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
July 8, 2022 - A seller inspection is something you may encounter when you’re ready to make an offer on a home. The seller may elect to have the property inspected to anticipate any hidden issues and you should be given access to the results of that inspection when it is time to make an offer.
July 7, 2022 - One of the first things a new borrower learns is that the planning stage of a home loan is a very important part of the journey. Sorting out a home loan needs includes deciding about the type of home you might want, price ranges, and how large a down payment you want to make.
July 6, 2022 - FHA / VA One-Time Close construction loans are popular for those looking to build a new home in Texas. Zillow® reports the TX medium home values near $313,000 for the year-to-year period ending in June of 2022, which is an increase of 24.21%.
July 5, 2022 - If you don’t know the difference between a One-Time Close construction loan and construction loans that require two loans and two closing dates, you aren’t alone. The good news is, the major differences between these two options are very easy to understand.
July 4, 2022 - Consider working on your FICO scores by establishing a 12-month-or-better record of on-time, every-time payments. The results can include an overall improvement in your FICO scores depending on how long you spend working on your payments.
July 3, 2022 - If you are new to the house-hunting process, you might wonder about real estate terms related to the process. Are you home shopping in a buyer’s market or a seller’s market? If you aren’t clear on what those terms mean, it’s good to know them ahead of your search for a home.
July 2, 2022 - What can affect the interest rate you are offered on an FHA mortgage? Some people think the Fed sets mortgage loan interest rates, but their work only indirectly affects them. Instead, investor reactions to the Fed’s announcements are what sends rates up or down.
July 1, 2022 - Why choose an FHA adjustable rate mortgage, also known as an FHA ARM? Why refinance into one? When interest rates are rising some consider the ARM loan as part of a larger strategy to save money on the loan, long-term.
June 30, 2022 - Are you a first-time homebuyer? It’s not unusual to feel a bit intimidated about making choices about the size and features of the home you want to buy. But a little planning can make your entire process feel easier to manage. Use a checklist to review features and priorities.
June 29, 2022 - Consider using an FHA or VA backed One-Time close construction loan in Washington State. Zillow® reports the WA medium home value at the end of Q2, 2022 to be $354,000. WA home values have gone up 20% over the past year.
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!
