Licensed in the State of Florida


FHA Loans 2016

FHA Loans 2016


Buy a House with a FHA Loan

FHA announced a set of policy changes to strengthen the FHA. The changes announced are the latest in a series of changes enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

  • 580 credit score to qualify for FHA's 3.5% down payment
  • Below 580 credit score 10% down payment
  • 500 minimum credit score
  • No credit scores are allowed

Borrowers may also be eligible for an FHA insured loan on a purchase transaction after 12 months from the completion, discharge,trustee's sale if the borrower meets the requirements for extenuating circumstances Economic Event.

Borrowers with a prior bankruptcy, foreclosure, deed-in-lieu, or short sale may be eligible for an FHA insured loan if the bankruptcy, foreclosure, deed-in-lieu, short sale was the result of a documented extenuating circumstance.

FHA Loans 2016

Debt to Income Ratio to Buy a House

Debt to income ratios are the calculations underwriters use to determine whether a borrower can qualify for a mortgage. They are used to determine if you have the capacity to repay your mortgage.

  • FHA DTI ratio is 45%/55% with credit score above 620
  • FHA DTI ratio is 31%/43% with credit score below 620

There are two calculations. The first or Front Ratio is your housing expense-to-income ratio. This is your proposed mortgage payment (principle, interest, taxes, mortgage insurance, and home owners insurance) divided by your gross monthly income.

The second or Back Ratio is your total monthly obligations-to-income ratio. This is your gross monthly payment including Mortgage PITI divided by your gross monthly income.

Today’s historically low interest rates make now the perfect time to purchase a new home or refinance.

One of the most popular types of mortgages is the 30-year fixed-rate mortgage. This loan is usually the easiest to qualify for and provides the maximum interest deduction at tax time. The interest rate stays the same over the life of the loan which provides unchanging low monthly payments.

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FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan

FHA loan requirements - ‎FHA loan limits - ‎FHA loans - ‎FHA Streamline


Mortgage World Home Loans is an online mortgage company specializing in FHA loans for first time home buyers. To buy a house with 3.5% down payment and a minimum credit score of 580 using an FHA loan apply now.


We look forward to working with you.

FHA loans 2016 Florida

Credit score needed

to buy a house


FHA credit score

FHA requires a minimum 500 credit score to buy a house

500 credit score

VA credit score

VA requires a minimum 500 credit score to buy a house

500 credit score

Fannie Mae credit score

Fannie Mae requires a minimum 620 credit score to buy a house

620 credit score

Freddie Mac credit score

Freddie Mac requires a minimum 620 credit score to buy a house

620 credit score


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888-958-5382

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