FHA Mortgage Guidelines:  For the Professional

FHA Grants

Income Guidelines

Self Employed

Credit Guidelines

Mortgage Insurance

Refinance

Closing Costs

Secondary Financing

Loan Amount

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Miscellaneous

Borrower Eligibility

Loan Process

FHA Gift Programs
Seller Contributions

FHA Mortgage Guidelines

The FHA guidelines on this site are intended for the professional in the mortgage industry: mortgage underwriters, mortgage processors, and loan officers.  This site is intended as a guide only.  Please use caution as every lender has the authority to make determinations as to what is or is not acceptable in the grey areas or in the strength of the borrower, for their company.  Hey, it is their portfolio and their investors that take precedence.  

In addition to the prerogative of each investor, HUD makes changes to the guidelines often.  We try to keep up to date with  HUD but if you have concerns please visit the hud.gov web site as they are the one, the only,  and the final authority.  We can offer no guarantee to the accuracy of the information contained here.  All of this information is available in the HUD 4155.1 Rev 5 handbook and is available on their web site.

Today's market is in a constant state of change.  When major changes occur I send out an email or newsletter.  If you would like to be included just fill out the form on the Newsletter page.  I don't share or sell your address and I don't send out junk email.

Borrower Eligibility:

Primary Borrowers:

Permanent resident aliens are eligible under the same terms as United States Citizens. The borrower must show evidence of Green Card information.

Non-permanent resident aliens may be eligible if satisfactory evidence of legal residency and ability to work in the United States is documented.

1. Borrower must be the primary resident only.
2. Borrower must have a social security number and a satisfactory 2-year credit profile, income, assets, and credit.

Occupying Co-Borrowers:

Co-Borrower must complete a loan application and a complete underwriting of income, credit and assets is required. The co-borrower will be qualified the same as the primary borrower.

The co-borrower cannot be a person who is a third party to the purchase transaction: seller, realtor, builder, or appraiser.

Non-Occupying Co-Borrowers:

A co-borrower who will not occupy the property, but is being added to the loan application to strengthen the profile is permitted.  Maximum  financing is available under the following:

• The Co-Borrower must be a close family member or demonstrate a long-standing family relationship with the primary Borrower. If no such relationship can be verified, the LTV cannot exceed 75%.
• The subject property is a single family detached, PUD, or an approved condo unit.
• Co-Borrower must have a pimary residence in the United States of America.
• A complete credit underwriting analysis will be performed for the non-occupant co-borrower. The income, assets and debt will be included in the loan information and will be weighed equally with the borrower.