FHA Loans

FHA Loans

FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA).  Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.Typically the borrower can be approved with 3.5% down vs 20% that is required on other loan programs. As of 2020, the FHA loan limit for most of the country is $331,760. Check the property located in the county for the actual limit.

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Licensing

Greatwall, Inc. NMLS #: 272209 (TX)
DBO License #: 603K380 (CA)
Universal Realty License #: 538691 (TX)
Texas License Disclosure

Greatwall Inc. - Universal Mortgage
11500 State Highway 121, Suite 410
Frisco, TX 75035

Main Number: 469-916-5272
Toll Free: 866-880-9255
California Office: 469-208-4999
Fax: 469-916-5275
Email: info@greatwallmortgage.com

Hours:
MON-FRI 9AM - 5PM
Saturday by appointment

Figure: 7 TAC §80.200(b) "CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV."