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My Top Ten FHA Loan Questions in Woodbridge, VA
My Top Ten FHA Loan Questions in Woodbridge, VA

Since FHA Loans are very popular right now I want to share the top ten questions that I am most frequently asked by clients considering purchasing a home.
 
1. What is a FHA Loan?
 
 
A FHA Loan is a federally insured loan that allows lenders to approve home loans with low down payments, low closing costs, and less strict credit guidelines.
                                                    


2. Who is eligible for FHA Loan?
 
Although many first time buyers utilize FHA Loans, anyone looking to purchase a home as a primary residence that does not currently have a FHA Loan is eligible. (If you already have a FHA loan you have to meet a certain standard which are addressed in one of the questions below.)
 
3. What is the credit score requirement?
 
FHA does not have a minimum credit score requirement, but the lenders do.  Right now our minimum is a 620 middle score.  If you are a few points shy ... more

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