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Houston Texas FHA ,VA, Stated Income Mortgage Lenders

100% NO MONEY DOWN+TEXAS FHA MORTGAGE LENDERS

100% No Money Down Texas  Mortgage Lenders

This 100% Texas NO money down mortgage loan program is designed to increase Texas home ownership opportunities. Down payment funds are available from 3% up to 6%. This 100% NO money down program is a soft second lien or a 2nd mortgage with a 5-year term, forgiven at month 61, as a 0% interest second lien. The 100% Texas NO money down mortgage loan program requires you to remain current on your first mortgage for the 2nd second mortgage to be forgiven.

100% Houston Texas DOWN PAYMENT ASSISTANCE AND CLOSING COST ELIGIBILITY 

All HUD agency guidelines apply.

• Standard FHA 100% Houston Texas Mortgage lenders LTV amounts apply

• MCC’s (Section 8) is ineligible

• Homebuyer Education is required. Houston Texas 100% financing no money down mortgage lenders will accept any valid certificate completed within the last year by at least one borrower who will be on the loan.

• MGIC Homebuyer Education (https://homebuyers.mgic.com) or similar course developed by a mortgage insurance company, OR

• Course developed by HUD-approved counseling agencies. HUD Approved Houston Texas 100% financing First Time Buyer Course.

100% NO MONEY DOWN+Houston Texas FHA MORTGAGE LENDERS

100% No Money Down Houston Texas   Mortgage Lenders

This 100% Houston Texas NO money down mortgage loan program is designed to increase Houston Texas home ownership opportunities. Down payment funds are available from 3% up to 6%. This 100% NO money down program is a soft second lien or a 2nd mortgage with a 5-year term, forgiven at month 61, as a 0% interest second lien. The 100% Houston Texas NO money down mortgage loan program requires you to remain current on your first mortgage for the 2nd second mortgage to be forgiven.

100% Houston Texas Mortgage Lenders Key Points

  • No requirement to be a Houston Texas first time home buyer.
  • Must have a minimum 640 credit score.
  • Must have Max Debt to income of 45%.
  • Must meet Income Limits (up to 140% AMI)
  • First lien is a 30-year fixed term with full amortization.
  • FHA 203(b) in accordance with FHA guidelines
  • Primary residence 1-4 unit’s single family is allowed.
  • DAP funds available, 3% to 6% of the first mortgage loan amount.
  • Rental history required or 3 months reserves (PITIA) are required)

100% Houston Texas Mortgage Lenders Credit Requirements

Minimum Credit Score: 640

  • Each borrower must have a minimum of one credit score.
  • FICO 640-659 eligible for 3% up to 5% DAP.
  • Max DTI: 45% with an AUS approval
  • FICO 660+ eligible for 3% up to 6% DAP.
  • Max DTI per AUS approval.

Within Reach Credit Guidelines:

  • Paying off debt to qualify is not allowed.
  • Houston Texas 100% no money down mortgage lenders does not allow audited P&L’s to be used for income calculation purposes.
  • No outstanding judgments, including repayment plan. All outstanding judgments must be paid in full.
  • Foreclosure, Deed-in-Lieu, and Short-Sale History: 3 years
  • Chapter 7: 2 years from discharge date
  • Chapter 13: Bankruptcies must be fully discharged before eligible for financing
  • VOR supported by 12 months cancelled checks or withdraws from bank account.
  • If Borrower does not have current housing history, then 3 months reserves (PITIA) are required.
  • IRS payment plans:
  • IRS repayment plans initiated in the current year are not allowed.
  • IRS repayment plans initiated for multiple consecutive years are not allowed. (pattern of inability to manage finances)
  • For consideration of an exception request an explanation as to why the borrower owes unpaid taxes, what steps have been taken and put into place to correct the underpayment from occurring in the future, a copy of the IRS agreement, IRS record of account transcripts to confirm date of payment arrangement request and evidence of 3 consecutive timely payments will be required.

FHA MORTGAGE LENDERS HOUSTON TEXAS
FHA Mortgage Lenders Houston Texas
100% Houston Texas VA Mortgage Lenders – Min 580 FICO!!
10DOWN+HOUSTON TX SELF EMPLOYED MORTGAGE LENDERS
100% Houston Texas FHA Mortgage Lenders Min 620 fico!

HOUSTON TEXAS NO TAX RETURN MORTGAGE LENDERS

Stated Income Mortgage Lenders

Texas Bad Credit Cash OUT Refinance UP To $500K In Hand!

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SAME DAY APPROVALSor
TEXAS MORTGAGE QUESTIONS AND ANSWERS

In The State Of Texas Do, I have to consider the credit and debts of a non-purchasing spouse? YES!

 In Texas, only for FHA or VA loans, you must count the spouses’ debt into the borrowers’ debt to income ratio. Texas is a community property state meaning debts of the non-borrowing spouse must be included in the Texas FHA or VA Mortgage Applicants’ qualifying ratios, except for obligations specifically excluded by state law.

The Texas FHA or VA mortgage Lender MUST not consider the credit history or credit score of a non-borrowing spouse. The non-borrowing spouse’s credit history is not considered a reason to deny an FHA or VA mortgage application.
The FHA or VA mortgage lender must
• verify and document the debt of the non-borrowing spouse.
• make a note in the file referencing the specific state law that justifies the exclusion of any debt from consideration.
• obtain a credit report for the non-borrowing spouse in order to determine the debts that must be included in the liabilities. The credit report for the non-borrowing spouse is for the purpose of establishing debt only, and is not submitted for the purpose of credit evaluation. The credit report for the non-borrowing spouse may be traditional or non-traditional. WE HAVE OTHER OPTIONS IF YOU DO NOT QUALIFY BECAUSE OF YOUR SPOUSES DEBTS! APPLY NOW

  • FHA loans have been helping Texas residents since 1934.  A Houston Texas FHA Mortgage Lenders can offer you a better Mortgage Deal including:
  • Lower down payments (if any)
  • Lower closing costs
  • Easier credit qualifying
  • Same Day Pre Approvals!
  • HOUSTON TEXAS FHA MORTGAGE LENDERS:
  • Down payment only 3.5% of the purchase price.
  • Gifts from family or FHA Grants for down payment assistance and closing costs OK!
  • Sellers can credit the buyer’s up to 6% of sales price towards buyers costs and pre-paid.
  • No reserves or future payments in account required.
  • FHA regulated closing costs.
  • Read more about buying a home with an FHA mortgage Bad Credit –No Credit – Investment –Second Home –Multi Family –  
  • HOUSTON TEXAS FHA  LOANS ARE EASIER TO QUALIFY FOR BECAUSE:
  • 12 months after a chapter 13 Bankruptcy FHA mortgage Lender approvals!
  • 24 months after a chapter 7 Bankruptcy FHA mortgage Lender approvals!
  • 3 years after a Foreclosure FHA mortgage Lender approvals!
  • No Credit Score FHA mortgage Lender approvals!
  • 580 required for 96.5% financing or 3.5% down payment FHA mortgage Lender approvals.
  • 500 required for 90% financing or 10% down payment FHA mortgage Lender approvals.
  • BAD CREDIT GEORGIA with minimum 500 FICO credit score with 10% Down Payment FHA. For FHA mortgage applicants with credit scores between 500 and 579 must make down payments of at least 10% down!
  • Read more about FHA Qualifying Qualification Summary – Manual Underwrite – Collections-Judgement’s – Bankruptcy or Foreclosure – Compensating Factors –
  • HOUSTON TEXAS FHA MORTGAGE DEBT TO INCOME & EASIER JOB QUALIFYING
  • FHA allows higher debt ratio’s than any conventional mortgage loan programs.
  • Less than two years on the same job is OK!
  • Self-employed buyers can also qualify with FHA Mortgage Lenders.
  • Read More about Gifts For Down Payment – Documents Checklist – Debt To Income – Student Loans –
  • Whether you’re a first time Georgia home buyer, moving to a new home, or want to FHA refinance your existing conventional or Florida mortgage, we will show you how to purchase or refinance a home with flexible guidelines. Good Credit – Bad Credit – No Credit + No Problem + We work with everyone towards home ownership!
  • HOUSTON TEXAS FHA MORTGAGE TOPICS OF INTEREST
  • When you decide to apply for a Texas FHA mortgage you need to know you’re dealing with experienced full-time mortgage lending professionals who know GA real estate. We offer a huge assortment of Texas FHA, VA, Conventional & Private Texas mortgage programs built around Georgia home buyers and homeowners.
  • Whether you’re buying a first Texas home using our great FHA mortgage program or refinancing a home you already own using traditional FHA mortgage financing, nothing helps more than having a seasoned Texas FHA mortgage lender working hard answer all your Florida FHA mortgage questions!
  • Houston Texas Home Buyer Initial Questions
  • What is the minimum down payment for FHA Mortgage? Currently, 3.5% can from family gift or grant.
  • Can my parents or other relatives give me money? Yes, provided the money is considered a gift and your relative sign and date the proper gift letter documentation.
  • Is there a maximum FHA Mortgage Loan Amount? Yes, see maximum loan limits below based on the Georgia county.
  • What is an FHA Mortgage loan? The FHA is a division of the Department of (HUD) Housing and Urban Development. An FHA mortgage loan is a mortgage that is insured by the Federal Housing Administration (FHA) and funded by private Georgia FHA approved mortgage lenders.
    • Are FHA mortgage for Georgia first time home buyers only? NO, FHA mortgage loans are NOT only for Georgia firsttime buyers only. FHA loans can be used by first time buyers and repeat buyers alike. The FHA mortgage is often marketed as a product for “firsttime buyers” because of its low down payment and flexible qualifying requirements. FHA mortgage applicants can purchase an FHA approved investment property using and FHA mortgage loan.
    • How Does The FHA Mortgage Insurance Work? Anyone who takes out an FHA mortgage finances the  insurance into the FHA mortgage loan amount. This “Up Front Mortgage Insurance ” cost is called the “UFMIP”. The upfront mortgage insurance premium paid on all FHA mortgages is paid to the government and use the funding fee money to reimburse Georgia FHA Mortgage lenders who were forced to foreclose on mortgages that were financed to bad credit mortgage applicants. Think of the funding fee as the foreclosure “insurance fund” for the FHA Georgia Mortgage Lenders. In addition to the upfront funding fee, the Texas Mortgage Applicants is also required to pay a small monthly fee to the FHA as part of their monthly mortgage payment. The monthly fee is called monthly MIP or mortgage insurance premium.
  • Do I have to be a Georgia first time mortgage buyer to use the FHA mortgage? No you do not have to be a first time Georgia home buyer but the FHA mortgage is only for a Primary Georgia home purchase only.
  • Can I roll all the closing costs into the FHA mortgage? You are permitted to finance the upfront FHA funding fee only. FHA mortgage closing costs can be paid by the seller up to 6% and must be negotiated up front in your purchase and sale agreement.
  • Can I get an FHA Mortgage after a Foreclosure or Bankruptcy? YES! you can qualify for an FHA mortgage 3 years after the title was transferred out of your name.A Texas Mortgage Applicants may also still qualify for an FHA insured loan after declaring Chapter 13 bankruptcy, if at least 1 year of the bankruptcy payout period has passed and the Texas Mortgage Applicants has been making satisfactory payments. In these cases, the FHA mortgage applicant must also request permission from the court to enter into a new FHA mortgage loan. declaring Chapter 7 bankruptcy, if at least 2 years have passed since the bankruptcy discharge date. FHA mortgage applicants must also have re-established good credit or have opted to incur no new debts (this means you specifically chose to take out no new loans, credit cards, etc.)
  • Houston Texas FHA Mortgage Programs:
  • Hoston Texas Property Types Including:
  1. Single family Homes
  2. Town House- check for lot and/or block legal descriptions.
  3. Villas- check for lot and/or block legal descriptions.
  4. Modular Homes
  5. Manufactured homes
  6. FHA Approved condominium – Search Florida FHA Approved Condos

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About Us

We are US Mortgage Lenders. Major real estate brokerages regularly entrust their clients to our team due to our reputation for transparency, delivering on time, customer satisfaction and loyalty. With five-star customer reviews on Zillow.com and counting, you’re assured of having the backing of an experienced team.

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