FHA Loan Qualifications:
Although the FHA loan qualifications are flexible compared to other loans, certain guidelines must be met. It is also important to note in most cases FHA loans require on time payments (not 30 days delinquent) for the previous 12 months. Refer to the chart below for basic FHA loan qualifications.
FHA Streamline Refinance
FHA Loan | |
Max Loan Amount: | varies by county |
Credit Score: | Not Required |
Down Payment: | 3.5%- 10% by credit score |
Interest Rate: | Current market |
Assumability: | Yes |
Mortgage Insurance: | Yes |
FHA Loan Step by Step Process:
Below find a flow chart in determining if you are eligible for a FHA Purchase or FHA Refinance loan:
- Contact FHA Loan Group experts [Contact Us] and review FHA Loan Qualification
- Provide required documents
- Obtain Pre-Approval certificate
- Get Loan Approval
- Sign the final loan paperwork
- Congratulations