FHA Loan Specialists in Lewisville, TX
Looking for a fha loan specialist in Lewisville? Review the directory below to compare your options.
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State Mortgage Licensing Authority of Texas before hiring.
Showing 13 fha loan specialists in Lewisville, TX
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An FHA loan specialist in Lewisville Texas helps homebuyers navigate Federal Housing Administration loans which offer lower down payments and flexible credit requirements. Lewisville is part of the Dallas-Fort Worth metroplex where FHA loan limits for 2024 are set at $498,257 for a single-family home in Denton County. These specialists guide borrowers through Texas-specific requirements such as the state's homestead exemption and property tax proration rules.
What Does a FHA Loan Specialist in Lewisville Cost?
Typical costs for an FHA loan in Texas include an upfront mortgage insurance premium of 1.75% of the loan amount and an annual MIP of 0.15% to 0.75% depending on loan term and down payment. Closing costs in Lewisville range from 2% to 5% of the purchase price and include appraisal fees (around $500 to $700) title insurance and recording fees. Lender origination fees vary but are often 1% of the loan amount. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the minimum FHA loan requirements in Lewisville Texas?
Borrowers need a minimum credit score of 580 for a 3.5% down payment or 500 with a 10% down payment. The property must be your primary residence and meet FHA appraisal standards. Texas law also requires a 60-day seasoning period for any recent foreclosure.
How do FHA loan limits work in Denton County Texas?
FHA loan limits for Denton County in 2024 are $498,257 for a one-unit property. Higher limits apply for two to four unit properties. These limits are set annually by the Department of Housing and Urban Development and are based on median home prices in the area.
Can I use an FHA loan for a fixer-upper in Lewisville?
Yes the FHA 203(k) loan allows you to finance both the purchase and renovation costs. Texas law requires licensed contractors for structural work and permits from the City of Lewisville. The loan amount is based on the after-repair value of the home.