Home Loan Credit Requirements

 · FHA wants to be sure that the home they insure. the one you’re buying. has no health or safety issues that could compromise your ability to repay your mortgage. As you tour a home with your agent anticipating that you’ll use an FHA loan for purchase, watch for these items.

Key Underwriting Criteria There is no maximum debt ratio. However, the lender must provide compensating factors if the total debt ratio is more than 41 percent.

For borrowers in the informal sector, there could be more specific requirements. However, it is more to assess the risk and not much with the home loan eligibility. “Credit rating and credit.

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