FHA Loan Types

Different FHA Loans for Buying a Home

FHA Home Loans have made it cheaper and less restrictive for those who want to purchase a home. It’s a lot easier to maintain in the short and long term compared to other mortgage facilities. The FHA mortgage loans feature:

  • Small Deposits and Closing Payments
  • Total (100%) Financial facilities
  • Closing costs regulated by the FHA
  • Deposits can be smaller than 3.5% of home sales price

The numerous benefits of FHA Loans make them one of the attractive programs for the bulk of individuals looking to purchase a new home. Potential homeowners are attracted by its low qualification requirements such as:

  • Low FICO Score of 620
  • No restrictions on individuals who have declared Bankruptcy in the last two years
  • No restriction on individuals who have had a foreclosure in three years

Even first-time buyers are encouraged to apply for FHA loans but you can only subscribe to one FHA insured loan at a time. With Better Job Requirement Guidelines and more permissive debt ratios, FHA lending permits:

  • The Self-Employed
  • Low experienced worker with less than 48 months

You don’t have to be a first-time buyer to apply. Are you in search for a texas fha loan? Find from this list of available FHA loans the type that suites you:

  • Single Family Home – Simple FHA loans program for single families.
  • Units> Duplex  Triplex  Fourplex – FHA loans for multifamily residences.
  • Fixed Rate Loan – Purchase a home with a fixed rate FHA mortgage loan.
  • Adjustable Loan (ARM) – Purchase a home with flexible rate FHA loan program.
  • Buydown FHA Loans   – Low Start Rate FHA buy-down loan program.
  • HUD Homes – Obtain HUD financing with as little as $100 down.
  • Officer Next Door – 50% discount homes for officers.
  • Teacher Next Door – 50% discount homes for teachers.
  • CHDAP – Financing options for 1st time California residents.
  • Nehemiah – Full finance options from an NGO.
  • HART – Full finance options from an NGO.
  • CHFA Loans (CHAFA) – Full finance options for first time homeowners in a California residence.
  • Access 2000 – Full finance options for first homeowners.
  • 203K – Home improvement FHA loan.

Visit our home page for more information on FHA loans, Texas FHA Loans, and for tips on the buying process and shopping for a new home.