am i eligible for a FHA loan?

Unlike conventional home loans, FHA loans have less rigid guidelines to determine eligibility. Since FHA-approved lenders, like FHA Loan Spot.com assume less risk, they can provide loans regardless of your income level, if you've had previous financial problems, and with less cash for a down payment.

At FHA Loan Spot.com, our friendly experts specialize in FHA loans and can help you determine whether our not your eligible for an FHA loan and your available options.

If you have any questions about FHA loans and how you can qualify, please feel free to contact one of our FHA loan specialists at 1(888) 892-1858, or check other topics of our FHA Help Center.

what if i've had a bankruptcy?

If you've had a bankruptcy in the past you may still qualify for an FHA home mortgage. Unlike many other conventional loans, if you've had a bankruptcy in the past, you will not be automatically disqualfied from getting a loan.

Chapter 7 Bankruptcy

If you've had a Chapter 7 Bankruptcy, you will not be automatically disqualified from getting an FHA home loan. FHA guidelines require that at least two (2) years have passed since the discharge date of your bankruptcy, rather than the filing date.

Chapter 13 Bankruptcy

In the case of a Chapter 13 Bankruptcy, if you are still paying towards your Chapter 13 Bankruptcy, you may still qualify for an FHA home loan, as long as good payments for at least a year.

Regardless of which type of bankruptcy that you've had in the past, you need to have re-established good credit, have job stability and qualify financially to qualify for an FHA home mortgage.

If you have any questions about FHA loans and how you can qualify, please feel free to contact one of our FHA loan specialists at 1(888) 892-1858, or check other topics of our FHA Help Center.

can anyone get a FHA loan?

Many people have misconceptions about FHA home loans. Although FHA loans are backed by the Federal Housing Administration (FHA), practically anyone can get an FHA home loan. Since FHA loans are lower risk for lenders, they can offer loans with less rigid underwriting guidelines than conventional loans.

Because FHA mortgage lenders, like FHA Loan Spot.com, have more flexibility in determining eligibility than conventional home loans. In fact, even if you've been turn down by your bank for a mortgage you may still qualify for an FHA home loan. Unlike your bank, at FHA Loan Spot.com we specialize in FHA home loans, and our expert staff has experience in processing FHA loans. We work with FHA loans everyday, and our specialist know how to help you get qualified and find the right mortgage solution for you.

Even if you have had credit problems in the past, like a bankruptcy, and regardless of how little or how much you make you can still qualify for an FHA mortgage.

Generally, regardless of your income level, you can qualify for an FHA loan. Qualifying for an FHA loan depends on your debt-to-income ratio. These guidelines help our specialist establish that you get a mortgage that you can afford.

If you have any questions about FHA loans and how you can qualify, please feel free to contact one of our FHA loan specialists at 1(888) 892-1858, or check other topics of our FHA Help Center.

does my income matter?

You may qualify for an FHA loan regardless of your income level. Qualifying for an FHA loan is determined by your debt-to-income ratio. These guidelines allow the lender to ensure that you're not taking on a loan that is too much for you to handle.

More importantly than you income is the amount you wish to borrow. FHA loans have loan limits or a maximum that you can borrow for your FHA mortgage. These limits vary in different areas.

It is also important to show consistent employment when qualifying for a FHA loan. Typically you need to show two years of steady employment to qualify, however there are exceptions. Just ask one of our FHA loan specialist to see if you qualify or start by filling our our FHA Loan Request Form.

If you have any questions about FHA loans and how you can qualify, please feel free to contact one of our FHA loan specialists at 1(888) 892-1858, or check other topics of our FHA Help Center.

what if my credit isn't perfect?

Even if you've had less than perfect credit or past credit problems you may still be eligible for an FHA home mortgage. Due to less rigid guidelines for qualifying for an FHA loan, you may qualify even if you've been denied a conventional home loan by your bank. Even though your credit does not need to be perfect to qualify, you do need a decent credit history of timely, consistent payments. Our FHA mortgage specialist will look at different areas of your credit history to help you determine if you qualify.

Typically you will be required to supply two lines of credit on your credit report, such as a credit card from Visa or Mastercard. If you do not have established credit, our specialists will subsitute payments such as a car payments, or your utility payments. We'll look at your overall history of credit payments, rather than just your late payments. Even if you've had financial problems in the past, you may qualify if you maintained a good credit pattern since.

If you have any questions about FHA loans and how you can qualify, please feel free to contact one of our FHA loan specialists at 1(888) 892-1858, or check other topics of our FHA Help Center.