Low down payment, flexible credit requirements, and government backing — FHA loans open the door when conventional financing feels out of reach.
FHA loans are backed by the Federal Housing Administration and designed specifically for buyers who are building credit, carrying limited savings, or purchasing their first home. In Texas markets like the Rio Grande Valley — where a significant portion of buyers are first-generation homeowners — FHA financing often bridges the gap between "qualifying on paper" and actually getting keys in hand. Rodolfo structures every FHA loan around the full payment picture, not just the rate, which means factoring in Texas property taxes, homeowners insurance, flood zone requirements, and MIP upfront so you never face surprises at the closing table.
First-time buyers, buyers with credit scores in the 580–659 range, borrowers with limited savings for down payment, and buyers using Texas DPA programs like TSAHC or TDHCA that layer on top of FHA.
FHA rates in Texas typically run 0.25–0.50% below conventional rates for borrowers with comparable credit profiles, offset partially by MIP. Total monthly costs vary significantly based on credit score, loan amount, and Texas property tax rates in your county.
30–45 days from application to closing for a clean file. Complex credit situations may take 45–60 days.
General guidelines — your specific situation may vary. Contact me for an exact assessment.
Minimum credit score of 580 for 3.5% down (500–579 requires 10% down)
Steady employment history for at least 2 years (or documented income pattern)
Property must be primary residence and pass FHA appraisal standards
Debt-to-income ratio typically under 57% with AUS approval
No bankruptcies in the past 2 years; no foreclosures in the past 3 years
FHA loan limits apply — in most Texas counties the 2024 limit is $498,257 for single-family
From first conversation to keys in hand — here's what to expect.
Each Texas market is different. Here's how FHA Loans works specifically in each area we serve.
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View ATX Details →Real questions I get asked all the time — answered directly.
Yes, in most cases. FHA does not require you to pay off all collections before closing, though some lenders add their own overlays. We work with investors that follow actual FHA guidelines — not stricter internal rules. Medical collections are generally excluded from DTI calculations entirely under FHA guidelines. Non-medical collections may need to be addressed depending on your total balance and credit profile.
FHA has two MIP components: an upfront MIP of 1.75% of the loan amount (usually rolled into the loan) and an annual MIP of 0.55% for most 30-year loans. On a $200,000 loan, that is approximately $92/month added to your payment. MIP stays for the life of the loan if you put less than 10% down — this is an important long-term cost to compare against conventional PMI, which can be removed at 20% equity.
For 2024, the FHA loan limit in Hidalgo and Cameron counties is $498,257 for a single-family home. This covers the majority of homes in the RGV market, where median sale prices are generally well below that ceiling. If you're purchasing in a higher-priced area or considering a multi-family property, limits are higher — call us and we'll run the numbers for your specific situation.
Absolutely — and this is one of the most powerful strategies available to Texas buyers. Programs like TSAHC's Home Sweet Texas grant or TDHCA's My First Texas Home can cover your 3.5% FHA down payment and sometimes closing costs. Rodolfo works with these programs regularly and will tell you upfront whether you qualify, what the income limits are for your county, and how the combined payment compares to an unassisted FHA loan.
FHA does have a program for manufactured homes, but requirements are strict: the home must be built after June 15, 1976, be on a permanent foundation, meet HUD standards, and be classified as real property (not personal property). In South Texas where manufactured housing is common, this is worth a detailed conversation — some situations work, some do not, and we can tell you quickly which category you fall into.
Pull your credit 60 days before you plan to buy — this gives time to address quick fixes
Do not open new credit cards or finance any large purchases once you are in the application process
Gather 2 years of W-2s, 30 days of pay stubs, and 2 months of bank statements early
Ask about seller concessions — FHA allows up to 6%, which can offset closing costs significantly
If your score is 579, ask us about a rapid rescore — sometimes a single action moves you past the 580 threshold
Free consultation. I'll tell you exactly what you qualify for and what your real monthly payment will be. Pre-approval in 24 hours.
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