What does FHA Loan Underwriting look for?
Some of the important things that are reviewed in FHA Mortgage Loan Underwriting are: • FHA Loan Income and Debt-to-Income Ratio Requirements • FHA Loan Credit History and Credit Score Requirements • Employment History Savings and Assets, Ability to Make Down Payment Appraisal of Property To determine if you meet current FHA Loan Requirements, the Underwriters will look at: • Your income and your monthly expenses. Standard FHA Loan Requirement debt-to-income ratios are 31/43. These ratios may be exceeded with compensation factors. • Your credit history (this is important, but FHA’s credit standards are flexible).A 640 FICO credit score is required to obtain an FHA approval. What documentation will I need to submit my loan to underwriting for FHA Loan Approval? Once you have completed your application, your lender will need certain documentation from you through FHA loan processing before your loan can be submitted for FHA Loan Underwriting. Some of the documentation that will be reques
