Want to get a great deal on real estate in Texas and think that a short sale or foreclosure is the way to go? The first hurdle to overcome after identifying the property is where to get the funds to fix it up. The FHA 203k rehab loan is the answer.
The FHA 203k Rehab loan in Texas is a wonderful program for buyers who don’t have the 20% down payment required for a conventional construction loan
As part of the new CARD Act of 2009, companies advertising free credit reports in Texas are now required to clearly disclose that what’s being marketed isn’t the free credit report you’re entitled to receive by law.
The FHA 203k loan allows you to purchase one of these properties and roll the cost of the repairs into the loan. The loan allows you to use the “after improved value” so the construction money can be rolled in the loan then draws are made for the improvements with the end being one loan with a great low FHA rate!
Zero-down home loan programs in Texas are few and far between these days, but one that remains available might be of interest to you – especially given some changes that make it more accessible.
USDA Guaranteed Rural Development loans offer 100% financing with no monthly Private Mortgage Insurance. While there are some geographic limitations for this program, if you are interested in eligible properties, you should take notice.
If you have had to declare bankruptcy in Texas you are not ineligible for a mortgage loan. For the most part it’s just a matter of time before you can qualify for a loan. Generally speaking you need about 3 years from the time the bankruptcy was discharged. During that time it’s important to work on rebuilding credit and keeping your trade lines current.
If you are in the market for a new home but need some money for down payment, closing costs, etc then you may qualify for a grant from Rockwall County
While credit repair in Texas is necessary for some, it’s not the only way to increase your credit score
Grand Prairie and Rockwall Counties in Texas have loan and grant programs to help home buyers with their purchases.
Secured credit cards are an optimum way to start rebuilding your credit scores. You want a minimum of two credit cards and/or secured credit cards. The more credit cards you have the more opportunities to add points to your scores as long as you manage those cards effectively.
*This is not an offer to lend. 
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