Kentucky FHA Mortgage Pre-Approval Checklist

Kentucky FHA Mortgage Pre-Approval Checklist.

via Kentucky FHA Mortgage Pre-Approval Checklist.

We basically look at the below items to get you pre-approved to buy a home.

Credit: Most lenders want a 640, but there are some lenders now doing FHA loans down to a 620 score with no bankruptcies or foreclosures in the last 3 year.

Assets: FHA loans require a 3.5% down payment, so depending on how much house you are trying to buy, you will need to put the minimum 3.5% down payment. Some programs are out there where you don’t need a down payment, USDA and KHC come to mind.

 In order to get you pre-approved, I will need the following items from you. This is a free process and I will give you a copy of your credit report for free.