How do I know if I qualify for an FHA loan?
When it comes to qualifying for an FHA loan, credit score and down payment amounts are just part of the equation. There are several other requirements that go into applying for an FHA loan. To give you a general idea of what to expect, here are a few guidelines:
- Proof of steady employment history is required or proof of working at the same employer for at least two years
- You must have a valid Social Security number
- FHA loans are limited to U.S. citizens, permanent residents and citizens of Micronesia, Palau, and the Marshall Islands