FHA Mortgage Guidelines

Mortgage Insurance
FHA insured loans require mortgage insurance to protect lenders against losses that result from defaults on home mortgages.

Lending Limits for FHA Loans
CT FHA mortgage lending limits vary based on a variety of housing types and the state and county in which the property is located. Check with a mortgage professional for new FHA lending limits.

Your FHA Loan Checklist
Before you start the loan process for a purchase or refinance, you'll want to be prepared for the loan application. Have your information organized and ready for your loan officer. Be prepared to pay for property appraisal and a credit report.

FHA Closing Costs
While FHA defines which closing costs are allowable as charges to the borrower, the specific costs and amounts that are deemed reasonable and customary are determined by each local FHA office.

FHA Debt to Income Ratios
In order to prevent homebuyers from getting into a home they cannot afford, FHA guidelines have been set in place requiring borrowers and/or their spouse to qualify according to set debt to income ratios.

FHA Credit Issues
An FHA loan applicant's past credit performance that demonstrates good credit history and a solid track record of timely payments will likely be eligible for the mortgage. There are many changes taking place with the FHA guidelines, so please call. What may have not been available in the past may be available today.

Call 203-878-5007 today and learn how you can purchase or refinance a home using a Connecticut FHA Programs from a HUD Endorsed FHA Lender