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FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) - which is part of HUD - insures the loan, so your lender can offer you a better deal. Low down payments; Low closing costs; Easy credit qualifying; What does FHA have for you? Buying your first home? FHA might be just what ...
Here is some of the documentation you will need when applying for an FHA home loan: Valid government-issued ID, such as a driver's license or passport. Proof of a Social Security number.
FHA loans are designed to make the path to homeownership easier. Thanks to an FHA loan’s low minimum credit score requirement, lenient down payment requirement and numerous loan programs, prospective homeowners should find it easier to get an FHA loan than a conventional loan.
Key takeaways. An FHA loan is a type of mortgage geared toward borrowers with lower credit scores or who otherwise don't qualify for a conventional loan. You can use an FHA loan to buy,...
FHA loans are ideal for first time home buyers with 3.5% down. Check out FHA requirements, rates, loan size limits, premiums, closing costs and FHA pros and cons. Reviewed by FHA loan officers.
FHA loan requirements: Who qualifies? FHA loan requirements are generally easier to meet than other loan programs, which is why FHA loans are popular among first-time homebuyers. Here’s an overview of the FHA’s minimum mortgage requirements: Credit score: 500 (10% down payment), 580 (3.5% down payment)
FHA Loan Requirements. To be approved for a mortgage, you’ll need to meet FHA loan requirements for the following: Credit score; Down payment; Loan size; Debt-to-income (DTI)...