FHA requirements & FHA Guidelines
FHA Loan limits
FHA Mortgage is designed specifically to address the needs of homeowners who are now facing inevitable Home foreclosure as result of mortgage payments adjusting beyond their means of affordability.
WHO IS ELIGIBLE
To qualify for FHA Mortgage, and include the delinquent loan payments, homeowners wishing to refinance must meet the following requirements:
- Have a non-FHA insured ARM that has reset
- Sufficient income to make the mortgage payment and
- A history of on-time mortgage payments before the loan reset
Homeowners who are current on their FHA conventional mortgages must have sufficient income to make the mortgage payment.
By refinancing into a FHA approved mortgage, you can expect to pay lower monthly mortgage payments. FHA Mortgage can improve the quality of life for many communities by helping to reduce the number of mortgage defaults and bringing greater stability to local housing markets.
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