Top Rated FHA Lender in Converse TX

Serving the Converse TX area

There’s no doubt that getting approved for a loan is tough. The process requires a ton of paperwork, and it can be frustrating to wait weeks or months to hear back from lenders.

Canopy Mortgage, LLC makes it easy to get approved for a loan. We always strive to find the best possible terms for our clients, and we’re dedicated to helping you get the FHA financing you deserve. Whether you’re looking for a refinance, purchase money loan, or some other type of mortgage, we’re here to help.

And because we understand that waiting days or even weeks for a response isn’t ideal, we’re committed to providing fast approvals and quick closings. So if you’re ready to get approved for a new loan, contact us today!

FHA Mortgage Lender in Converse

Choose the right FHA lender can be a daunting task at best.

The reason most people choose FHA over Conventional loans is due to the ease of qualifying for a loan, minimal down payments required and the quick turn around times. Most loans are approved and closing can happen in as little as 30 days or less in some cases.

Getting Approved for an FHA Loan

Everyone is a little different and there are many variables when processing a loan but there are so many things that will work in your favor. If you have no credit history or if you have late payments, those will count against you when you apply. Be sure these are known up front. Some lenders will approve you if you are able to prove you made the payments on time and there were no collections or late payments reported.

FHA Financing

FHA financing can be complicated but in the right hands with experience, the process can be fast and smooth. There are many things to look for when choosing the right lender. How long has the company been in business? Do they have good reviews? Are they registered with the Better Business Bureau? All lenders should be licensed in the state they are doing business in and HUD has a list of FHA approved lenders by state.

FHA Qualifications

FHA loan qualifications are pretty much the same across the board with most lenders except if you are borrowing over $417,000 or you qualify for the VA loan with no money down. That requires different qualifications depending on the amount you are borrowing or the county you live in. The FHA loan qualification is geared for single family residences on 1 to 4 unit properties for primary residences or second homes. You may qualify to purchase a duplex or triplex as well.

FHA Loan Benefits

FHA loans have many benefits such as low down payment requirements, credit is not as critical as conventional loans, lower credit score requirements, FHA mortgage insurance premiums only paid once upon purchase, you can roll the cost of closing costs into the loan up to certain limits, pre-qualification letters that you can print off and bring in to your mortgage lender to be pre-approved before you even find a home to purchase. Pre-approval gives you more negotiating power with the seller, knowing how much you can afford and what home you can buy.

FHA Lenders prefer this because they know it’s highly likely you’ll close on the home if your pre-qualification letter is valid and in good standing. FHA Loans are a great choice for many people and they have their benefits but there is always some risk involved when taking out a mortgage. You can’t just walk into a bank and apply for an FHA loan like you can a conventional loan. You need to meet certain qualifications and the process is a little different so having an experienced loan officer to help you navigate the process will make the process go much smoother than trying to go it alone.

About Converse, TX

  • Converse, Texas is located approximately 25 miles south of downtown San Antonio.
  • Converse has a population of more than 23,000 people and covers about seven square miles of land.
  • Converse is home to sporting and cultural venues such as the Merrell Center and The South Texas Performing Arts Association.
  • There are several parks in Converse as well including City Park and the D.W. Rutledge Water Treatment Plant Nature Preserve.
  • One area of significant importance to the community of Converse is the STAR Ranch area.
  • To the south and the west of the Converse city limits are a variety of restaurants, hotels and retail businesses.
  • In the northeast corner of Converse is Travis Air Force Base, home of the Air Force’s F-16 Fighting Falcon and A-10 Thunderbolt II aircrafts.
  • To the north of Converse is the small community of Windcrest where many of the residents commute to nearby San Antonio for work.
  • The median age of residents in Converse is older than the rest of the United States at over forty years of age.
  • Converse area contains is best described as moderate with hot, humid summers and cool winters. The average temperatures in the winter months range from the low to mid-40s; while the summer months reach into the low 90s.
  • Converse is bordered by the town of Schertz to the west and by the city of Live Oak to the east.