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FHA.com has a section all about loan requirements (http://www.fha.com/fha_loan_requirements.cfm). The basic loan requirements are: Two years of employment, two years of income that is the same or increasing, good credit score, any bankruptcies must be at least 2 years old, any foreclosures must be at least 2 years old and the mortgage payment should be roughly 30% of your income.
What else can I help you with?
Are there a big number of fha loan requirements?
There are not a whole lot of requirements for fha loan requirements. They do require a pretty good credit score and on time payment history. You can find specific requirements for the loan you need.
What are the requirements to qualify for an FHA home loan?
"Requirements for an FHA home loan vary depending on what kind of loan you are applying for. If you are applying for a re-structuring loan, you need to own a home. If you are applying for a first mortgage, you need good credit, a deposit and a social security number."
Where can I find information about FHA loan requirements?
If you need to get information about FHA loan requirements, i think you can look in this website www.fha.com/fha_loan_requirements.cfm, www.fha.com/faq.cfm or http://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-1.aspx
What are the requirements for an FHA refinance loan?
An FHA refinance loan is a service offered to individuals with mortgages. It is capable of reducing one's interest rate. To be considered for this program, one's mortgage must already be FHA insured and no cash may be taken out of the mortgage.
Where would I get information on the requirements to apply for fha loans?
You can get all the information you will ever need on the internet. Just go to FHA and search for the Federal Housing Administration/U.S. Department of Housing and Urban Development. Look for FHA loan requirements.
What is the difference between a fha loan and a conventional loan?
An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.
How do I find out if I'm eligible for a FHA loan?
The requirements for an FHA loan can be found here: http://fha.mortgageloanplace.com/fha_who_qualifies.html. Simply fill out a short form and you will be told if you meet the requirements.
Where can one find information on FHA home loan refinance?
You can find information on a FHA home loan refinance online at the FHA website. Once on the site, you can view the requirements and limits of FHA home loans.
What are the FHA Loan Requirements?
If you have been looking into various loan options so that you can purchase a home, you have probably come across a bit of information about FHA loans. FHA loans are great options for a lot of different types of home buyers, such as those who are buying a home for the first time or individuals who have less-than-perfect credit. However, there are a few FHA loan requirements that you will need to qualify for in order to get a loan for a home. If you fit these FHA loan requirements, you should consider talking to someone to find out more about how to get an FHA loan so that you can purchase the perfect home for yourself and your entire family. In fact, you might be surprised by the beautiful home that you will be able to purchase if you meet the FHA loan requirements, and many people are pleased with the interest rates and loan amounts that they are offered with these loans.Debt to Income RatioIn order to get an FHA loan -- or nearly any housing-related loan -- you need to have a reasonable debt to income ratio. This means that you shouldn't be paying too much of your income out every month. Lenders like to know that you make enough money to easily pay your mortgage payment before they are willing to give you a loan for a home; not only does this help ensure that they get their money, but it can help keep you out of trouble too.Reasonable Credit ScoreOne of the good thing about the FHA loan requirements is that you aren't required to have stellar credit. In order to qualify for a low down payment, however, you will need to have a decent credit score; this doesn't mean that you have to have good credit, but you will need to be within the lower average range. If you do have bad credit, you shouldn't give up; FHA loan requirements are pretty lenient on individuals with bad credit, but you will have to put more down on your home in order to qualify.IncomeAs with any loan, FHA loan requirements will require you to have a job, and the amount of your loan will vary based on your monthly income.
What are the requirements for an fha refinance?
An FHA loan is a loan for first time home buyers. HUD has a website where you can talk to FHA housing counselors who will be qualified to answer all your questions regarding an FHA loan (http://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor.
What are FHA mortgage requirements?
There are many ways to explore an FHA loan and find out the FHA mortgage requirements. Usually the easiest solution is to talk to your local banker. It is also possible to obtain this information via the FHA.gov website.
Do the fha lanrequirements change evey year?
The way that fha loan requirements are set up is based on commerce. If the market fluctuates, then the requirements will vary slightly from year to year.
