FHA Checklist

FHA loans are the easiest type of real estate mortgage loan to qualify for, and we are here to make the process as quick and easy as possible! The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment. Our loan officers have experienced with government home loan programs like FHA, so you are in good hands.  It is in your best interest to have met the FHA requirements outlined on the FHA checklist listed below.

The following below are the basic FHA loan qualification guidelines.

· You should have two years of steady employment, preferably with same employer.

· Your last two years' income should be the same or increasing.

· Your credit report should typically have less than two thirty-day delinquencies in last two years.

· Any bankruptcies must be at least two years old, with good credit since.

· Any foreclosures must be at least three years old, with good credit since.

· Your new mortgage payment should be approximately 30% of your gross income.

· You cannot have defaulted on any previous federal government or student loans.

These are some of the most basic of FHA guidelines for qualifying for a FHA loan. If you have answered yes to most of these statements, we can help assist you towards home ownership today! The FHA loan programs are flexible with equity, down-payments and credit scores so there are a lot of reasons to get exciting about financing with FHA.