Get more information about FHA Loans
THERE ARE SOME REQUIREMENTS IN ORDER TO GET APPROVED FOR FHA LOANS
- FICO® score at least 580 = 3.5% down payment.
- FICO® score between 500 and 579 = 10% down payment.
- MIP (Mortgage Insurance Premium ) is required.
- Debt-to-Income Ratio < 43%.
- The home must be the borrower’s primary residence.
- The borrower must have a steady income and proof of employment.