FHA hub
The home has to pass too
FHA looks at the house, not only at the buyer.
You live there
An FHA loan is for a home you will use as your own. It is not meant for a place you will rent out and never live in. A building of up to four homes can work if you live in one of them.
The appraisal
The lender orders an appraisal from an appraiser on HUD's list. It checks the home's condition and what similar homes nearby sold for. If the home falls short, the lender may ask for repairs first.
Your own inspection
The appraisal is not an inspection. Book your own inspection and read the report before you commit.
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.
- Steps from search to keysThe order most FHA buyers follow.
Educational only. AskResi is not a lender.