FHA loans · Longview, TX
FHA loans
Built for people the conventional box doesn't fit. Lower down payment, more forgiving credit requirements, and the most common first step into a first house.
Who this is for
Is this you?
- First-time buyers
- Anyone rebuilding credit after a rough stretch
- Buyers with a smaller down payment saved
- People who've been turned down for a conventional loan
The honest part
Where it can bite
FHA carries mortgage insurance, and on most loans today it stays for the life of the loan rather than dropping off. That's the real tradeoff. Many people refinance out of FHA later once credit and equity improve — a legitimate strategy, but plan for it going in.
We will tell you when it is not worth it.
We are brokers, not a single bank with one menu to sell. If a different program serves you better — or if doing nothing serves you better — that is the answer you will get.
What matters
The parts worth knowing
Low down payment
3.5% down for qualifying borrowers.
Credit flexibility
FHA guidelines are more forgiving than conventional. Note that individual lenders add their own overlays on top.
Gift funds allowed
The down payment can come from an eligible gift.
Assumable
In some cases a future buyer can take over your FHA loan — which can matter a great deal in a higher-rate market.
Questions
Straight answers
What credit score do I need?
FHA's guidelines are more flexible than conventional, but individual lenders apply their own overlays. Being told no by one lender doesn't mean the answer is no.
Does FHA mortgage insurance ever come off?
On most current FHA loans it remains for the life of the loan. The common path off it is refinancing later.
Can I use FHA for a fixer-upper?
There are renovation options. Worth asking about specifically.
Find out where you stand on a FHA loan.
Answer a few questions and see an estimate in about two minutes. No hard credit pull to begin, and a licensed loan officer follows up within one business day.
Not a commitment to lend. Subject to credit approval and underwriting.