FHA Loan Requirements

September 10, 2022 - Are you in danger of missing payments? Are you in danger of missing payments on your current rent or mortgage? Those missed payments in particular can be especially dangerous if you need to apply for a new FHA home loan.

September 9, 2022 - If you want to apply for an FHA mortgage, knowing a few facts about how home loan interest rates work can really help you during the planning stages. Here’s what you need to know about home loan interest rates--especially if you want to build a home.

September 8, 2022 - Some borrowers want to know if a house must have central heating and air conditioning (HVAC) in order to be FHA approved? Will a home survive an FHA appraisal without an HVAC system? FHA loan rules for appraisals do address this issue and the answers to this question are found in HUD 4000.1.

September 7, 2022 - Some borrowers come to the FHA loan process with a long credit history, while other borrowers are just getting started. Is it possible for a borrower be turned down for an FHA loan because of a lack of credit history?

September 6, 2022 - When you apply for an FHA mortgage loan, your lender is required to make sure you can afford the loan and your current amount of monthly debt. The loan officer will be required to calculate the amount of your financial obligations and compare it to your current income to determine approval eligibility.

September 5, 2022 - It’s easy to assume that your FICO scores are the key to getting a home loan approved. After all, FHA loan credit qualifications do specify a minimum FICO score for all borrowers. The FICO score minimums for the lowest down payment are set by the FHA and HUD.

September 4, 2022 - When you apply for an FHA home loan, there's a list of documents and documentation needed to process an FHA loan application. These are the minimum needed to establish an accurate picture of a borrower's credit and payment history.

September 3, 2022 - What kinds of houses qualify for an FHA home loan? The answer may surprise you since many people assume the types of homes they can buy are fully finished, typical suburban home. But you can purchase other types of properties, too. Do you know your options with an FHA loan?

September 2, 2022 - If you are selling your home, you and your real estate agent need to know some important points about FHA home loans to help you make the best deal possible. There are some aspects that can help sellers properly price and sell their property to someone using an FHA mortgage.

September 1, 2022 - Borrowers who have high debt ratios and/or FICO score issues may still be able to be approved for an FHA mortgage loan, but the lender may require one or more compensating factors to justify loan approval. FHA loans are designed to be more forgiving of past credit issues.