An FHA Loan is a mortgage loan that is
insured by the FHA (US Federal Housing
Administration) and is provided by an FHA
approved lender. Daryle Evans is an FHA
approved mortgage lender. Having this
FHA mortgage insurance protects lenders
against loss. This has helped many lower-
income Americans borrow money to
purchase a home that they might not
otherwise be able to afford. These loans
are generally given more to new house
owners than investors. One difference
between a FHA loans and a conventional
loan is that the house must be occupied by
the owner for at least a year.
Since these
loans usually involve more risk to the
lender, the home-buyer must pay a two-
part mortgage insurance. The first is a
one-time bulk payment and a the second is
a monthly payment that is added to the
borrower’s monthly mortgage payment
The program originated during the Great
Depression in the 1930s and was intended
to provide lenders with sufficient insurance
to offset their risks The government
subsidized some FHA programs, but over
time, private mortgage insurance (PMI)
companies evolved. Now FHA primarily
serves people who cannot afford a
conventional down payment or do not
qualify for PMI. You may qualify for an FHA
loan if you have debt or a lower credit
score. You might even be able to get an
FHA loan with a bankruptcy or other
financial issue on your record.
FHA loans are available with both fixed or
adjustable rate loans. With multiple loan
terms offered, you can choose a payment
schedule which works for your financial
needs.
FHA Loans
FHA Loan
What is an
Benefits of an FHA Loan:
•
Low down payment.
•
Competitive interest rates.
•
Low or no closing costs. In some
cases, closing costs may be rolled
into the loan or even paid by the
seller or the lender.
•
Easier to qualify, even with a credit
score which is less than perfect.
You can use an FHA loan to:
•
Buy a home
•
Build a home
•
Buy a condo unit
•
Buy a mobile home
•
Buy modular or manufactured housing
•
Refinance an existing FHA loan
•
Refinance and renovate a home with
an FHA 203(k) Rehab loan
•
Refinance and renovate a home with
an FHA 203(k) Rehab loan
•
Convert a home’s equity into cash
using a cash-out refinance or a reverse
mortgage
NMLS Consumer Access
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL
MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO
THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING 2601 NORTH LAMAR,
SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE
OBTAINTED FROM THE DEPARTMENTS WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE
CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A
RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES
SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE
LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE
RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR
TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND,
PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV.
We serve the following cities and
surrounding areas:
Cedar Hill, Arlington, Mansfield,
Midlothian, Waxahachie, Granbury,
Alvarado, Burleson, Cleburne, Ennis,
Kaufman, Red Oak, Desoto, Melissa,
Allen, Fairview, Plano, Lucas, Princeton,
Farmersville, Murphy, Wylie, Rockwall,
Rowlett, Royse City, Fate, Caddo Mills,
Argyle, Haslett, Keller, Saginaw
Self Employed Borrowers Loans
Non Qualified Mortgage Loan
We have moved from 10185 Custer Road Suite 300 Plano TX 75025
to
208 Buckskin Drive Waxahachie TX 75167
We have access to
competitive rates.
We give free pre-approval analysis so give
us a call at 469-360-9716 for your free
estimate.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN
ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF
LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR
REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED
BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION
ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT
WWW.SML.TEXAS.GOV
Daryle Evans – Branch Manager | NMLS
# 264599 | AR, OK MLO 13880, and TX |
Cowtown Lending Services LLC. powered
by Barrett Financial Group, L.L.C. | NMLS
#108106 | 275 E Rivulon Blvd, Suite 200,
Gilbert, AZ 85297 | CO | TX view
complaint policy at
barrettfinancial.com/texas-complaint |
Equal Housing Opportunity | This is not
a commitment to lend. All loans are
subject to credit approval. | NMLS
Consumer Access | Visit Barrett Financial
Group’s Website