NEW FHA Loan Requirements ( First Time Home Buyer Guide )

Are you a first time home buyer interested in buying with a minimal down payment? This guide will breakdown everything you need to know about qualifying with an FHA loan .

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⏩ FHA Income Requirements -   • NEW FHA Income Requirements 2024 - Fi...  
⏩ FHA Loan Requirements -    • NEW FHA Loan Requirements 2024 - Firs...  
⏩ How much can you afford with FHA? -    • NEW FHA Loan Requirements 2024 - How ...  
⏩Comparing Monthly Payments on FHA vs Conventional Loan -    • NEW Comparing Monthly Payments on FHA...  

0:00 - Who can use an FHA Loan?
0:33 - Busting Myths Around FHA Loans
1:40 - Discussing Overlays On FHA
2:30 - Credit Score & Down Payment Requirements For FHA
3:26 - Closing Costs Requirements for FHA Loans
4:19 - Mortgage Insurance Requirements for FHA
6:26 - Calculating The UFMIP for FHA
7:45 - How Do You Get RID of FHA Mortgage Insurance?
8:22 - Why Pre-Approval Is So Important
9:20 - FHA Debt To Income Ratio Requirements ( Calculating FHA DTI)
12:24 - Types of Properties You Can Finance Using FHA
13:29 - FHA Self Sufficiency Test
14:33 - Why Some Condos Can't Be Financed With FHA
15:43 - FHA Loan Limits (How Do They Work)
16:40 - FHA Income and Employment Guidelines
18:10 - When Should You Start The Pre-Approval Process?
18:34 - What Documenation Is Required For An FHA Loan?

FHA Approved Condo List - https://entp.hud.gov/idapp/html/condl...
FHA County Loan Limits - https://entp.hud.gov/idapp/html/hicos...

NEW 2024 FHA LOAN LIMITS -

Low Cost Areas:
One-unit: $524,225
Two-unit: $671,200
Three-unit: $811,275
Four-unit: $1,008,300

High Cost Areas:
One-unit: $1,209,750
Two-unit: $1,548,975
Three-unit: $1,872,225
Four-unit: $2,326,875


Jeb Smith
DRE 01407449
Real Broker

#HousingMarket2025 #RealEstate #FHA