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 3.5% down payment.

Following is the basic FHA loan qualification guidelines.

• Steady employment, verified with W2.
• Last two years income should be the same.
• 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 no credit score at all.
• Bankruptcy's must be at least two years old, with perfect credit (no late payments) since discharge.
• Foreclosure's must be at least three years old, with perfect credit since.

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.

If you are unsure about your credit report, our system has been perfected to help you check your true mortgage credit report and take steps to improve your score before submitting your loan. Our Buyer Ready Program is tailor-made for this purpose.

Get prequalified for a FHA loan! Call today and get started while rates are still low! Get started today! -->