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.
SEE YOUR CREDIT SCORES From All 3 Bureaus
Do you know what's on your credit report?
Learn what your score means.
FHA Loan Articles and Mortgage News
September 14, 2019 - Some who are interested in getting a loan to buy or improve a home don’t know their FHA home loan options. An FHA mortgage loan requires a low down payment and can generally be more forgiving of past credit mistakes than some conventional mortgages.
September 13, 2019 - There are lots of finance blogs and consumer watchdog websites offering advice to those in the market for a new home loan or home loan refinance options. If you’re reading this you clearly have an interest in FHA home loan options and want to learn more.
September 11, 2019 - What does it take to get FHA home loan approval? Part of the equation is in your credit scores, another part is your employment history, but an equally crucial portion involves the amount of debt you carry versus the amount of income you have.
September 8, 2019 - Do environmental factors matter when it comes to FHA home loan approval? The answer is a definite yes, though those factors may not be exactly what you think of at first. You can work with a realtor to rule out properties that may have an issue that could prevent your home loan approval.
September 5, 2019 - Do you need down payment assistance for your home loan? FHA loan rules permit such help, but the FHA loan program itself does not have a down payment assistance program, even for first-time home buyers.
September 3, 2019 - Is your neighborhood’s property values going up? Or are they moving in the opposite direction? Depending on what kind of refinance loan you need, this can be an important factor in deciding whether to commit to a refinance loan.
September 2, 2019 - Do you need down payment assistance for your home loan? FHA loan rules permit such help, but if you have never applied for an FHA loan before, there are some things you need to know before getting started. FHA itself does not have a down payment assistance program, even for first-time home buyers.
August 31, 2019 - First-time home buyers interested in purchasing a home with an FHA mortgage should seriously consider HUD’s offer to help by referring potential borrowers to HUD-approved housing counseling in the applicant’s local area.
August 29, 2019 - If you have had a promotion with your current employer, or have been hired at a better position and/or for more pay with a new employer in such circumstances, the lender is likely to view such a move favorably unless there are complicating factors that need to be taken into account.
August 27, 2019 - Are you interested in a home loan but have thin credit? A borrower without much credit history can take some advice straight from one of the major credit reporting agencies, Experian, about making your credit history more attractive to a lender.
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!
