FHA Single Family Loan

Single Family FHA Home loans

FHA loans to more single family houses than all other types of home property combined. The family FHA loan is named a FHA 203(B) mortgage loan. The following rules are laid out for single family homes:

  • FHA loan is designated for benefactors meaning to occupy the home property
  • Such single family home must be a:
    • Single Family Real Estate Home (SFR)
    • HUD approved Condo complex
    • PUD
  • A maximum loan amount on the property is established although no maximum sales price is capped
  • Benefactor may own rental property without FHA financing
  • FHA loans are not restricted to first-time homeowners provided the benefactor does not already have a current FHA insured loan and if a loan exists, it should be at least at LTV of more than 75% of the current home value.

FHA loans finance as high as 96.5% of the property value for purchase or mortgage refinance on applicable single family homes. Specific maximum loan amount differs based on state and county in which the property is located.

Get more information from Texas FHA loans on qualification requirements.