FHA Loan Qualifying Summary


 FHA loans are the easiest type of real estate mortgage loan to qualify for. The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment.

Following is the basic FHA loan qualification guidelines.

  • Two Years of steady employment, preferably with same employer.
  • Last two years Income should be the same or increasing.
  • Credit report should typically have less than two thirty day lates in last two years with a minimum credit score of 620 or higher or in some cases no credit score at all.
  • Bankruptcy's must be at least two years old, with perfect credit since discharge.
  • Foreclosure's must be at least three years old, with perfect credit since.
  • Your new mortgage payment should be approximately 30% of your gross (before taxes)  income.
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, you probably qualify for a FHA mortgage loan.

Get prequalified for a FHA loan >> Here - or-  Apply now for a FHA loan >> Here.

If you are unsure about your credit report, you can get a free credit report and view it online instantly.

Following are some hyperlinks to some more detailed descriptions of qualifying for a FHA loan. Please click on the item that you require additional information on.

  • Income -  Income qualification guidelines for FHA loans.
  • Credit - Credit qualification guidelines for FHA loans.
  • Savings- Savings requirements and guidelines for FHA loans.
  • Ratio's - Income to Debt ratio's guidelines for FHA loans.
  • Submission - Explanation of what "Submitting a FHA Loan is".
  • Recording - Explanation of "Loan Recording".