July 7, 2020

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Articles Tagged With: Prequalification

What Is An FHA Loan Limit?

FHA Home Loans: What You Need To Qualify

Qualifying for an FHA mortgage is a lot like qualifying for any other major line of credit. FHA home loans are open to all financially qualified borrowers; no applicant is turned away by an FHA lender for “earning too much” and no applicant is denied the chance to apply because they don’t fit into a specific category of wage earner. The amount of income you earn only matters as related to your ability to afford the loan. The FHA loan program is not aimed specifically at one type of income group or another. Credit Qualifying For An FHA Loan Qualifying for an FHA loan means having a FICO score acceptable to both the FHA and your lender. FHA FICO score standards start at 580 and above for maximum financing (minus | more...