Qualifying Facts About The Fha Loan.
In order to qualify for FHA loans, you must have two years of verifiable employment and it is preferred that the employment is at the same place. The home buyer must have a valid social security number and be a legal resident of the United States. The FHA loans qualifications also consist of a good credit history for the past two years, no bankruptcies in the past two years, and no foreclosures in the past three years. You must go through an Fha application process that can take anywhere from 2 weeks up to two months depending on how organized the home buyer is with their paperwork.
