Steady income and you can evidence of work. To be able to give about a couple of years cash and you will work records is a standard need for every fund.

Restriction FHA loan amount

Down payment anywhere between 3.5%-10%. The newest advance payment minimal having a keen FHA financing is normally down than antique mortgage, and certainly will getting as little as 3.5% according to your credit rating and financial.

1: Decide if an FHA loan ‘s the right complement you

Possessions requirements pertain. You will never be eligible for a keen FHA loan if for example the domestic you want it cannot ticket brand new assessment techniques, that’s stricter with this particular kind of financing than conventional mortgage loans. Read more