FHA Guidelines January 2018

Current FHA Guidelines January 2018 - FHA Guidelines January 2018

FHA World - Mortgage-World.com, LLC

Welcome to FHA World - Florida 

We offer a large selection of mortgage products to refinance or buy a home. We can provide you with all the financing services you need at a great rate.

Whether you're planing to refinance, buy your first home, lower your monthly payments, buy a second home, consolidate debt or get pre-approved for a mortgage. We are devoted to providing you with first class personal service, featuring the ultimate in technology, courtesy, reliability and dependability.

Purchase or Refinance? 


Credit Score needed to buy
a condo or refinance


FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%

FHA requires a minimum credit score of 500 to buy a home or refinance


Bankruptcy

Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date


Foreclosure

Foreclosure must have been resolved for at least 3 years

Government loan: Seasoning is determined by the date the claim was paid

Loans other than Government: Seasoning is determined by the date of sale the lender sold the property


Short Sale

FHA guidelines requires three year past from the date of sale of the property


What documentation will I need?

  • Personal tax returns for the past 2 years
  • Current pay stubs for the past month
  • Bank statements for last 2 months (all pages)
  • Clear copy of Driver’s License (front and back)
  • Clear copy of SS card (front and back)

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