• Proof of Employment of at least 2 years
• Stabilized or Rising income for the past 2 years including current year
• History of on-time payments (no more than two missed payments on your credit)
• If you have filed for bankruptcy, wait at least 2 years to start establishing good credit since you have filed
• Those who had currently filed a foreclosure should wait at least 3 years
• You should be willing to pay 30 percent of your gross income on the monthly mortgage payments
• You should be willing to pay at least the minimum of 3 percent down payment
• You must agree to 2.25% to the closing costs
• You must be residing in the property you want to get the FHA Loan on

The Following properties are FHA Loan Qualified-

• Single-family homes,
• Condominiums,
• Double-Wide manufactured homes,
• Modular homes, And
• 2- to 4- Unit Properties

These are just the fundamental essentials prior applying for an FHA Loan through Pramod Zacharias as you can see what you need to have to help you get you started to be qualified for an FHA Loan. To learn more, freely contact us or to save some time, apply online to get the process started.