FHA Home Loan Guidelines

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 you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Financial help for seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products - one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

Ask an FHA lender to tell you more about FHA loan products.
Find an FHA lender

Need advice? Contact a HUD-approved housing counselor or call
(800) 569-4287

Need help with your downpayment? State and local governments offer programs that can help. Find a program near you.

Does anyone know about FHA guidelines ?

2008-03-01 16:53:06 by brownpaperbag

I'm qualified for a FHA loan and i found a house on 28 acres thathas income potential through 2 apartments on the property.
my broker told me when i went through the preapproval process that FHA may not loan $ for properties with lts of land, even if there is a home on the property where we will live.
does anyone know about this? the only mortgage i will be able to get is a FHA mortgage and this property is definitely within my price range but i don't know if i'll be able to do it through FHA.
does anyone know?

Why can't you qualify for a home loan?

2012-09-21 12:21:02 by jousty

Yes, if you have a dispute, then you can't get funded:
Fannie Mae and Freddie Mac have adjusted their qualifying guidelines requiring any credit account that reports as ‘in dispute’ on a borrower’s credit report, must be removed or updated to report as ‘resolved’ before allowing your loan to receive final approval and fund. This affects all loans, including FHA/HUD, VA, USDA and Conventional loans programs.

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