Dallas Texas FHA Mortgage

Dallas Texas FHA Loans are mortgage loans that are backed by the federal government and allow the person receiving the Dallas Texas FHA Mortgage to have a low down payment. Some people misunderstand the purpose of the FHA loan and believe it is only for first time home buyers and people with previous bad credit. Actually, an FHA mortgage is great for all Dallas, Texas residents.

Some of the advantages of a FHA Mortgage Loan in Dallas Texas are:

1) A low minimum down payment of 3.5%.

2) The seller can contribute up to 6% of the loan price towards the closing costs or expenses which can reduce out of pocket costs.

3) Expedited refinancing options are available with a positive history for the most recent 12 months. With an expedited refinance the requirements for paperwork are great decreased.