FHA Loan Requirement
Texas FHA Loan Limits
Texas FHA Home Loan limits vary by county. See What You Can Borrow with an FHA Home Loan in Your County.
Debt Income Ratios for FHA Loans
Debt to Income Ratios for FHA Loans Qualifications for an FHA loan also take into consideration the borrower and co-borrowers debt-to-income (DTI) ratio. There are specific requirements with regards to debt-to-income ratios to help protect the buyer from being approved for a loan they cannot truly afford. If you recall the…
Income Qualifications
Income Qualifications FHA Income Qualifications & Requirements To be eligible for an FHA-insured mortgage, FHA does not require a minimum length of time that a borrower must have held a position of employment. However, the borrower’s employment for the recent two (2) full years must be verified. The borrowers…
Credit Scores and FHA Loans
Credit Scores and FHA Loans Although the Federal Housing Administration (FHA) only requires a 580 FICO score to qualify for the 3.5% minimum down payment requirement, borrowers are hard-pressed to find a direct lender or an approved FHA Lender to extend a mortgage loan with such a low FICO score. Most…
Closing Cost
The Federal Housing Administration strictly defines and restricts the closing costs associated with an FHA loan that the borrower must pay. While specific costs and amounts vary slightly and are determined by local FHA offices, this list can help borrowers to anticipate the costs associated with their FHA Home Loan.…
Documents Needed
Documents Needed Every loan requires a standard set of documentation. Although each loan is not created equal, they all need basic documents. Here’s the list of basic documents needed.