Custom Home in Gated Community with Lake Views for Miles

Custom home with to many upgrades to mention. Seller spared no expense on building this beautiful home with miles and miles of Lake and Texas Hill country views. This home offers Bosch appliances, Custom cabinets with the refrigerator matching, Wood floors throughout, Custom antique doors off the living and dining room, fireplaces inside and outside, spacious decks and patios with a custom heated pool and hottub. Outdoor Kitchen perfect for entertaining as your guests watch TV outside and enjoy the pool.

 

 

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FHA Loan Requirements

The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created. Learn more about FHA loan requirements and guidelines.

FHA MORTGAGE INSURANCE
FHA insured loans require mortgage insurance to protect lenders against losses that result from defaults on home mortgages.

FHA LOAN LIMITS
FHA lending limits vary based on a variety of housing types and the state and county in which the property is located.

LOAN CHECKLIST
Before you start the loan process, you’ll want to be prepared for the loan application. Have your information organized and ready for your loan officer. Be prepared to pay for property appraisal and a credit report.

CLOSING COSTS
While FHA defines which closing costs are allowable as charges to the borrower, the specific costs and amounts that are deemed reasonable and customary are determined by each local FHA office.

FHA DEBT RATIOS
In order to prevent homebuyers from getting into a home they cannot afford, FHA guidelines have been set in place requiring borrowers and/or their spouse to qualify according to set debt to income ratios.

FHA CREDIT ISSUES
An FHA loan applicant’s past credit performance that demonstrates good credit history and a solid track record of timely payments will likely be eligible for the mortgage.