You're Now Reading:
Check to see if you’re eligible for a FHA loan
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Check to see if you’re eligible for a FHA loan
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Check to see if you’re eligible for a FHA loan
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates
Check to see if you’re eligible for a FHA loan 2017-09-27T07:28:19+00:00

Loans insured by the Federal Housing Administration (FHA) are usually the easiest and most flexible types of mortgage loans to secure. The FHA doesn’t originate loans, but instead, insures lenders against losses in case of default thus providing mortgage lenders the opportunity to originate loans to higher risk borrowers like those who may be credit challenged or who may lack a mortgage payment history like first-time home buyers.

The basic requirements for obtaining an FHA loan include:

– Two years of steady employment, preferably with the same employer

– Income that has either been steady or increasing over the previous two years

– No more than two 30-day late payments over the previous two years with a minimum credit score of 620 (though no credit score may be acceptable in some cases)

– Your mortgage payment cannot exceed 31 percent of your gross mortgage with your total obligations not exceeding 43 percent of your gross income

– Bankruptcies must be at least two years old while a previous foreclosure must be at least three years with perfect credit since the blemish

Although these are just general basic requirements, different lenders may also have additional or different requirements in order to obtain an FHA loan.

Related Articles:

Learn about FHA Loans

Benefits of a FHA Loan

FHA Loans for first time home buyers

FHA Loan requirements

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates
Check to see if you’re eligible for a FHA loan 2017-09-27T07:28:19+00:00

Loans insured by the Federal Housing Administration (FHA) are usually the easiest and most flexible types of mortgage loans to secure. The FHA doesn’t originate loans, but instead, insures lenders against losses in case of default thus providing mortgage lenders the opportunity to originate loans to higher risk borrowers like those who may be credit challenged or who may lack a mortgage payment history like first-time home buyers.

The basic requirements for obtaining an FHA loan include:

– Two years of steady employment, preferably with the same employer

– Income that has either been steady or increasing over the previous two years

– No more than two 30-day late payments over the previous two years with a minimum credit score of 620 (though no credit score may be acceptable in some cases)

– Your mortgage payment cannot exceed 31 percent of your gross mortgage with your total obligations not exceeding 43 percent of your gross income

– Bankruptcies must be at least two years old while a previous foreclosure must be at least three years with perfect credit since the blemish

Although these are just general basic requirements, different lenders may also have additional or different requirements in order to obtain an FHA loan.

Related Articles:

Learn about FHA Loans

Benefits of a FHA Loan

FHA Loans for first time home buyers

FHA Loan requirements

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Check to see if you’re eligible for a FHA loan 2017-09-27T07:28:19+00:00

Loans insured by the Federal Housing Administration (FHA) are usually the easiest and most flexible types of mortgage loans to secure. The FHA doesn’t originate loans, but instead, insures lenders against losses in case of default thus providing mortgage lenders the opportunity to originate loans to higher risk borrowers like those who may be credit challenged or who may lack a mortgage payment history like first-time home buyers.

The basic requirements for obtaining an FHA loan include:

– Two years of steady employment, preferably with the same employer

– Income that has either been steady or increasing over the previous two years

– No more than two 30-day late payments over the previous two years with a minimum credit score of 620 (though no credit score may be acceptable in some cases)

– Your mortgage payment cannot exceed 31 percent of your gross mortgage with your total obligations not exceeding 43 percent of your gross income

– Bankruptcies must be at least two years old while a previous foreclosure must be at least three years with perfect credit since the blemish

Although these are just general basic requirements, different lenders may also have additional or different requirements in order to obtain an FHA loan.

Related Articles:

Learn about FHA Loans

Benefits of a FHA Loan

FHA Loans for first time home buyers

FHA Loan requirements

About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.