Products

FHA Loans

Insured by the Federal Housing Administration (FHA), this is a great option for first-time buyers. If you have a limited down-payment, limited credit history, or blemishes on your credit history, this makes it easier for you to qualify. FHA offers low-interest rates for affordable monthly payments.

Products

FHA Loans

Insured by the Federal Housing Administration (FHA), this is a great option for first-time buyers. If you have a limited down-payment, limited credit history, or blemishes on your credit history, this makes it easier for you to qualify. FHA offers low-interest rates for affordable monthly payments.

FHA Loan Features

More Accommodations

FHA loans allow for lower FICO® scores and credit blemishes.

Low
Down Payments

This product requires less income
to qualify.

Primary
Residence Only

FHA loans are only meant for primary residences. First-time homebuyers still building credit tend to favor FHA loans.

Common FHA Loan Questions

What are FHA Requirements for a Purchase at iApprove Lending?

  • FHAs are for primary properties (where you intend to live),
  • Property conditions meet housing codes
  • A minimum 3.5% down payment
  • A minimum FICO® Score of 580
  • You can finance money to cover the loan’s upfront mortgage insurance premium (UFMIP).
  • Monthly housing expenses cannot exceed 47% of your pre-tax income
  • Total Monthly combined liabilities (e.g., housing expenses, credit card payments, loan payments) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

What are FHA Requirements For Refinance Rate-Term at iApprove Lending?

  • A minimum FICO® Score of 580
  • Monthly housing expenses cannot exceed 47% of your pre-tax income
  • Monthly combined liabilities (e.g., card payments, credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

What are the requirements for FHA Refinance Cash-Out at iApprove Lending?

  • FHAs are for primary properties (where you intend to live).
  • Property conditions meet FHA standards
  • A minimum FICO® Score of 580
  • Monthly housing expenses cannot exceed 47% of your pre-tax income
  • Total monthly combined liabilities (e.g., credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income
  • Maximum Loan-to-Value is 80%
  • Payment history requirements:
  • Proof that borrower(s) completed the last 12 monthly payments or ever since the borrower obtained the loan, they completed a minimum of 6 monthly payments

We will guide you if other additional requirements are needed.

Start a quote right now

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Start a quote
right now

Use our live calculator to see today’s rate.