FHA Loan

  • Two Years of steady emplyment, preferably with same emplyer
  • Last two years income should be the same or increasing
  • Credit report should have less than 2 thirty day lates in last two years with a minimum credit score of 580 or higher.
  • Bankruptcy's must be at least two years old.
  • Foreclosure's must be at least three years old, with no 30 day lates credit score.
  • Your new mortgage payment should be approximately 30% of your gross (before taxes) income.

FHA mortgage loans are issued by federally qualified lenders certified by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA loans are an attractive option, especially for first-time homeowners:

  • Generally easier to qualify for than conventional loans.
  • Lower down payment requirements.
  • Cannot exceed statutory loan limits.
  • Only 3.5% Down

Basic Requirements

This material is not from HUD or FHA and has not been approved by HUD or a government