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We are not affiliated with the government in any way. We are a private company that engaged writers to research FHA loans and compiled a guide and the following answers to frequently asked questions. Our goal is to help you get the benefits that you need by providing useful information on the process. We are not providing legal or financial advice. If you need such advice please contact an attorney or a financial advisor.
Federal Housing Administration (FHA) Loans are administered by the Department of Housing and Urban Development (HUD) and provide low-income families with the opportunity to secure housing through affordable lending options. FHA Loans are backed by HUD and have lower down payments, low closing costs and lower credit qualification than standard bank loans.
To learn more about FHA Loans, visit the Department of Housing and Urban Development (HUD) website here.
Different types of FHA Loans are available depending on what you need in order to help you afford your home. Depending on your situation you may need one of the following:
For more information on FHA loans, visit the HUD Housing site here.
The amount of assistance provided by each FHA loan option depends on the following:
Depending on all these factors, a lender will decide how much an applicant is allowed to borrow.
There are different requirements for each type of FHA Loan. Below you will see a breakdown of each loan option and their general requirements:
For more information on FHA Reverse Mortgages, click here.
Learn more about FHA Energy-Efficient Mortgages and their criteria here.
To apply for an FHA Loan you must follow these three steps:
1. Pick which FHA Loan option you are interested in.
You can review FHA Loan programs here.
2. Contact a Lender.
In order to receive an FHA loan you will need to contact a HUD-approved lender in your state to review your lending options and approve your loan. Check HUD’s Lender List Search page to locate a lender near you here.
3. Apply for a loan through HUD
If you have any questions about the application process, you can contact a Housing Counselor at (800) 569-4287. You can also send an email to firstname.lastname@example.org.
You can check your loan status by contacting the HUD lender you contacted to approve your loan. You can find a HUD lender using the tool here.
After you are approved, you will be given the loan amount approved by your HUD lender and will be able to use it as dictate in your program parameters. For example, if your loan is to purchase a new home, your loan amount will go towards your down payment or first mortgage payment.
If your income changes, you will need to contact your HUD lender to see if any points of your loan need to be changed. To contact a HUD lender, click here.
If you are denied an FHA loan from your HUD lender because of your debt ratio, you cannot appeal the decision. You can apply through a different HUD lender or apply for a different FHA loan program, but you cannot appeal the decision.
However, if you ask your lender why you were denied and they do not provide you with an answer, you can file an appeal under the Freedom of Information Act (FOIA) so the lender will need to release the reason why you were denied an FHA Loan.
To file a FOIA appeal you will need to provide the following information:
Once you have the necessary proof, you can submit your request by mail or by email.
To submit your FOIA appeal by email, send all your proof to HUDFOIAappeals@hud.gov.
To submit an appeal by mail, send your proof to your local HUD office. To find your local office, click here.
To find your local HUD office, click here.
If you have any further questions about FHA Loans, you can contact the HUD information line at (800) 225-5342.
If you are hard of hearing, you can call the Federal Information Relay Service TTY line at (800) 877-8339.
If you need to contact a HUD-approved housing counselor, you can call (800) 569-4287.
You can also visit your local HUD office, here, for more information.
While we are not affiliated with the government in any way, our private company engaged writers to research FHA loans and compiled a guide and these answers to frequently asked questions. Our goal is to help you get the benefits that you need by providing useful information on the process.
Our free FHA Loans Guide is filled with helpful information about how to apply, program eligibility, and how to get in touch with local offices. You can view or download our free guide here.