Texas Home Equity Loan Laws

Minimum Credit Scores for FHA Loans – This is definitely the case for any potential borrower who investigated their FHA loan options recently. FHA issued new guidance in the last several years on the minimum credit scores needed for certain FHA guaranteed home loans. Minimum credit score requirements for FHA home loans depend on which FHA loan product the applicant needs.

A reverse mortgage loan allows certain homeowners to access a portion of their home equity as cash and defer payment of the loan until they pass away or sell or move out of their home. Borrowers, however, are still responsible for paying property taxes and homeowner’s insurance during the term of the reverse mortgage loan.

An innovator since its inception, loanDepot was the first nonbank lender to offer home, personal and home equity loans. Today, loanDepot has funded. at every stage of the sale. A licensed Texas.