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:

  1. Contact FHA Loan Group experts [Contact Us] and review FHA Loan Qualification
  2. Provide required documents
  3. Obtain Pre-Approval certificate
  4. Get Loan Approval
  5. Sign the final loan paperwork
  6. Congratulations

Purchase

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Refinance

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Our average client in 2010 reduced their payment by $122 a month Saving thousands of dollars
Why use a FHA Loan
  • Low Down Payment
  • No Minimum FICO Score
  • Assumable
  • Low Interest Rate
  • No Monthly Mortgage Insurance
  • No Pre-payment penalty
  • FHA guarantee

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