In General, FHA Qualifying Requires the Following:

1. Stable predicable income likely to continue.
2. Income should be the same or increasing. 
3. Credit report should have minimal 30 day late pays within the last 12 months.
4. Bankruptcy's must be at least 2  years old, with no late payments since the Bankruptcy.
5. Foreclosure's must be at least  3 years old with no late payments since the Foreclosure.
6. Your new monthly mortgage payment should be approximately 35% of your before tax monthly income.

What's the Secret For Qualifying For An FHA Mortgage?

The real qualifying question is "Does It Make Sense"?. FHA loan approvals are made based upon a common sense approach to mortgage lending. We specialize in putting together FHA loan packages that tells a story about your situation. Our goal is to shine on the positive aspects of your payment history to show the underwriter your qualified based upon your ability and the willingness to pay debt.

These are just a few of the most fundamental qualifying guidelines used to pre-qualify homebuyers and homeowners. If you can meet these most basic qualifying criteria, chances are your qualifed for an FHA mortgage loan regardless of where you live.

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