This is part of our ongoing blog series that answers frequently asked FAQ questions. Today’s question is: What is the absolute lowest credit score allowed for an FHA loan in 2017? And what’s the average score for borrowers who use the program? Short answer: According to guidelines from the Department of Housing and Urban Development, the […]
Why Would a Seller Not Want or Accept an FHA Loan Offer?
This is part of an ongoing series where we answer frequently asked questions about FHA loans. Today’s question comes from Tammy in Tennessee, who had concerns about using this type of mortgage when buying a home. She asks: “Why would a seller not want or accept an FHA loan when an offer is made on […]
Do FHA Loans Require a Full Home Inspection?
Short answer: No, FHA loans do not require a traditional home inspection. But they do require a property appraisal to estimate the home’s market value, and to check it for structural safety and soundness. The 7 Most Important Points in This Guide Here are the seven most important points to take away from this guide: […]
Can an FHA Loan Be Used to Buy a Duplex-Style Home?
This is part of an ongoing blog series in which we answer common questions about FHA loans. Today’s question is: Can I use an FHA loan to buy a duplex-style home with two units? The short answer is yes, an FHA-insured mortgage loan can be used to purchase a duplex property, as long as you […]
What Is the Minimum Down Payment for an FHA Loan in 2026?
Short answer: The minimum down payment for an FHA loan in 2026 is 3.5% of the purchase price or appraised value, whichever is lower. To qualify for the 3.5% down payment, you need to have a credit score of 580 or higher. If your score falls between 500 and 579, FHA guidelines require you to put […]
How do FHA appraisers determine the market value of a house?
This is part of an ongoing series in which we answer frequently asked questions relating to FHA home loans. Today’s question comes to us from a reader in San Diego. Elizabeth asks: “How does the FHA appraiser determine the market value of the house I’m buying? What steps are involved in the process of determining […]
Who Pays for the FHA Home Appraisal? Buyer, Seller or Lender?
Home buyers tend to have a lot of questions about the Federal Housing Administration (FHA) home loan program. In particular, we receive a lot of questions relating to the home appraisal process. A frequently asked question is: Who pays for the FHA appraisal? Does the buyer always pay for it? Or can the mortgage lender […]
FHA Appraisal Timeline: When Does the House Get Appraised?
How does the FHA appraisal timeline work? When does the house get appraised? What does the appraiser look for during his visit, and who pays for the appraisal? These are some of the most common questions among home buyers who use FHA-insured mortgage loans to buy a house. Today, we’ll take a look at the […]
Are FHA Loans Only for First-Time Home Buyers?
Short answer: No, FHA loans are not reserved solely for first-time buyers. Any borrower who meets the minimum qualification criteria for this program can use it to buy a house. But FHA loans are very popular among first-time buyers. The FHA mortgage program is one of the most popular mortgage financing methods among first-time home […]
FHA Swimming Pool Requirements for Inspection / Appraisal
Reader question: “We want to buy a home that has a swimming pool, if at all possible. And we’re planning to use an FHA loan so we can get the 3.5% down payment option. What are the FHA requirements for swimming pools? Does the inspection and appraisal process include the pool, or just the house?” […]