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
Do you know what's on your credit report?
Learn what your score means.
FHA Loan Articles and Mortgage News
July 14, 2020 - The FHA One-Time Close construction loan, like its VA construction loan counterpart, is a loan backed by the government that allows the borrower to apply for a single mortgage loan to cover both the costs of construction of a home from the ground up and the purchase of the home.
July 13, 2020 - An announcement on the HUD official site reveals the U.S. Department of Housing and Urban Development awarded $40.8 million to support dozens of fair housing organizations working to help end housing discrimination.
July 11, 2020 - If you are in the planning stages of your home loan, you’ll definitely want to pull your credit report and review the contents. If you have never seen your credit report before, you are not ready to fill out a home loan application.
July 9, 2020 - The low down payment requirements for FHA home loans make FHA purchase loans, FHA construction mortgages, and FHA rehabilitation mortgages very tempting for first-time home buyers.
July 7, 2020 - Do you know what your credit report says about you at this moment? If not, you aren’t truly prepared for your home loan application. Those who have not pulled their credit reports should not fill out loan paperwork.
July 6, 2020 - How much do you know about home loan limits and how they work? If you are shopping for a home to buy, an FHA mortgage can help with its lower down payment requirements and more forgiving FICO score requirements.
July 4, 2020 - In the earliest part of 2020, mortgage loan interest rates experienced a great deal of volatility. Unprecedented low mortgage rates have grabbed headlines and have sparked a flood of refinance loan applications and many renters are seriously considering becoming homeowners.
July 3, 2020 - Ever since Coronavirus lockdown measures were imposed across the nation, lenders and borrowers have had to adjust to a new environment where social distancing forces innovation in common practices such as the home loan appraisal process.
July 1, 2020 - The Federal Housing Administration sets FHA loan limits on an annual basis. FHA home loans have a maximum loan amount that is established in accordance with the National Housing Act. FHA and HUD adjust the limits at the end of the closing year and before the new year.
June 30, 2020 - If you have experienced housing discrimination at any stage in the housing process including renting, home loans, refinance loans, home buying, etc. don’t hesitate to file a complaint of discrimination with the HUD Office of Fair Housing and Equal Opportunity.
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!
