Who can qualify for a FHA home loan?
Written By: admin on August 20, 2009
One Comment
Do you have to have a low income or can anyone qualify? i’m interested in purchasing a hud home and someone suggested an FHA loan. Any info on FHA?
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No you don’t have to have low income for an FHA loan but you do need the following.
1) 620+ mid score
2) Stable work history
3) Enough income to support the payment ( FHA will go as high as a 55% back end debt to income ratio)
4) 3.5% for the down payment