How to Qualify for an FHA MortgageTo qualify for an FHA home loan, a borrower must meet specific eligibility requirements. Just like any loan program, a homebuyer should be able to show previous responsibility and ability to pay the loan back. Compared to any other loan programs though, FHA is the easiest to be eligible for if you meet the minimum requirements.
Borrowers must have at a minimum:
- Acceptable credit profile and score
- Have at least 3.5% down payment
- Ability to repay the mortgage as set forth by HUD guidelines
- Two-year verifiable employment history