Program Search

FHA Loan
Department of Housing & Urban Development
www.hud.gov

Program Overview

FHA Loan is a standard fixed rate loan for 1 to 4 family owner occupied houses and only requires mimimum of 3% from the borrower. This loan permits 100% of the borrower's money needed to close to be a gift from a relative, non-profit organization, or government agency. Properties located anywhere in the Continental U.S., Alaska and Hawaii are eligible.

Who is eligible for this program?

Borrower must supply 1 full month's worth of pay stubs showing year to date earnings; the last years W'2's for salaried employees; self-employed borrowers must have the last 2 years of income tax returns with all schedules, and the last 2 month's bank statements. Borrowers must qualify with a participating HUD approved mortgage lender under FHA guidelines. The FHA Loan Limits can be found at: https://entp.hud.gov/idapp/html/hicostlook.cfm Borrowers can purchase a home or refinance their current home. Is this program for first time buyers only? No

Property Eligibility Requirements

All of the Continental United States, Alaska and Hawaii are eligible. Allowable property types: Single Family homes, 1 to 4 units, FHA approved condo's and PUD's

Benefit Details

Low down payment of only 3% down is required from the borrower. Benefit: Someone who may have had a few credit problems or no traditional credit should be able to obtain an FHA loan. Loan Term: 10-30 years Owner Occupancy Required: Yes Other Program Comments: The current FHA Loan Limits can be found at: https://entp.hud.gov/idapp/html/hicostlook.cfm

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.