The Federal Housing Administration (FHA) helps people to get home mortgage at quite lower down payments. However there are certain requirements you have to fulfill in order to get qualify for these loans. These requirements are very basic and can be met easily by anyone, but usually people perceive it as one of the difficult loans to go for.FHA Loans

Here the very basics of those requirements are listed:

Age Limit: you should be at least 18 years of age, when you apply for this loan.

Social Security Number: to prove that you are the resident of United States of America, you should have a legitimate social security number.

Credit Score: positive credit score is one of the most important requirements of FHA loan. Indeed, you have to prove that you are good in paying back of your debt, in order to ensure your creditor that you will keep up the phase.

Debt to Income Ratio: FHA demands a reasonable debt to income ratio, which is pretty enough to give you some realistic and acceptable credit score even if not so wonderful.

Source of Annual Income: you should have some sound source of income in order to ensure them that you can pay off your loan. Especially if you go for a large sum of loan, you should be extra careful in showing your annual income.

To sum up, if you want your self to be approved for the FHA loan, these are the very basic and easy conditions you have to meet. All you need to do is to keep an eye on these factors, especially your credit score to get be eligible for FHA loan, and once you are successful in getting it, it will give you a number of advantages, the most important being “the lower down payment”, which the other loans usually do not allow.

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Rana Mansoor Akbar Khan

Rana Mansoor Akbar Khan

Financial Blogger. Tech Journalist. Freelance web developer.


  1. January 3, 2010 at 4:01 pm

    your right FHA Loans really are a better deal

  2. August 22, 2011 at 4:34 pm

    Someone I work with visits your blog quite often and recommended it to me to read too. The writing style is superior and the content is interesting. Thanks for the insight you provide the readers!