In my videos, I often say "it depends on your loan type" so today I'm breaking down the specific qualifications of an FHA loan including credit score, debt to income ratios, and more!
FHA loans are insured by the government allowing borrowers to buy a home with lower credit scores and lower down payments than conventional loans, so they are often a great choice for first time home buyers!
📥 To help you understand what's needed to qualify for an FHA Loan, download my FHA Loan Cheat Sheet here: HERE
Watch On YouTube: https://youtu.be/PBVdSTaJmNg
0:00 Video Intro
1:20 The 6 FHA Qualifications
2:13 Credit Score Requirements
3:52 Debt to Income Requirements
5:58 Bank Statement Requirements
7:41 Down Payment and Gifts
9:03 Rental History Requirements
11:39 Does Your Credit History Matter?
Every year an average of 21 million people apply for mortgages in the US, and only around 7 million close. I'm on a mission is to change that by spreading mortgage education. Sign up for my newsletter to be a part of my Mortgage Peace Movement!