The Federal Housing Administration (FHA) – Insured Loans

FHA Loans – Are loans that are insured by the Federal Housing Administration (FHA) and designed for low-to-moderate-income borrowers.

FHA b – Home Purchase

• Fixed or Adjustable Terms
• Seller may contribute up to 6% of the sales price towards buyer’s reasonable closing costs.
• Low Down Payment – 3.5%
• More Lenient Credit Score Requirements – Minimum 560
• PMI – Private Mortgage Insurance Required and is Not Cancelable
• Only Available for Owner Occupied – 1 to 4 Family Properties
• Max. Loan Limits by Region – Currently, Travis and Williamson County Max. Loan Limits are the Same. This is Not Always the Case.
  • Travis County – (2020 loan limits)
    • Single Family – $404,800
    • Duplex – $518,200
    • Tri-plex – $626,400
    • Four plex – $778,450
  • Williamson County – (2020 loan limits)
    • Single Family – $404,800
    • Duplex – $518,200
    • Tri-plex – $626,400
    • Four plex – $778,450

FHA k- Rehab Mortgage – The Home Purchase and Renovations are financed in one loan.

• The loan amount (including both the purchase and renovation costs) must be lower than the maximum loan limit for your area.

For More Information on FHA k Guidelines and Eligible Renovations Click Here

For More Information on FHA 2020 Loan Limits by Region Click Here

For More information on the Federal Housing Administration and Loan Programs Click Here