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Reviewed by David Ghazaryan, Mortgage Broker, NMLS 1486726 · iQRATE Mortgages, Company NMLS 1862492 · Last updated: November 12, 2026
An FHA loan is a mortgage insured by the Federal Housing Administration. It is built for buyers who want a lower down payment, or who have a credit profile that is not perfect. For a one-unit home in Collin County, the 2026 FHA loan limit is $563,500. The 2026 conforming limit is $832,750. iQRATE Mortgages is a licensed Texas mortgage broker. We compare lenders for FHA purchase files across Plano and the rest of the Dallas–Fort Worth area. We are not the lender, and this page is not a commitment to lend.
Start your FHA application or call (702) 766-3744.
5.0 stars from 87 reviews on Experience.com (October 2026) · Read David's reviews on Experience.com
FHA loans are insured by the government. That insurance lets approved lenders offer a lower down payment and more flexible credit rules than many conventional loans. The buyer pays for that insurance through mortgage insurance premiums. The CFPB explains the basics on its FHA loans guide.
Plano is a corporate headquarters city. Toyota Motor North America and the Legacy West campuses draw many relocating buyers. Some of them are first-time buyers, and some are selling a home elsewhere. FHA can fit either group when the home is a primary residence under the FHA loan limit.
Plano homes are often 25 to 40 years old. That matters for FHA, because the appraisal doubles as a condition review. We cover that below.
The FHA limit depends on the county where the home sits. HUD publishes the limits in its 2026 forward mortgage limits file. Collin County is where Plano sits for most addresses. Here are the 2026 one-unit limits we use for several Texas counties.
| County | 2026 FHA one-unit limit |
|---|---|
| Collin, Dallas and Tarrant | $563,500 |
| Travis | $571,550 |
| Bexar | $557,750 |
| Harris, Fort Bend and Montgomery | $541,287 |
| El Paso and Bell | $541,287 |
The Collin County conforming limit is $832,750. Willow Bend and parts of West Plano often need jumbo financing, because prices there can pass the FHA and conforming limits. If your target price is above the FHA limit, see our Plano jumbo loans page or the general jumbo loan page.
HUD publishes FHA policy through mortgagee letters. Official sources: Mortgagee Letter 2025-23, Mortgagee Letter 2023-05 and HUD news release 25-145.
We lend across these Plano-area ZIP codes. The table also notes what usually matters for an FHA file in each area.
| Area | ZIP code | FHA file notes |
|---|---|---|
| Legacy and Legacy West | 75024 | Newer townhomes near the campuses. Condo and townhome projects can need approval checks. |
| Willow Bend and Deerfield | 75093 | Prices can run past the FHA limit. Compare conforming and jumbo options. |
| West Plano | 75025 | Some streets sit in Frisco ISD. That changes taxes and resale. |
| Old Downtown Plano | 75074 | Older homes. Roof age and foundation items come up in appraisals. |
| Russell Creek and Los Rios | 75074, 75075 | Mostly 1980s to 2000s single-family homes with established HOAs. |
| East and North Central Plano | 75023, 75075 | Established single-family stock. Check HOA rules early. |
Usually, but older homes deserve an early look. An FHA appraisal is also a safety and condition check. Peeling paint, a roof near the end of its life, and other safety items can delay a file. Many Plano-area homes are 25 to 40 years old. North Texas clay soil makes foundation movement and roof age common items for appraisers and insurers. Get an inspection early.
If you are buying a condo or townhome, check the project first. HUD runs a public FHA condo project lookup you can use before you write an offer.
The video explains that an FHA appraisal is also a safety inspection. Peeling paint and a roof with little remaining life are examples.
We do not quote rates or fee amounts on this page. Your costs depend on the price, the loan type and the county, and every line is itemized on your Loan Estimate. Here is how the costs break down.
Want your own numbers? Call (702) 766-3744 or send us a message and ask for an FHA comparison.
Texas property taxes are high, so escrow can be a larger share of an FHA payment than the mortgage insurance. The 2025 combined rate for Plano with Plano ISD was about $2.21 per $100 of value before exemptions. That compares with about $2.72 per $100 in Dallas with Dallas ISD. West Plano parcels in Frisco ISD or Lewisville ISD have different rates.
Texas bills property tax each October and collects it in arrears. At closing, lenders usually collect a few months of taxes into escrow. The seller's prorated tax credit offsets part of that.
| Topic | FHA | Conventional |
|---|---|---|
| Who insures it | Federal Housing Administration (HUD) | Private mortgage insurance, when required |
| Credit flexibility | More forgiving of past credit issues | Usually stricter |
| Mortgage insurance later | Can last for the life of the loan, depending on the file | Can be removed once enough equity builds |
| Occupancy | Primary residence only | Ask us; it depends on the lender and program |
| Gift funds | The whole down payment can be a gift from family and some other sources | Ask us; it depends on the lender and program |
| Seller help | Sellers can pay part of closing costs and prepaids, up to a HUD cap | Ask us; it depends on the lender and program |
| Appraisal | Includes safety and condition standards | Ask us; it depends on the lender and program |
| Loan limit | $563,500 for one unit in Collin County | $832,750 conforming in Collin County |
With a strong credit score and a larger down payment, conventional mortgage insurance can cost less than FHA and can be removed later. With a lower score, higher debt or a recent credit event, FHA is often cheaper or the only option. We price both with the same down payment and show you the 5-year and 10-year cost side by side. Learn more about our FHA loan program page.
FHA is more forgiving of past credit issues than most conventional programs. Two points come up often.
Both points come from our own videos. FHA Loan Secret: Medical Debt Doesn't Kill Approval covers the first. FHA Loan Denied? Stop Blaming Medical Debt covers the second.
Often, yes. Many of the buyers we see near Plano are relocating for work, and FHA can fit when the new home will be your primary residence. Many lenders accept a signed, non-contingent offer letter if you start within a set window after closing. We confirm your start date, your salary and any sign-on or relocation bonus. Lenders treat one-time payments differently from base pay. Sign-on and relocation bonuses can help with cash to close. They usually do not count as ongoing income.
If your old home has not sold, lenders count both payments unless it is under contract or leased. A bridge loan or a buy-before-you-sell program can help. Employer-paid closing costs and buyouts change your cash to close, so we build them into your Loan Estimate.
Program rules change, and not every program pairs with every loan. We check this with you before you write an offer. Call (702) 766-3744 to talk it through.
Look up any lender or loan officer on NMLS Consumer Access.
No. FHA is for your primary residence. If you are buying a rental, other programs fit better. A DSCR loan qualifies on market rent, can close in an LLC and needs no tax returns. Plano has corporate and school demand that supports rents. Short-term rentals require city registration and compliance with zoning and nuisance rules. Many HOAs prohibit them.
Not sure which fits? Call (702) 766-3744 and we will compare them for your file. These resources compare the two programs.
Call David's team at (702) 766-3744. Ask for an FHA review of your file. You can also use our contact page. Prefer to start online? Use the application form.
For the full picture of how we serve this city, see our Plano mortgage broker page. You can also contact us, read client reviews or learn about iQRATE.
These are verbatim company-wide reviews from other markets. They did not come from Plano-area buyers.
"David was very professional and went above and beyond to help me purchase my first home. He was very knowledgeable, experienced, and thorough. Anytime I had concerns, he was always there to patiently answer all my questions. I highly recommend David if you are looking to purchase a home."
— Nomi E., Las Vegas, NV (Zillow, 2018; FHA first-home purchase). Company-wide review, other market.
"My experience with the IQRATE team was phenomenal. I bought my first house and they helped me through the entire process. David , Andrei & Gayane were so helpful, communicative & patient with me as I had so many questions throughout the entire process. They made everything so simple & effortless & I will definitely be working with them for any mortgage needs I have."
— Anthony Kingston (Google). Company-wide review, other market.
"Buying my new home was so easy thanks to David and his team at iQRate. I was a first time homebuyer so the process was very new to me , but everyone at the office communicated so well and answered any questions or concerns I had with ease. I appreciate their patience and will definitely be using them for any future needs!"
— Athena S., Las Vegas, NV (Yelp, 2023). Company-wide review, other market.
The 2026 FHA one-unit limit is $563,500 in Collin County. The conforming limit there is $832,750.
No. If the loan amount you need is above the FHA limit, look at conforming or jumbo financing instead.
FHA ties its down payment tiers to credit score, and many lenders set their own minimum above FHA's. Because we are a broker, we can compare lenders with different rules.
Under FHA rules, the whole down payment can come as a gift from family and some other sources. Your lender will document the gift.
Yes. FHA lets sellers contribute toward closing costs and prepaids, up to a HUD cap.
No. FHA is for primary residences only.
The 2025 combined rate with Plano ISD was about $2.21 per $100 of value before exemptions. Texas bills property taxes each October and collects them in arrears. Lenders usually collect a few months of taxes into escrow at closing, and the seller's prorated tax credit offsets part of that.
Yes. West Plano parcels in Frisco ISD or Lewisville ISD have different rates from parcels in Plano ISD. We check the appraisal district record, not the mailing address.
Yes, if you qualify with both payments, or with a bridge loan or a buy-before-you-sell program.
Under FHA guidelines, unpaid medical collection balances are left out of the debt-ratio calculation. A new collection opened during escrow can still stop an approval.
No. Closing costs depend on the price, loan type and county, so every line appears on your Loan Estimate.
Apply online or call (702) 766-3744.
iQRATE Mortgages · Company NMLS 1862492 · David Ghazaryan, Mortgage Broker, NMLS 1486726 · Licensed in Nevada, California, Texas and Florida. Verify us on NMLS Consumer Access. Call (702) 766-3744. Equal Housing Opportunity.
iQRATE Mortgages is a mortgage broker, not a lender. This page is general information, not a commitment to lend, and not legal or tax advice. Programs, limits and terms change and are subject to credit, property and underwriting approval. Local facts on this page come from public sources and iQRATE's own Plano page.
