Qualifying for a Federal Housing Administration (FHA) loan can be much easier compared with a conventional one. Borrowers will need a valid Social Security number, and be a lawful resident of legal age to be able to sign an FHA loan. Qualifying for a loan requires a minimum credit score of 500 in addition to a FHA-approved property appraisal and a favorable debt-to-income ratio.

• What are the Major Requirements for an FHA Loan?
• Changes to FHA Guidelines for 2018
• Guidelines for FHA Streamline Refinance

This excerpt from Valuepenguin.com Click HERE to read more.

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Stacy Schnell – Realtor Associate Cell: 856-364-0772