FHA Loans in Lewisville, TX
FHA loans are a common option for buyers who want a structured path to homeownership, with guidelines that may be more flexible than some conventional loans when eligible. Liberty Home Mortgage helps borrowers understand FHA loan steps in plain English, including documentation requirements and what to expect at each stage, subject to program guidelines.
We proudly serve borrowers in Lewisville (75056) and Denton County, and support eligible FHA lending throughout Texas.
If you want help comparing FHA loans with other mortgage options, working with a local Lewisville mortgage broker can make the process easier to understand and less stressful.
Apply Now • 📞 Phone & Text: 713-955-4685 • ✉️ info@libertyhomemortgage.com • 🌐 www.libertyhomemortgage.com
What Is an FHA Loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. FHA insurance allows lenders to offer mortgage options that may be accessible to a wider range of qualified buyers compared to certain conventional loans, subject to FHA rules, property requirements, and underwriting approval.
What FHA Loans Can Be Used For
FHA loan programs may be used for the following purposes, subject to eligibility:
• FHA Purchase loans for primary residences
• FHA rate-and-term refinance options
• FHA Streamline Refinance for existing FHA loans, when eligibility and net tangible benefit requirements are met
Basic FHA Eligibility (Simple Overview)
FHA eligibility depends on factors such as credit history, income, employment, available funds, and the property type. Exact requirements vary by scenario and lender overlays, and all loans are subject to underwriting approval.
• Primary residence occupancy is required
• Credit and income review apply
• FHA appraisal and property standards must be met
• Debt-to-income ratios and payment history are reviewed
FHA Down Payment and Mortgage Insurance
FHA loans may allow lower down payment options for qualified borrowers. Mortgage insurance is generally required for FHA financing. We explain upfront and monthly mortgage insurance costs and how they affect your overall payment, subject to FHA guidelines.
FHA Loan Steps
The FHA loan process typically includes the following steps:
• Initial call or application to review goals and timeline
• Document checklist based on your scenario
• Pre-approval review to confirm eligibility and price range
• Home shopping and contract review
• Underwriting, final approval, and closing
When FHA May Be a Good Fit
FHA loans may be appropriate for:
• First-time homebuyers who want a clear, step-by-step process
• Buyers who may qualify for lower down payment options
• Borrowers seeking a predictable and structured loan program
• Homeowners reviewing FHA Streamline refinance options, when eligible
FHA Compared to Other Loan Options
FHA loans are not the only option. Depending on your credit profile, down payment, and goals, you may also review:
• Conventional loan programs
• VA loans for eligible veterans and service members
• USDA loans for eligible areas and income limits
• Other mortgage refinance options, subject to program guidelines
When a Portfolio Loan May Be an Option
Some borrowers have strong real-world income but do not fit standard FHA or agency guidelines. In those situations, a portfolio loan may be an option to review, depending on documentation, property type, and lender criteria.
Frequently Asked Questions
Do FHA loans require mortgage insurance?
Most FHA loans include mortgage insurance. We explain how it works and how it affects your payment, subject to program rules.
Can FHA be used for a purchase and refinance?
Yes. FHA loans are commonly used for both purchase and refinance transactions, including FHA Streamline refinances when eligibility requirements are met.
Do FHA loans work for first-time homebuyers?
Yes. FHA loans are often used by first-time buyers. Eligibility depends on credit, income, funds to close, and property requirements.
How long does an FHA loan take?
Timelines vary based on the contract, appraisal, documentation, and underwriting conditions. Many FHA loans close within a standard mortgage timeframe, depending on the scenario.
What documents will I need?
Most FHA loans require income and asset documentation. We provide a simple checklist after reviewing your situation.
Get an FHA Quote
Tell us whether you are looking to buy, refinance, or pursue an FHA Streamline option, and where the property is located. We will explain your FHA options step by step and provide a clear checklist.
Liberty Home Mortgage
📍 Lewisville, TX 75056
📞 Phone & Text: 713-955-4685
✉️ info@libertyhomemortgage.com
🌐 www.libertyhomemortgage.com
Apply Now
Equal Housing Lender 🏠⚖️
Company NMLS: 321164 • Aslam Mansoor NMLS: 184238
Liberty Home Mortgage • 4400 State Hwy 121 STE 300 • Lewisville, TX 75056
All loans are subject to underwriting approval and credit review. Some restrictions may apply. Programs, rates, and terms are subject to change without notice.