already pay more for home insurance<\/a> than people in similar homes with good credit.\u00a0<\/p>\nArticle continues below this ad<\/p>\n
A report last year from the Consumer Federation of America and the Climate and Community Institute found that Texans with low credit are paying almost $3,000 more for home insurance on average each year than those with high scores.\u00a0<\/p>\n
The report found that a homeowner with good credit living in a high-disaster risk area will pay less than a homeowner with poor credit living in a low-risk area.\u00a0<\/p>\n
To qualify for a FHA loan, a borrower only needs a 500 FICO score.\u00a0<\/p>\n
Judson Robinson, the president and CEO of the Houston Area Urban League, said many first-time homebuyers don\u2019t fully understand that even with a fixed-rate mortgage, their monthly payment could change.\u00a0<\/p>\n
\u201cThey just know that when they finally were able to get their home acquired, that it was the note plus your insurance and your taxes \u2026. [but] knowing that a couple of these things are adjustable based upon economic conditions is foreign to a lot of folks.\u201d\u00a0<\/p>\n
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Robinson said the nonprofit has seen a 20% increase in calls over the last year of people in some kind of housing distress.\u00a0<\/p>\n
High delinquency rates haven\u2019t yet translated into a spike in foreclosures, Norman said, although filings are up in almost every state, including Texas.<\/p>\n
The FHA data isn\u2019t broken down geographically within the state.\u00a0<\/p>\n
Dee said she was most concerned about recent homebuyers \u2014 those who closed in 2022 and 2023 \u2014 who haven\u2019t earned enough equity to sell, particularly as values have stabilized or in some cases decreased since the peak of the pandemic.\u00a0<\/p>\n
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\u201cThe newer people don’t have the same out for a graceful exit that people with equity would have,\u201d she said.\u00a0<\/p>\n
Late payments on conventional mortgages have remained flat, with less than 1% of borrowers in serious delinquency.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"A home is shown for sale in The Heights in Houston, Monday, Oct. 27, 2025. Brett Coomer\/Houston Chronicle…\n","protected":false},"author":2,"featured_media":375294,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[933,56,58,57],"class_list":["post-375293","post","type-post","status-publish","format-standard","has-post-thumbnail","category-houston","tag-austinlatest","tag-houston","tag-houston-headlines","tag-houston-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/375293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=375293"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/375293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/375294"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=375293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=375293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=375293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}