Your Texas Trusted FHA Lender

LONE STAR FINANCING

TEXAS FHA LOANS

First Time Buyers - Only 3.5% Down

Texas FHA Home Loans: Affordable, Low Down Payment Options for First-Time Buyers

Welcome to Lone Star Financing – Your Texas FHA Home Loan Experts!  FHA Loans in Texas offer low down payments, flexible credit requirements, and competitive interest rates. 


FHA LOAN QUALIFICATIONS
 

To qualify for an FHA loan, you’ll need to meet the following requirements.

  •  Stable employment/income

  • Minimum FICO 600

  •  Must be primary residence

  • 50% or lower debt to income ratio

  • Minimum 3.5% down payment

  • Money to cover the upfront mortgage insurance premium (UPMIP)

Texas FHA Mortgage

With competitive rates and a focus on customer satisfaction, we make FHA loans accessible and affordable for first time home buyers in Texas. 

FHA Mortgage Loans
Texas FHA Loans

$498,257 MaX Value

Stable monthly payment with less money down

Minimum FICO Credit Score

600

Minimum Down Payment

3.5%

Maximum Loan To Value

96.5%*

Maximum Debt To Income

50%*

Except Ons To 55%

Mortgage Insurance

Yes

Years Since Bankcruptcy

2

Years Since Foreclosure

3

Years Since Short Sale

3

Special Qualification Requirements

NONE

LONE STAR FINANCING - TEXAS FHA LOANS
FHA Limits for 2024 in Texas- $571,500
 
  • 2024 FHA loan limits: $571,500 for high-cost areas, $498,257 for low-cost areas.

  • Minimum down payment: 3.5%, with higher limits for high-cost areas.

  • FHA offers special programs like the 203(k) for home improvements 

FHA - Things to Know

We specialize in Texas FHA loans, helping first-time buyers and those with lower credit scores secure affordable and hassle free home financing. 

Why Lone Star Financing

Close on Time

Our goal is to close every loan in 30 days or less. With in-house underwriting, processing, and closing, we ensure fast approvals and timely funding.

Low Rates & Fees

Texas FHA loans with Low Rates, Low Fees and Fast Closings. Texas Approved FHA Lender.

Customer Service

FHA loans in TX with top-notch customer support. We will be with you at every step from application to closing. Read what our customers are saying!

Lone Star Financing - Approved Texas FHA Lender

Pre-approval for FHA loan in Texas
Jump in Front of the Line
Prequalify Today

 Start your preapproval online!

Why Choose Us? It's our People!
Austin, TX Loan Officer

Shawn Dulac

Sr. Loan Officer
NMLS #1320463

Pam Trevino - TX Loan Officer

Pam Trevino

Sr. Loan Officer
NMLS #2188276

Ricardo Trejo - Lakeway, TX

Ricardo Trejo

Branch Manager
NMLS #347481

Eden Vick - TX Lender

Eden Vick

Sr. Loan Officer
NMLS #490185

Roman Balley - Lone Star Financing

Roman Balley

Production Manager
NMLS #2267211

Read Our Reviews
Rebeka L
Rebeka L
Heartland, TX
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Brenda was quick to respond to questions I had and made herself available to me. She was very patient and understanding when having to resolve issues regarding my ex. The entire team, in fact, was great and a true godsend!
Michael Underwood
Michael Underwood
Austin, TX
Read More
As a realtor here in Austin, TX, I’ve been working with Lone Star Financing for almost a decade. The loan officers at Lone Star financing are without a doubt the best communicators in the business. They provide timely updates to me and my buyers from the start of the loan to close of sale and I can't tell you how important that is during a real estate transaction. I recommend all of my clients use Lone Star financing because unlike a lot of mortgage companies they can close loans on time. During one of the most critical times of my customers lives, it's imperative that all links of the chain are strong. Having the right lender in place is key. Thanks Lone Star!
Jordan Rodriquez
Jordan Rodriquez
Bastrop, TX
Read More
I was thoroughly impressed with the customer service from start to finish. I had a lot of questions and they were all answered. I recommend lone star to first time home buyers as well as those who have note done it before.
Veronica M.
Veronica M.
Camey, TX
Read More
Making me feel comfortable through the entire process as I was a bit nervous but Keith’s ways with his words and staying professional never made me feel overwhelmed, as well as the staff members that also helped me. The whole process was a smooth ride with no bumps and that was a great feeling making this single mother very happy with the outcome!!! Thanks!!!
Scott Kruse
Scott Kruse
San Marcos, TX
Read More
I have gone through the home financing five times, and this is my second re-finance. The team at Lone Star Financing was the best experience I've ever had going through the mortgage process. The previous finance company I used to purchase my home was the worst experience I'd ever had in getting a mortgage. I was extremely hesitant to go through the re-finance process, but with the interest rates being so low I knew I would be saving a lot of money. I did the research to find a highly reviewed local financing company, and Lone Star Financing was the best. They did an outstanding job helping me through the process, made it incredibly easy and quick. More...
David, Y
David, Y
San Antonio, TX
Read More
Thanks for helping us through the loan refinance process. P.S. The only reason we can't refer family and friends is we don't live in Texas or have any contacts there!
Lisa Elston
Lisa Elston
Austin, TX - 1 month ago
Read More
Lone Star Financing was the best-from the first phone call and I can honestly say there will be no last phone call-when he asked for docs I delivered and when I asked for something (answers) he delivered-very happy with the process he took my husband and I through and we are now blessed to own our dream home -I’ve already referred him To our son and he will be ready to purchase probably in the next six months and told him that Jimmy Smith is the man!!
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About FHA Loans in Texas

What are the Benefits of  FHA Loans?

So what is a Texas FHA loan? A Federal Housing Administration (FHA) loan is a government-backed mortgage designed to help individuals with lower credit scores and limited down payment funds purchase a home.  

  1. Lower Down Payment: A big advantage to first time home buyers is that a FHA down payment can be as low as 3.5% of the home’s purchase price. 

  2. Flexible Credit Requirements:  While conventional loans usually require a higher credit score, at Lone Star Financing we can go down to 600 credit on FHA loans.

  3. Competitive Interest Rates: FHA mortgages in Texas come with competitive interest rates, which can reduce your monthly mortgage payment compared to other home loan options.

  4. Assumable Loans: Texas FHA loans, are one of the few loan types that are “assumable” meaning that you when you sell your home, the buyer may be able to take over your existing loan under its original terms. This can be a favorable selling point for prospective buyers in Texas.

  5. High Loan Limits: FHA loan limits in Texas for 2024 are $498,257, with a maximum of $571,550 for high-cost areas. 

What are the Texas 2024 FHA Loan Requirements?

Texas FHA home loans are a perfect option for first time home buyers, due to lower down payments and easier credit guidelines.  The FHA program is designed primarily to assist borrowers who do not meet the requirements for conventional loans. But going with a FHA loan may still be an option for conventional borrowers.

  1. Credit Score: While Texas FHA loans are more lenient than conventional loans, a higher credit score can still improve your chances of approval and result in better loan terms.

  2. Down Payment: A minimum down payment of 3.5% of the purchase price or appraised value is required for those with credit scores of 580 or higher. If your credit score is between 500 and 579, a down payment of at least 10% is necessary.

  3. Debt-to-Income Ratio: FHA guidelines suggest that your total debt-to-income (DTI) ratio should be no more than 43%. This includes all monthly debts, such as your mortgage payment, credit card bills, and other loans.

  4. Property Requirements: The property must be a primary residence and meet certain standards set by the FHA to ensure it is safe and habitable. An FHA-approved appraiser will assess the property.

  5. Mortgage Insurance: Texas FHA loans require both an upfront mortgage insurance premium (UFMIP) and monthly mortgage insurance premiums (MIP). This insurance protects the lender in case of default and is a key feature of FHA loans.

Texas FHA Refinance 

* Streamline Option (Rate and Term)
* No Appraisal / No Income
* Full Doc Loans
* Rate and Term / CashOut 
* Closing Costs can be rolled into loan
* Terms: Up to 30 Years
* Purchase financing: up to 96.5% LTV
* Refinance financing: up to 97% LT

Texas FHA mortgage refinancing offers homeowners an opportunity to lower their mortgage rates and adjust their loan terms, potentially leading to reduced monthly payments and significant long-term savings. This type of refinancing, backed by the Federal Housing Administration, is especially beneficial for those with existing FHA loans or for first-time refinancers. It provides access to favorable terms with less stringent credit requirements compared to conventional loans. Additionally, refinancing in Texas can help consolidate debt or access home equity, making it a versatile option for improving financial stability and managing housing costs.

 

WHAT ARE TEXAS FHA QUALIFICATIONS? 

For single-family homes, the 2024 FHA loan limit in Texas is $498,257 but it varies by county. 

To qualify for an FHA loan, you’ll need to meet the following requirements.

* Stable employment/income

* The home will be your primary residence

* No foreclosures (last 3 years) 

* 50% or lower DTI ratio

* Minimum 3.5% down payment

* Money to cover the upfront mortgage insurance premium (UPMIP), which could be anywhere from 2 – 6% of the purchase price

FHA mortgages in Texas offer low down payments, flexible credit requirements, and competitive interest rates.  

Things to know about Texas FHA Loans

  1. Pre-Qualification: Start by getting pre-qualified for your  FHA loan in Texas. This involves providing basic financial information to a lender to determine how much you might be eligible to borrow.

  2. Documentation: Gather necessary documentation, including proof of income, credit history, and employment verification. This information helps the lender assess your financial stability.

  3. Application Process: Complete the FHA loan application with Lone Star Financing to get started online. We will review your financial documents, credit report, and property details to determine your eligibility.

  4. Home Inspection and Appraisal: Schedule a home inspection and appraisal. The FHA requires an appraisal in Texas to ensure the property’s value supports the loan amount and meets safety standards.

  5. Loan Approval: Once your loan is approved, you’ll proceed to closing. During closing, you’ll review and sign final loan documents, and the mortgage will be funded.

Call or Apply Online and see what Lone Star Financing was voted the Best FHA lender in Texas.  Whether you need an FHA loan or VA loan in Texas, we’ve got you covered!