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FHA Loan Qualification

FHA home loans are easy to qualify for because bad credit is allowed and you virtually no equity is required to refinance.

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Graduated Payment Mortgage

FHA home loans introduced the graduated payment mortgage loans to first time homebuyers with affordable home financing. FHA introduced the graduated payment mortgage loans (also called section 245 loans) for homebuyers who currently have low to moderate incomes but anticipate them to rise significantly over the next five to ten years. HUD manages insurance programs for home loans that assist lower-income families with the costly challenges that often prevent consumers from becoming homeowners.

With this FHA loan program, prospective borrowers who have income limitations may still be able to finance a house and make reduced mortgage payments for the initial introductory period as specified by HUD. Under this program, the mortgage payment increases as the borrower's income rises. Those who are considering using a Graduated Payment Mortgage to purchase a home should keep in mind that while their monthly payments to principal and interest will start small, they will increase substantially each year for up to ten years depending upon the payment plan selected. Millions of first time homebuyers got started with a FHA home loan. These government home loans promote fair lending with flexible credit guidelines. The graduated payment mortgages originated with the Housing and Community Development Act of 1974.


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If you are considering financing a new home homeowners and your loan officer is suggesting a graduated-payment loan to buy a house don’t forget that your mortgage payments monthly with principal and interest will increase each year for the next five to ten years, depending which term you select in the process.

FHA home mortgages were created to help you finance a home purchase at an affordable price; you should not pay above and beyond the normal fees associated with buying a home. With FHA loans, some payments, closing costs and other fees are not legal. If you are seeking an FHA loan, do not pay any 'unearned fees'. FHA loan guidelines as well as federal, state and local laws provide regulation against high cost loans.

FHA Home Loan Limits
All Loans subject to FHA loan limits by state and county (see www.hud.gov ). Check these popular listings for new mortgage limits queried specifically by state. The loan limits were recently increased by HUD. Since home loan limits can vary from state to state, please contact your assigned loan officer to verify applicable loan increases.
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FHA has recently mailed thousands of letters to homeowners with the goal of educating consumers on foreclosure and loan default measures that are available. The mailing urged homeowners to consider a safer, more affordable alternative to the high-cost mortgages they are currently paying. These letters were mailed to homeowners who have already faced or are experiencing the 1st reset of their adjustable rate mortgage loan. The mail piece reminds homeowners that through the end of the year, FHA can insure home loans valued between $271,050 and $729,750.

Find Affordable Lower Mortgage Payments

The interest rates for FHA refinance and home purchase loans remain competitive and comparable to conventional Fannie Mae mortgage rates.

Rate & Term Refinance with FHA Mortgage
Chapter 13 Bankruptcy Refinance Loans
FHA Mortgage after 7 or 11 Bankruptcy Discharge
How FHA Sets Loan Limits


Because of dropping property values and high adjustable rates, many consumers are inquiring about the FHA Secure that helps homeowners avoid a foreclosure.

FHA Loan Blog - Read, Comment and Post Questions about Home Buying and Loan Refinancing.


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FHA Loan Limits 2010 | California FHA Loan Limits | FHA Refinance Rate | FHA Refinancing with Bad Credit Scores | Choosing the Best FHA Refinance Loans | FHA Mortgages | Closing Costs on FHA Mortgage Loans | FHA Refinance Requirements 2014 | FHA Loan Requirements in 2014