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 2022
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
April 25, 2022 - How much do you really know about the home loan appraisal process? Some call it an inspection, and it’s definitely NOT an inspection--rather a check to make sure the property meets minimum standards for safety and habitability. It is also meant to establish the fair market value of the home.
April 24, 2022 - HUD announced funding over $3,000,000 intended to be shared among qualifying organizations that accept funding through the FHIP Private Enforcement Initiative. According to HUD, this funding may be used for Fair Housing Act enforcement, education, and outreach projects.
April 23, 2022 - A few simple things can happen that will hurt your credit scores before you apply for a home loan. These are not the only issues, but what we discuss below are some of the most common problems to anticipate. A late or missed payment can hurt your FICO scores.
April 21, 2022 - If you are looking for a home loan that has no early payoff penalty and more flexible credit requirements, it’s smart to consider an FHA mortgage. These mortgages help you purchase a new home, a fixer-upper, or have a house built from the ground up on your own lot.
April 20, 2022 - FHA refinance loans are designed to do several things, depending on the loan you choose. Do you need an adjustable-rate mortgage into a fixed-rate loan? Do you want to get cash at closing time? There are many uses for an FHA refinance.
April 18, 2022 - Do you want to build a home from the ground up? You can do this with low down payment requirements with an FHA One-Time Close Construction Loan. And construction loan borrowing power has increased in 2022 because FHA loan limits have increased from the previous year.
April 16, 2022 - The Department of Housing and Urban Development has set aside the month of April not only to commemorate the passage of the Fair Housing Act but also to raise awareness about the ongoing need to fight housing discrimination at all stages of the housing process.
April 15, 2022 - At some point, homeowners may be contacted by a third party offering to help refinance their FHA home loans. Home loan refinance scams seem to have grown in volume over the years, thanks in part to the pandemic and thanks in part to wider reporting of those scams when they occur.
April 13, 2022 - Some issues can stop your loan or prevent you from qualifying, and knowing what they are can make all the difference for some. Your lender will have specific expectations in areas such as your credit scores, verifiable income, reliable credit history, and other factors.
April 11, 2022 - Are you ready to start the application process for an FHA home loan? We aren’t talking here about pre-qualifying or pre-approval for a home loan, instead we’re talking about actually starting the home loan approval process.
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!
