Top Rated FHA Lender in Live Oak TX

Finding the best FHA lender might be difficult at best.

FHA financing might be challenging, but in the hands of knowledgeable professionals, the procedure can go quickly and without a hitch. When selecting the best lender, there are several factors to consider. How long has the firm been operating? Do they have positive feedback? Do they have a Better Business Bureau registration? Every lender must have a business license from the state in which they operate, and HUD offers a list of FHA-approved lenders organized by state.

FHA Lender in Live Oak, TX

Most individuals prefer FHA loans over conventional ones because they are quicker to process, demand lower down payments, and are easier to qualify for. The majority of loans are granted, and closings may take as little as 30 days.

FHA Loan Requirements

There are numerous variables and individual differences while processing loans, but there are a lot of things that will go in your favor. When you apply, it will be taken into account whether you have a negative credit history or a history of making late payments. Make sure you are upfront about these. If you can demonstrate that you made the payments on time and there were no collections or late payments reported, some lenders would accept you.

Except if you are borrowing more than $417,000 or you are eligible for a VA loan with no down payment, the requirements for FHA loans are essentially the same across the board with most lenders. Depending on the amount you are borrowing or the county you live in, that necessitates various criteria. For permanent residences or second houses, single family homes on properties with one to four units are the focus of the FHA loan qualifying. Additionally, you might be able to afford a triplex or duplex.

FHA Loan Benefits

FHA loans have a number of advantages, including low down payment requirements, less stringent credit requirements than conventional loans, only one payment of the FHA mortgage insurance premiums required at closing, the ability to roll certain closing costs into the loan up to a certain amount, and pre-qualification letters that you can print out and present to your mortgage lender to get pre-approved before you’ve even found a home to buy. With pre-approval, you have greater negotiation power with the seller since you will know what house you can afford and how much you can spend.

This is preferred by FHA lenders since they are aware that if your pre-qualification letter is legitimate and in good standing, you are quite likely to close on the property. Taking out a mortgage always carries some risk, but FHA loans are a terrific option for many individuals and they have their advantages. Like a conventional loan, an FHA loan cannot be applied for by just walking into a bank. It will go much more smoothly if you work with an experienced loan officer to guide you through the process because you must fulfill specific requirements and the procedure is a bit different.

About Live Oak, TX

  • Live Oak, Texas is located about 30 miles southeast of San Antonio.
  • Live Oak is part of the Greater Bexar County area.
  • Live Oak was founded by David Thomas in the 1850s as a farming community with cotton as the main crop in the area.
  • Live Oak has a total area of 2 square miles and a population of around 5,000 people, according to the U.S. Census Bureau.
  • Over the years, Live Oak have changed dramatically as more and more people have moved to the city.
  • Live Oak, TX has bodies of water that bring a lot of enjoyment to its residents and tourists alike.
  • To the south of Live Oak are the City of Schertz and Cibolo, TX.
  • Live Oak is located southwest of Universal City and Windcrest.
  • The Guadalupe River runs to the east of Live Oak, Texas while to the north is Helotes, Texas.
  • The city of Live Oak is located in zip code of 78233.
  • The climate of Live Oak is characterized by hot and dry summers with an average high of around 95 degrees Fahrenheit and a winter average low of about 55 degrees.
  • Live Oak area contains several different subdivisions including Los Laureles, Parkview, Rio Seco Ranch, Cottonwood Creek, Pecan Valley Ranch Estates, River Oaks Country Club and Rio Vista Lakes.
  • Live Oak’s diverse population includes many different types of families and couples such as single parents with children, married couples with or without children and even senior citizens with grown children or grandchildren.
  • Live Oak has emerged as one of San Antonio’s fastest growing communities in recent years with new residential housing subdivisions popping up all over the city.
  • Live Oak is bordered by Helotes and Windcrest to its north as well as Cibolo to its south and the city of Schertz to the west.
  • The nearest airport in Live Oak is the Stinson Municipal Airport which is located in neighboring Cibolo.