Finance Your Dreams with an FHA Loan
We believe everyone deserves a home they love. Our FHA home loan programs were created for buyers looking for flexible options. With features like homeownership workshops and low down payment options, your dream of homeownership could be closer than you think.
Our FHA loan programs…
- Cater to first-time homebuyers and low-to-moderate income families
- Offer flexible credit score requirements based on your down payment
- Allow sellers, builders and lenders to pay some of your closing costs
* Private mortgage insurance (PMI) is not required for any conventional loan with a down payment of at least 20%.
FHA Loans in Corpus Christi
Searching for the ideal mortgage solution? For many repeat and first-time home buyers in Corpus Christi, Texas, an FHA loan offers the easiest route to homeownership. This form of financing offers a number of advantages, and the mortgage professionals at PRMI can determine if it might be of benefit to you.
FHA loans are backed by the Federal Housing Administration, and that being the case, a mortgage lender can be more lenient when it comes to the credit score, credit history and debt-to-income requirements. The FHA mortgage program is designed to help people on tight budgets become homeowners, and the lower bar for qualifying certainly makes it an attractive option for first-time home buyers.
But, the relaxed eligibility requirements aren’t the only reason people like FHA mortgages. This type of loan allows for a down payment as low as 3.5 percent of the purchase price of a Corpus Christi home. Plus, since interest rates are competitive, borrowers enjoy affordable monthly mortgage payments. Closing costs are manageable, too, as lenders can roll some costs into the loan total.
With all of that in mind, it’s no wonder FHA financing is popular among first-time buyers – but would-be southern Texas homeowners aren’t the only people who can capitalize on the FHA mortgage program. For anyone who wants to finance a Corpus Christi home with a minimal amount of cash, it can be a solid choice.
At PRMI, we specialize in matching repeat and first-time home buyers with the right mortgages. Our mortgage company experts would be happy to help you decide if an FHA loan is your ticket to homeownership. Contact us today!