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FHA home loans are government loans with lenient credit checks; however, there are some guidelines to be able to receive a FHA mortgage. The person trying to qualify will need their debt to income ratio to fall within the FHA requirements before they are approved. FHA loans are approved by computers and humans allowing each loan to be looked at individually where sometimes exceptions can be made. The FHA guidelines are not made to create problems for anyone; in fact they allow everyone to succeed. The guidelines protect the borrower from getting in over their head with a mortgage while still approving many people that may not be approved otherwise. The guidelines also make it possible for banks to feel confident that they will be repaid the FHA loan they grant. Continue reading ‘FHA Guidelines – FHA Mortgage Loans For Purchase Or Refinance’ »