FHA Loan Requirements
Whether you're a first time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.
- The Facts About FHA Credit Requirements and FICO® Scores
- Do FHA Loan Requirements Apply to All Borrowers?
- Your FHA Loan Credit Qualifications
FHA Limits for 2019
FHA loan limits were established to define how much you can borrow for a HUD-backed mortgage. Each state has different limits, so be sure to look up your state to understand what is available for your FHA home loan.
Down Payment Grants for FHA Loans
Paying the upfront costs of buying a new home can be challenging. To help overcome this hurdle, many local and state agencies offer down payment assistance in the form of grants or second mortgages.
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FHA Loan Articles and Mortgage News
July 18, 2019 - The home inspection on the property you buy with your FHA mortgage is something you the borrower must arrange and pay for. It covers the roof, the basement, crawl space, the mechanical systems of the home, foundation, and much more.
July 17, 2019 - Borrowers looking into their FHA refinance loan options aren’t always sure where to begin; the right kind of refinance loan for you may not be the right refinance for someone else. It all depends on why you want to refinance and how you need to apply the loan funds.
July 16, 2019 - The One-Time Close construction loan, an option for FHA loan applicants, VA loan applicants, and USDA borrowers, offers the ability to have a home built from the ground up. Is this the right choice for you? Some borrowers have a sense of urgency about getting moved into a new home.
July 15, 2019 - The short answer is that most of them do. There is only one FHA refinance loan that has no FHA-required credit check, and most typical FHA forward mortgages for purchasing a new property will require one. Credit scores and credit history are important factors for home loan approval.
July 14, 2019 - Long before you apply for an FHA mortgage or refinance loan, you will need to work on establishing or maintaining reliable credit patterns. Your lender is looking for these patterns to justify approving your mortgage loan application.
July 13, 2019 - Are you thinking about a refinance loan for your home? When interest rate news points to a general downward trend in mortgage loan interest rates, many are tempted to get a better deal on their loan by refinancing into a lower rate.
July 12, 2019 - You'll get advice about making 100% on-time payments for all financial obligations 12 months or more before you apply for the mortgage. But after you get the loan, if you miss payments on your mortgage, what kind of repercussions can you expect and what should you do?
July 11, 2019 - There are several things you need to know about the house you are thinking of buying with an FHA mortgage. Don’t hesitate to ask the seller how old the property is, how long since the roof was repaired or replaced, or if there are problems with mold, flooding, or noise in the area.
July 10, 2019 - There are many borrowers who worry that they won’t qualify for a home loan because of past credit mistakes, low FICO scores, and other problems. What do you need to know about fixing your credit ahead of an FHA home loan or any other major credit application?
July 9, 2019 - Interest rates in recent months have moved to lows that have prompted many to consider refinancing their real estate and taking advantage of the lower rates while they last. But what should home buyers know about the nature of mortgage rates in general?
SEE YOUR CREDIT SCORES From All 3 Bureaus
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Learn what your score means.
Homebuyer Terminology
If you’re getting ready to shop around for mortgage options, it’s a good idea to brush up on some of the technical terms in our Mortgage Glossary. You’re going to be hearing a lot of them!
