FHA LOANS IN AUSTIN, TEXAS

Curious About Getting An FHA Loan In Austin?

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FHA Loans Austin Texas

Are You a 1st Time Home Buyer? Do You Have Limited Assets?

An FHA loan is possibly the best home loan program for a first time home buyer with limited access to financial assets. However you should always have options, especially if you are a first time home buyer.

The FHA does not set a required minimum credit score in order to be applicable for an FHA loan but instead, each borrower's credit in considered together. These loans have some leeway, even if you have filed for bankruptcy before.

Closing Costs Associated With FHA Loans In Austin Texas

Closing costs are additional fees charged by the lender. They are not included in the purchase price of the property. Closing costs typically range between 2% - 6% of the purchase price.

How to Reduce Your Closing Costs

There are a few ways to reduce your closing costs:

Ask the seller to pay some or all of the closing costs. This can be referred to as seller concessions and can be a good strategy in a "buyers market".
Shop around for lenders and compare the rates and closing costs.
Increase you credit score. This makes your loan less risky and can lead to less cash required at closing.
Finance your closing costs. Your closing costs can be rolled into your mortgage.
Use a gift from a family member or close friend.

Mortgage Insurance Premiums In Austin Texas

The mortgage insurance premium is a fee that is automatically added into your closing cost. The fee is set at 1.75% of the purchase price. In addition, you will also have mortgage insurance premium built in to your monthly payments that ranges anywhere from .45% to 1.05% of the loan amount. This amount is updated every year according to the balance on the loan.

How to Apply for an FHA Loan Austin Texas

Before you start shopping for a home in Colorado it is a good idea to get pre-approved first. This way you will be able to know much home you can afford.

To get pre-approved for an FHA Loan go to our secure loan application. When you are pre-approved you will know how much home you can afford and your offer may be more attractive than a competitor's offer because they know you are pre-approved.

FHA Loan Background Information

The Federal Housing Administration, or FHA, was created in 1934 as part of the National Housing Act. This government agency has made sure that loans made by banks and other private lenders for home building and home buying are insured. The objective of this organization is to improve housing conditions and standards, provide a functioning home financing system, and stabilize the mortgage market. FHA loans are a result of this effort.

Since 2005, the FHA loan Program has seen a 900% growth. Some key changes have been made, making it more popular than it has ever been. FHA maximum loan limits have been raised across the board and housing prices are in a slump. This means that a higher percentage of homes qualify for FHA financing than ever before!

These FHA Loan requirement changes mean millions more can now qualify for an FHA Loan, one of the best choices for prospective home buyers in today's market.

Testimonials & Reviews

Adam Armstrong

Getting the lowest rate was the most important thing to me. I shopped 5 other lenders/brokers for my refinance. Brian was able to beat the other lenders by a significant margin. I was surprised as I thought most lenders would have similar rates. I think being that Brian is a broker and has access to hundreds of lenders gives him a leg up to finding the best rate for his customers. The process was also very straight forward and he was available when I had questions.

Brent Galas

Brian, was very easy to work with for my refinance even thru this Covid time. All documents were easy to upload electronically and his processor was detailed for what was needed. He was able to get me an appraisal waiver so no cost to me and nice to not have anyone in my house for it. Never imagined closing rate in the 2’s!! Closing was completed outside my house with masks and done in 10mins... Brian gave great service and provided me with savings for next 29 years! One year shorter than standard 30. Will use Brian again for my next investment property!

Jerred Lane

Brian Quigley is one of the most professional mortgage brokers I have EVER had the pleasure of working with. I’ve been through this process 7 times before and while none of the previous experiences were bad by any means, Brian has raised the bar to a whole new level. With time being precious, there are not many who have a lot of time to spare; he kept everything on point and on track. We closed on schedule and the detailed communication Brian provides is part of the reason why we were able to do so. I will be doing business with Brian again and highly recommend him to any one that may be in the market.

Ready to Get Started?

Are you starting to shop for homes. It is a good idea to get pre-apporved so you know how much home you can afford. When you find a home you like you can make an offer and the sellers will feel better knowing you have been pre-approved.

Apply Now

Brian Quigley

NMLS#244003
Providing Clients with Home Loans Since 2003

Hello, my name is Brian Quigley and I have been a licensed mortgage broker since 2003. Over the past 16 years I have helped thousands of people close home loans that fit their unique situation. There are many types of home loans available and I work hard to find the best home loan for you.

Customer satisfaction is my primary goal. Communicating with my clients and getting things done in a timely manner is key and is why my clients have been so satisfied over the years.

If you are looking to buy a primary residence or investment property then we can help.