
FHA Loan Requirements for 2023
580 Credit Score -and- 3.5% Down Payment
The FHA loan program lets you purchase a home with a low down payment and flexible guidelines. FHA refinance mortgages are a great option for those who want to lower their monthly mortgage payment or consolidate their bills.
See how we make the American dream a reality. Whether you're a first-time homebuyer moving to a new home, or want to refinance your existing conventional loan to an FHA mortgage, there's an FHA program suited to your needs. With no income limits or credit scoring, many people who can afford the monthly mortgage payments and have reasonable credit will qualify for an FHA mortgage.
FHA Loan Articles
July 20, 2022FHA loan rules for single family purchase loans include guidelines for the lender to use if the applicant has rental income. Some want to know whether it is possible to qualify for an FHA mortgage using rental income. The real issue is whether the rental income meets FHA loan rules.
July 9, 2022Planning your FHA loan means asking some important questions early in the process. The most obvious question is associated with the type of home you want. How large a house do you need? FHA mortgages allow the purchase of homes with between one and four living units.
June 30, 2022Before you get ready to commit to a home loan application, it’s good to review your circumstances and ask a few basic questions about your loan, your plans, and the home itself. Believe it or not, knowing what type of home loan you need is an important step.
June 16, 2022It’s a great option to consider if you want to build your dream home on your own land instead of buying someone else’s already-lived-in house. FHA One-Time Close mortgages are also referred to as single-close construction loans--you’ll see these terms used interchangeably.
May 7, 2022The appraisal process is a very important part of buying a home. When you are budgeting and planning for your loan, you may want to set aside some extra funds in case there are corrections required as the result of an appraisal.
