FHA Loans in Texas
FHA loans are one of the most common ways first-time buyers get into a home. They're backed by the federal government, which lets lenders offer a low down payment and more flexible credit guidelines. If you've been told you need perfect credit or a big savings account to buy a home, an FHA loan may change that.
Why Buyers Choose FHA
Low Down Payment
As little as 3.5% down with a credit score of 580 or higher.
Flexible Credit
FHA guidelines are more forgiving of past credit issues than many other loans.
FHA guidelines are more forgiving of past credit issues than many other loans.
Gift Funds Allowed
Your down payment can come from a gift from family.
Help with Costs
Sellers can pay part of your closing costs, which means less cash out of pocket.
Up to 4 Units
Buy a home with up to four units, live in one, and rent out the others.
Things to Know
FHA loans include mortgage insurance, both an upfront fee that's usually added to the loan and a monthly amount in your payment. The home must be your primary residence, and it needs to meet basic safety and condition standards. Loan limits vary by county. If you're buying a home that needs work, an FHA 203(k) renovation loan lets you finance the repairs too.
Common Questions
What credit score do I need for an FHA loan?
FHA allows a score as low as 580 with 3.5% down. Lender requirements vary, so I compare options across many lenders to find the best fit for your credit.Can I get an FHA loan after a bankruptcy or foreclosure?
Often, yes. In many cases, you can qualify two years after a Chapter 7 bankruptcy, after one year of on-time Chapter 13 payments, or three years after a foreclosure.Is FHA only for first-time buyers?
No. Anyone who plans to live in the home can use an FHA loan, including people who have owned before.Can I remove FHA mortgage insurance later?
It depends on your down payment. With less than 10% down, it usually stays for the life of the loan. Many owners refinance into a conventional loan later once they've built enough equity.FHA or conventional: which is better?
It depends on your credit, down payment, and goals. FHA is often a better fit for lower scores, while conventional can cost less for buyers with stronger credit. I'll compare both so you can see the real numbers side by side.
Want every step in one place?
My free guide walks you through the whole process, from your first call to closing day.
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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval.
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