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 2021
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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Learn what your score means.
FHA Loan Articles and Mortgage News
June 2, 2021 - Many first-time home buyers feel at a loss when it comes to working on their credit. Don’t apply for your first credit card and your first home loan in the same year. A lender will be looking at your credit habits for at least the 12 months leading up to your credit application.
June 1, 2021 - FHA loans generally require an Up-Front Mortgage Insurance Premium or UFMIP, and then monthly mortgage insurance premiums are paid for either 11 years or the lifetime of the loan depending on several factors. This applies to loans where down payments are less thatn 20%.
May 30, 2021 - There are common questions about fixing your credit, and there are just as many questions in this area as there are in the area of home loan down payments. And sometimes those issues are actually interconnected. Do you know how?
May 28, 2021 - There is a huge myth about certain types of home loan (FHA mortgages specifically) that prevents some people from considering FHA loans as an option--we’ll explore that myth below and why you should take note even if you have purchased a home before and want to do so again.
May 26, 2021 - What kind of preparations do you need to make before you apply for a home loan? Buying a home is one of the most important investments an American borrower can make and you’ll have an easier time in the process if you can get and stay organized.
May 25, 2021 - FHA / VA / USDA One-Time Close construction loans are an important option to consider for those looking to build a new home in Georgia. Georgia home values have gone up 10.6% over the past year and Zillow predicts they will continue to rise within the next year.
May 24, 2021 - Are you a first-time home buyer? Are you a home buyer who hasn’t tried to purchase a home in several years? There are some important tools you should know about when beginning the search for a new home and a home loan.
May 23, 2021 - FHA home loans are government-backed mortgages, which means a lower risk for the lender because the government guarantees part of the loan. One of the most attractive things about FHA home loans for some is the low 3.5% down payment requirement.
May 22, 2021 - What does it take to get approved for a One-Time Close construction loan? Many borrowers are tempted to build a dream home instead of buying an existing house. If you want to build a house on your own land the One-Time Close mortgage is for you.
May 21, 2021 - Getting prequalified for a home loan means you have filled out some basic paperwork with a lender while in the house hunting process. Getting pre-qualified lets sellers know you are not window shopping, but serious about finding the right property.
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!
