Home Loans In Penwell, Texas

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Penwell, Texas. Penwell is an unincorporated community in Ector County, Texas, United States. It is located near Interstate 20, approximately sixteen miles southwest of Odessa.[1] The community is part of the Odessa Metropolitan Statistical Area. Penwell, TX is home to West Texas’ only 1/4 mile drag strip.

When you are looking to buy a new home or want to get your current home refinanced from another lender, securing the best home loan interest rates is a must. MyRatePlan helps buyers find the best home loan rates in Penwell, TX. The process of finding mortgage rates through MyRatePlan is straightforward.

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Limits for FHA Loans in Penwell, Texas range from $314,827 for 1 living-unit homes to $605,525 for 4 living-units. Conventional Loan Limits in Penwell are $484,350 for 1 living-unit homes to $931,600 for 4 living-units.

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FHA’s 2019 minimum national loan limit, or floor, of $314,827 is set at 65% of the national conforming loan limit of $484,350. This floor applies to those areas where 115% of the median home price is.

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