FHA Loan Qualifications

How to Qualify for FHA Home Loans – Helpful Tips for Mortgage Qualification and Credit Requirements

We help borrowers understand the FHA qualifications and requirements. The Federal Housing Administration has kept the FHA qualification process as a priority for the "average American borrower." The underwriting and loan qualification process varies slightly between purchase and home loan refinance programs. Both programs have the same loan to value requirements as home buying requires a 3.5% down-payment or a 96.5% loan to value and FHA refinancing needs 3.5% worth of equity to qualify. Find out if you are eligible for a FHA loan with bad credit. Direct Endorsed Underwriters do consider compensating factors like low debt to income ratios, sufficient equity and long employment histories.

  • First-Time Homebuyers can get low rates with FHA qualification
  • Don't have a lot of money saved to put down on a home
  • Want to keep monthly mortgage payments as low as possible
  • Don't want monthly mortgage payments rising
  • Understanding FHA Home Loans Bad Credit and Subprime Alternatives
  • Get a mortgage qualification even if you have less than perfect credit
  • Qualify for a FHA loan with credit scores as low as 500
  • Find out the requirements on FHA loan for people with a poor credit history
  • Learn more about getting Pre-Qualified for FHA home loans with bad credit scores

More Info on How to Qualify for a FHA Loan Quick FHA Qualification with Pre-Approvals

No Cost and No Obligation to Apply.
FHA Home Loans with Bad Credit Are Possible.

Lower cost: FHA loans have competitive interest rates because the Federal government insures the loans for lenders. Always compare rate and terms with other finance options.

FHA mortgages do not make sense for all borrowers, but millions of first time house buyers have been converted from a renter to a homeowner because the FHA down-payment are minimal and credit guidelines are lenient.

FHA loans offer first time homebuyers and bad credit borrowers another opportunity with easy loan approvals: My Loan Quote.com published an article recently that discussed the pros and cons of 1st time home buying. They mentioned that there are not many lenders that offer first time home buyer loans for bad credit borrowers. FHLR brings many years of experience to the table for new home buyers. We understand the FHA loan qualification process and have the competitive interest rates you need to save money.

Less money down: FHA loans have a low 3.5% down payment and the money can come from a family member, employer or charitable organization as a gift. Other loan programs don't allow this.

Easy qualification: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier to get approved. Our team will help you qualify for a FHA loan that meets your needs.

Bad credit OK: You don't have to have good credit scores credit to qualify for a FHA mortgage loan. In most cases, it is easier for you to qualify for an FHA home loan than a conventional or non-conforming mortgage loan.

Learn What It Takes for Government Financing - How to Qualify for a FHA Home Loan

When buying a home for the first time, or buying a home after selling a home, a FHA loan qualification can be an asset because they have credibility with most realtors and sellers. When purchasing a house after selling a home, can be home mortgages are an attractive option for prospective home buyers. An FHA home mortgage can allow a person to buy a home with a low down payment and reasonable interest rates, as well as obtain a mortgage that is protected by the federal government. Qualifying for an FHA home mortgage means that a person can obtain this home mortgage option and allow themselves all of the benefits that come along with it.

All FHA home mortgages require loan insurance to protect lenders in case the borrower may default on his or her loan. This insurance is primarily required for prospective home buyers who are paying an out of pocket down payment on their home that is less than 20%, which is what many FHA home mortgages offer. Also, the mortgage must be borrowed from an FHA approved lender to ensure that a person will be able to meet the FHA home loan qualification standards. The FHA has many approved lenders in various areas across the country to ensure that prospective home buyers across the United States can acquire an FHA house loan.

FHA home mortgages also have lending limits that will vary from state to state, and a person should always investigate what their FHA lending limit is before deciding to apply for an FHA loan for the house of their choice. Also, debt to income ratios are taken into consideration when applying for an FHA loan, and those with lower debt to income ratios will be more likely to qualify. These ratios are considered to ensure that a person will be able to make the proper payments on their mortgage while still being able to pay for all of the costs incurred when owning a home.

A person's credit history will also be taken into account when trying to qualify for an FHA home mortgage, and those with high credit scores and a history of timely payments are most likely to qualify and be approved. However, FHA home mortgages are not exclusive to those with excellent credit, and these home mortgages are often the most commonly sought by those who may have a lower credit score. Should a person have a blemish on their credit history, depending on the situation, they may have to wait for a certain period of time before being able to qualify.

Talk to HUD approved FHA mortgage lenders who pride themselves in offering the best FHA mortgage rates online. We provide secure fixed rate FHA loans for refinancing ARM's into thirty year mortgages with fixed payments that you can afford paying every month.

Apply for a FHA Loan today!

FHA Mortgage Lenders

FHA Loan Qualification

Most people consider FHA mortgage programs easier to qualify for than Fannie Mae and Freddie Mac house financing. With FHA loan qualifying criteria, in some cases, low credit scores are allowed. And you virtually no equity is required to refinance.

FHA Streamline Refinance Loans 
FHA Refinancing & Debt Consolidation
FHA Down Payment Assistance Loan 
FHA Home Loan Limits
Purchase Mortgage
House Buying with Bad Credit
How to Finance a House with Bad Credit
Buy a Home with No Down Payment
First Time Home Buyer Program
Find FHA Lenders
Find 30-Year Mortgage Fixed

FHA Interest Rates Have Never Been This Low!

The interest rates for FHA refinance and home purchase loans remain competitive and comparable to conventional Fannie Mae mortgage rates. The government rates are great and with FHA home loans bad credit obstacles could be a thing of the past.

Why is FHA so Popular?

Borrowers are given fixed rate grace with exceptions for qualifying made for borrowers who were not late prior to their mortgage adjusting.

FHA Refinance

Borrowers are given fixed rate grace with exceptions for qualifying made for borrowers who were not late prior to their mortgage adjusting.

Chapter 13 Bankruptcy Mortgage Refinance
FHA Mortgage after 7 or 11 Bankruptcy
Choosing FHA Refinance Loans

© 2008 to 2013 - FHLR. Trade/service marks are the property of FHAHomeLoanRefinancing.com, or their respective loan subsidiaries. Some FHA mortgage products may not be available in all states.

This is a website and does not guarantee FHA loan approvals online. FHAHomeloanRefinancing.com does not make FHA home loans online. This site does not pre-qualify or guarantee approvals on FHA mortgages but our services can refer you to approved FHA lenders. FHAHomeloanRefinancing.com has no affiliation with FHA or any other government subsidiary. This is not an advertisement for credit as defined. This is not a commitment to lend. Certain restrictions and requirements may apply. - Site Disclosures Rates are subject to change on home loans with a FHA refinance.

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