Buy a Home with an FHA Loan

FHA World -  FHA Loan

Buy a Home with an FHA loan. First-time home buyers and home buyers with less than perfect credit can take advantage of easier qualifying standards from FHA. To qualify for an FHA loan you must have a minimum credit score of 580 for 3.50% down payment. Credit scores below 580 will require a 10% down payment and tougher guidelines.

FHA World -  Buying a Home in Florida

The following are just some of the reasons FHA loans are popular again:


Find out if you're eligible to Buy a home with an FHA loan >>

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www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.


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Minimum Credit Score to buy a house or refinance

* FHA requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment

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

FHA Credit Score

Requires a minimum credit score of 500 to buy a home or refinance

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Collection accounts

A collection is minor in nature usually does not need to be paid off as a condition for loan approval

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

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