FHA Requirements

FHA is a great loan for anyone, whether they are buying or refinancing. FHA does have requirements though, and I actually wrote about those today in my article.




It’s just simple stuff, and it’s easy to understand. The great thing about buying with an FHA loan is they only require 3.5% down! A conventional loan is going to require a down payment of anywhere from 5% to 30%, and not a lot of families have that kind of money just lying around.



The other great thing about the FHA requirements is they don’t expect you to be perfect. While they don’t want to see a current bankruptcy or large amounts of delinquent debt, they are more lenient on old derogatory credit. So, don’t let another slow pay sneak up on you if you have had them in the past. Just be sure that you have made notes on why you had them, and we can move on.



FHA requirements aren’t hard, but it’s just commonsense. This is what makes doing an FHA loan so great. I do them every day, and I get to help families do things that otherwise they couldn’t do because they weren’t working with the right professional.



Knowing FHA requirements means that you need someone who knows the industry thoroughly, and pays attention to the details. You don’t want to commit to thousands of dollars and have everything mishandled. This is your money, your life and your family.



FHA requirements take a professional like me to help you. This is important. For more information, visit my website at www.fhaloansnow.net, or email me at mdallal@fhaloansnow.net.

-Mayer Dallal