To qualify for an FHA loan, you generally need a credit score of at least 500, along with a few key documents, you can navigate to our resources page to learn more.
Generally you will need:
- 2 monthls income or paystubs (to verify employment)
- 2 years of income history (either W-2 or 1099 forms) to show consistent work history and the ability to make payments
- 2 months of bank statements (to evaluate your spending habits)
- A reasonable debt-to-income ratio (typically, no more than 50% of your income should go toward debt payments)
Keep in mind, FHA loans have specific requirements, but there are also many other financing options available, such as conventional loans, seller financing, lease options, and subject-to agreements. If you're determined to buy a home, there are always possibilities. contact us for questions!
A signed agreement is required to physically tour properties.
Our standard fee is 2.5%. In most cases, we can negotiate for the seller to cover all or at least a portion of this fee, ensuring that our services come at no cost to you.