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FHA Loans

First-time home buyers, single borrowers, individuals who don’t have 20% to put down on a conventional mortgage, or those with less than perfect credit could be good candidates for FHA loans.

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About the Program

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) does not issue or guarantee mortgages. Instead, they ensure the loans for the lender, enabling lenders to give buyers a better deal by taking on less risk.

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Key Benefits 

  • Low minimum down payment, only 3.5%

  • Flexible income and credit requirement

  • Lower closing costs

  • Can be used with down payment assistance

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FHA Loan Limits 

There are limits to the amount of money you can borrow with an FHA mortgage. FHA loan limits are adjusted annually, and you can search to see what the current limit is in your county here.

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© 2022 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.

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THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV

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