How Do I Pre-qualify for an FHA Loan?
FHA Common Question #8
There are many factors you will need to pre-qualify for an FHA loan. You should be able to demonstrate employability, job stability and reliability. This reliability includes holding a steady job for at least two years with the same company or employer and increasing or at least consistent income.
Any foreclosures on your record should be at least three years old. The same applies for bankruptcy. The FHA loan bottom line-make sure you can demonstrate that you have been a good risk for two years or more and you will have a much better chance at pre-qualifying for an FHA loan.
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FHA Loan Articles and Mortgage News
December 5, 2018 - When you purchase a home with an FHA mortgage, are you already contemplating when you might sell or refinance? It may sound premature to some, but for those who prefer long-term financial planning a strategy for home ownership makes sense.
December 4, 2018 - No matter if the loan you’re interested in is an FHA One-Time Close construction loan, an FHA purchase loan for existing construction, or even a USDA home loan, you will encounter the phrase conforming loan in your home buying journey.
December 2, 2018 - The average civilian with no time in uniform cannot be approved for a VA home loan because this mortgage is a benefit offered in exchange for military service. FHA mortgages, on the other hand, are open to all financially qualified borrowers.
December 1, 2018 - FHA mortgage loans require the home to meet minimum standards in order for the loan to be approved by your participating lender. There are some issues that leave the lender no choice but to deny the mortgage. Do you know what those are?
November 29, 2018 - A study by the National Association of Realtors reveals that a large number of house hunters in the Millennial age range purchased a previously owned home that requires some kind of repair work. If it’s safe to assume that Millennials love fixer-upper homes.
FHA.com Reviews
FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!
