approved by HUD. In some cases, HUD insures loans (section 237 loans) for people who have had credit trouble and do not meet standard credit requirements to buy low cost homes mortgage loans. (FHA) also insures loans for home improvements -- 203(k) loans. Section 203(k) mortgages allow you to purchase or refinance and rehabilitate a home at least 1 year old. A portion of the loan proceeds are used to pay off the existing mortgage, and the remaining funds are placed in an escrow account and released as rehabilitation is completed. The improvements financed with mortgage proceeds must comply with HUD's Minimum Property Standards and all local codes and ordinances in texas. Rehab a Home with HUD's Programs Detailed description and eligibility requirements. All the programs operate through FHA which submit borrower's applications thru houston home loan, houston texas. The first step in getting started is to fill out our loan application
here on-line for more information and we will have a live person phone you to visit about
your loan request. Please fill out the short form application, thank you.  . |
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Houston,
Dallas, San Antonio, The Woodlands, Katy, Austin, Texas |
Houston
home loan federal housing administration home loan mortgage solutions
financing moderate to jumbo super jumbo terms, fast track fha-stream
lined 
With an FHA-insured mortgage, you can make extra payments toward the
principal when you make your regularly monthly payment. By making extra payments, you can
repay the loan faster and save on interest. You can also pay off the entire balance of
your FHA-insured mortgage at any time in Texas.