Introduction
Buying a home can be an exciting yet stressful experience. One of the biggest hurdles to overcome is figuring out how to finance the purchase. Fortunately, there are a wide variety of mortgage options available in today’s market. If you’re considering an FHA loan in Lumberton, Texas, you’ll want to know which lenders are available and when you can visit them.
What is an FHA loan?
FHA loans are mortgages that are insured by the Federal Housing Administration. They’re designed to help first-time homebuyers, low-income earners, and those with less-than-perfect credit obtain a mortgage. FHA loans typically require a lower down payment and have more lenient credit score requirements than conventional loans.
Why consider an FHA loan?
If you’re struggling to come up with a large down payment or have a less-than-perfect credit score, an FHA loan may be a good option for you. With an FHA loan, you may be able to put down as little as 3.5% of the purchase price of the home. Additionally, FHA loans typically have lower interest rates than conventional loans, which can save you money over the life of the loan.
Where can I find FHA mortgage lenders in Lumberton, TX?
There are several lenders in Lumberton, TX that offer FHA loans. Some of the top lenders in the area include:
- Wells Fargo Home Mortgage – 521 S Main St, Lumberton, TX 77657
- Bank of America Home Loans – 52 N LHS Dr, Lumberton, TX 77657
- First Financial Bank – 565 S Main St, Lumberton, TX 77657
What are the store hours for FHA mortgage lenders in Lumberton, TX?
The store hours for FHA mortgage lenders in Lumberton, TX may vary depending on the lender. Generally, lenders are open Monday through Friday during normal business hours. Some lenders may also have weekend hours or extended hours during peak homebuying season.
Wells Fargo Home Mortgage store hours in Lumberton, TX
Wells Fargo Home Mortgage in Lumberton, TX is open Monday through Friday from 9:00am to 5:00pm. They are closed on weekends.
Bank of America Home Loans store hours in Lumberton, TX
Bank of America Home Loans in Lumberton, TX is open Monday through Friday from 9:00am to 5:00pm. They are closed on weekends.
First Financial Bank store hours in Lumberton, TX
First Financial Bank in Lumberton, TX is open Monday through Friday from 9:00am to 5:00pm. They are closed on weekends.
What should I bring when applying for an FHA loan?
When applying for an FHA loan, you’ll need to provide several documents to the lender. Some of the documents you may need to bring include:
- Proof of income (pay stubs, tax returns, etc.)
- Proof of employment
- Bank statements
- ID or driver’s license
- Social Security card
- Proof of homeowners insurance
What is the FHA loan application process like?
The FHA loan application process is similar to that of a conventional loan. You’ll need to provide the lender with your personal and financial information, as well as documentation to support your application. The lender will then review your application and determine whether you’re eligible for an FHA loan.
What are the eligibility requirements for an FHA loan?
To be eligible for an FHA loan, you must meet certain requirements. Some of the requirements include:
- You must have a credit score of at least 500
- You must have a debt-to-income ratio of 43% or less
- You must be able to provide proof of income and employment
- You must be a U.S. citizen or have permanent residency status
What are the benefits of using an FHA-approved lender?
When choosing a lender for your FHA loan, it’s important to choose an FHA-approved lender. FHA-approved lenders have been vetted by the Federal Housing Administration and are authorized to offer FHA loans. By using an FHA-approved lender, you can be confident that you’re working with a reputable lender who is knowledgeable about the FHA loan process.
Conclusion
If you’re considering an FHA loan in Lumberton, TX, it’s important to know where to find FHA-approved lenders and when they’re available. By doing your research and choosing an FHA-approved lender, you can be confident that you’re getting the best mortgage option for your needs.