FHA loans are available to any home buyer who intends to occupy the property but are used most often by first-time homebuyers and low- to moderate-income buyers. However, there are no income limit qualifications. Even a millionaire can take out an FHA loan, subject to loan amount caps based on locale.
Though both Sherman County and Sherman, Texas, are named for the same person, the city of Sherman is located in Grayson County, approximately 430 miles to the southeast.
The community was designated as the county seat by the act of the Texas legislature which created Grayson County on March 17, 1846. In 1847, a post office began operation. Sherman was originally located at the center of the county, but in 1848 it was moved about three miles (5 km) east to its current location. By 1850, Sherman had become an incorporated town under Texas law. It had also become a stop on the Butterfield Overland Mail route through Texas.