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 2020
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.
SEE YOUR CREDIT SCORES From All 3 Bureaus
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FHA Loan Articles and Mortgage News
February 25, 2020 - World news does not directly affect mortgage loan interest rates, but investor reaction to that news can. Investors have responded negatively to coronavirus news, putting money in safe-haven investments instead of riskier moves.
February 22, 2020 - There are agencies across the country operating on a local level to offer down payment help to qualified borrowers, many of whom are first-time home buyers. And many of these grant programs have no repayment requirements when terms and conditions are met.
February 20, 2020 - Did you know that mobile homes and other types of manufactured housing makes up roughly 10 percent of all single-family homes? Some sources estimate 22 million or more Americans live in a manufactured home.
February 18, 2020 - Some new to the real estate market might assume they are not qualified to be approved for a construction loan, but these loans have the same kinds of terms and conditions that other mortgages do and you don’t need to have special credit scores to qualify.
February 17, 2020 - Refinancing your home loan makes sense when rates are falling and property values are rising. In 2020 we’ve already hit three-year interest rate lows due to a variety of factors including hangovers from trade war woes with China, the coronavirus, and other variables.
February 14, 2020 - Knowing the right home loan for you sounds easy, doesn’t it? In the minds of some, it’s a question of whether you want a condo, a house in the burbs, a multi-unit home, or even a mixed-use property.
February 12, 2020 - The Department of Housing and Urban Development (HUD) has issued a press release announcing updated guidance regarding the use of service animals and emotional support animals in the context of the Fair Housing Act.
February 9, 2020 - Veterans have multiple options when it comes to deciding which type of One-Time Close construction loan to choose from. Military members who cannot occupy the home due to active duty requirements are still eligible for maximum financing.
February 7, 2020 - FHA home loan rules for second homes and investment properties are fairly straightforward; it’s the exceptions that can be confusing. Basically, if you want an FHA mortgage, you must be prepared to occupy the property you buy with one.
February 5, 2020 - One big issue that can delay your closing date is incomplete paperwork. Whether you are submitting or closing the loan electronically or not, you will need to make sure all paperwork is properly filled out and complete.
SEE YOUR CREDIT SCORES From All 3 Bureaus
Do you know what's on your credit report?
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!
