Make sure that you meet basic FHA loan requirements. You must be able to meet most, if not all, of these standards to qualify. You must prove that you have had 2 years of steady employment where your income has remained the same or increased. Your credit score should be 620 or higher with fewer than 2 30-day late payments in the past 2 years. You cannot have declared bankruptcy in the past 2 years or had a foreclosure in the past 3 years. If you have, you will likely not qualify for an FHA loan unless your credit has been perfect since.
Posted on: Sun, 03 Nov 2013 21:50:00 +0000
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