Quantcast

While prequalifying for an FHA loan doesn't necessarily guarantee that you will be able to purchase the home of your dreams, it does help you and potential lenders know your borrowing power and what you can afford.

FHA Mortgage Loan Rates

January 21, 2019
FHA Rates for January 21, 2019
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify for an FHA Loan

Getting Started Before You Find a Home

FHA home loans were designed to help Americans fulfill their dream of homeownership and are therefore the easiest type of real estate mortgage loan to for which you can qualify. Among the home loan options available that require a minimal down payment, FHA loans are the most popular. In fact, the FHA loan is the most flexible type of home mortgage loan available.

THE ESSENTIALS

  • Steady employment history, at least two years with the same employer.
  • Consistent or increasing income over the past two years.
  • Credit report should be in good standing with less than two thirty day late payments in the past two years.
  • Any bankruptcy on record must be at least two years old with good credit for the two consecutive years.
  • Any foreclosure must be at least three years old with good credit for the past three years.
  • Mortgage payment qualified for must be approximately 30 percent of your total monthly gross income.
  • If you can answer YES to these statements you should have no problem qualifying for an FHA home mortgage loan.

While prequalifying for a loan doesn't necessarily guarantee that you will be able to purchase the home of your dreams, it does help you and potential lenders know your borrowing power and what you can afford in terms of a monthly mortgage payment. Prequalifying for a loan simply means that you have taken an inventory of your income and assets and submitted them to your potential lender. Based on that information you should be able to qualify for a home mortgage loan.

FREE 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

FHA Adjustable Rate Mortgages for 2019

January 14, 2019 - The interest rate on an FHA ARM loan is required to remain constant for an initial period of 1, 3, 5, 7, or 10 years, depending on the ARM program chosen by the borrower. It may then change annually for the remainder of the mortgage term.

FHA One-Time Close Construction Loan Rules for 2019

January 11, 2019 - FHA One-Time Close construction loans are available in 2019 at higher FHA loan limits than in 2018. This is good news for anyone who wants a low-down payment construction loan that features only ONE application and closing date.

FHA Loans, Air-B-n-B, and Rental Units

January 8, 2019 - The sharing economy has made entrepreneurs out of many who never thought of earning income by being an Uber driver or acting as an Airbnb host. Some are tempted to buy a multi-unit home and begin offering it for rent to Airbnb users. Is this possible with an FHA mortgage?

FHA Streamline Refinance Rules to Remember

December 29, 2018 - Are you buying a home with an FHA mortgage loan? Have you already done so? If so, you should know about your refinance loan options with the FHA loan program including refinancing with an appraisal waiver, and no FHA required income check or credit check.

FHA Loans for Multi-Unit Properties

December 24, 2018 - Those who buy multi-unit properties are required to live in the home as their primary residence just like FHA mortgages for single-unit homes, but the borrower who purchases a property with up to four units may rent out the unused living spaces.

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!