FHA hub
Steps from search to keys
The order most FHA buyers follow.
Before you shop
Check your credit reports. Ask a lender that makes FHA loans for a pre-approval, which is a lender's written look at what it may lend based on your information. It is not a promise.
After an offer is accepted
The lender sends a Loan Estimate: a standard three-page form with the loan's terms and costs. Book the inspection. The lender orders the appraisal.
Before closing
A few days before closing you receive a Closing Disclosure. Compare it to the Loan Estimate line by line, and ask about any difference.
At closing
You sign, pay what is due and get the keys. An escrow account usually collects part of each monthly payment for property taxes and insurance.
More FHA topics
- How an FHA loan worksA regular loan from a regular lender, with a government guarantee behind it.
- Down payment and creditThe two things most buyers ask about first.
- Mortgage insurance (MIP)The cost that pays for the government's guarantee.
- Loan limitsFHA caps the size of a loan. The cap depends on the county.
- The home has to pass tooFHA looks at the house, not only at the buyer.
Educational only. AskResi is not a lender.