What is an FHA loan?
Types of FHA loans
There are 3 basic FHA loans:
- 30 year fixed rate and term
- 15 year fixed rate and term
- 1 year adjustable rate and term
All FHA loans require that you supply full
documentation. This includes two, most
recent consecutive paystubs, last two year’s
W-2’s and a verbal verification of
employment. When there is overtime or
additional income, a full verification of
employment may be required. In the event
that the overtime or bonus income exceeds
25% of a client’s base pay, tax returns will
also be required. The one exception is a
Streamline FHA refinance. A Streamline
refinance is a non-cash out refinance
transaction for homeowners who already have
a FHA loan.
Helpful Links
FHA vs
Conventional
What is an FHA Loan
FHA FAQ's
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