HOUSTON, TEXAS – DECEMBER 31, 2021 – Texas FHA Home Loan- a subsidiary of Capital Home Mortgage Team, is pleased to announce the increase of the FHA loan limits for 2022. Effective January 1, 2022, the baseline limit for most single-family homes will be $420,680. FHA loan limits are even higher in high-cost areas up to $970,800.
Texas FHA Loan is the easiest and most lenient home loan program to qualify for. They offer a low down payment and are available to homebuyers with less than perfect credit. Capital Home Mortgage is committed to providing excellent customer service to ensure the smoothest possible transaction throughout the loan process. Research Texas FHA loan options available through TexasFHA.org.
FHA loans are the most common and widely used mortgage program in the Houston area, from first-time homebuyers to seasoned home buyers. With FHA’s wide range of products, every borrower can ensure that an FHA loan program suits their situation.
They offer a wide selection of mortgages:
203(b) – the country’s most widely used home loan program.
203(k) – combines the cost of rehabilitation with the house’s purchase price.
203(h) – a rehab loan for disaster victims available to those affected by a calamity or natural disaster where the property is located in a federally declared major disaster areas
Construction Loan – a construction-to-permanent loan program that converts the interim financing to a permanent long-term fixed-rate loan.
HECM – commonly known as Reverse Mortgage, exclusive to homeowners 62-years and older.
Streamline Refinance – used to refinance an existing FHA loan to another FHA loan. Does not need a new appraisal, a new credit report, or both.
FHA loans have plenty of advantages over conventional loans:
Low Down Payment – FHA loans only require a 3.5% down payment.
Lenient Qualification Guidelines – since the federal government insures the loan against future default, the qualification criteria are less stringent than conventional loans.
Limited Closing Costs – the closing costs for FHA loans are restricted and limited. There can be no unnecessary fees that a lender may charge the borrower.
Sellers Concessions – FHA allows the seller to contribute up to 6% of the sales price as a concession to the buyer to cover their closing costs and prepaid items.
Assumable Loan – the loan is assumable; the buyer can assume the seller’s original mortgage instead of getting a new loan with a higher rate, credit qualifying.
ABOUT THE COMPANY
Capital Home Mortgage Team is a national mortgage lender that offers FHA home loan programs from borrowers with tier-1 credit to those with not-so-good credit. They offer purchase and refinance loans, from the standard 203(b) to FHA construction loans, 203(k) loans for homes that need rehabilitation, and Home Equity Conversion Mortgage aka Reverse Mortgage.
According to Conor Hayhurst, Managing Director of Capital Home Mortgage, “We have a loan program for every borrower in Texas. We have streamlined the mortgage loan transaction to make the entire process as efficient and pleasant as possible.”
Company Name: Capital Home Mortgage, powered by Sun West Mortgage, Inc. NMLS#3277
Contact Person: Conor Hayhurst
Email: Send Email
Address:6131 Orangethorpe Ave., Ste 500
City: Buena Park
Country: United States