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FHA Loan Requirements

HUD made a few changes to FHA loan requirements over the last year.  One of the major FHA loan guideline changes is the down-payment requirement.  FHA now requires 3.5% down-payment, rather than 3% required in previous years.  The 3.5% FHA down payment takes the maximum loan to value to 96.5% for purchase or refinance loans.  Cash out limitations have been changed to a maximum of 85% to meet FHA loan requirements.
The FHA appraisal policy now requires a 3rd party appraisal company for FHA refinance and purchase loan transactions.  Unfortunately these new appraisal guidelines have slowed down the process because FHA lenders lose control and often FHA appraisers are hired outside their scope of expertise. 

The FHA streamline loans have seen a few modifications to the FHA requirements as well.  According to HUD, streamline loans must meet the following FHA loan requirements:

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FHA Refinance loans offer a new opportunity for borrowers with less than perfect credit to qualify for a fixed rate FHA mortgage!

FHA Home Refinance
FHA Streamline
FHA Mortgage Rates
Cash Out Loans with FHA
Pre-Approval Mortgage

Revised Down payment and Maximum Mortgage Requirements


  • The 1st mortgage to be refinanced must already be FHA insured.
  • The FHA loan to be refinanced must be current.
  • The new FHA refinance must reduce borrower's monthly principal and interest payments.
  • No cash may be accessed with FHA loan refinance using the streamline loan program.

Borrowers across the country have migrated to FHA refinance loans, because these government loans ensure low fixed rates and do not require as much equity as conventional loans.  FHA Home Loan Services offers FHA refinance options for bad credit borrowers and prime credit homeowners seeking the lowest fixed rate refinancing anywhere in the country. For millions of Americans, refinancing with FHA enables them to secure a low mortgage rate and lower monthly payment that is fixed for life. Home refinancing is a major financial decision that impacts how much interest you will pay for the life of a loan, so the better the interest rate…the more money you will save. HUD introduced FHA many years ago to ensure that more Americans were given equal credit opportunity with fair lending policies. Today, FHA continues to play a tremendous role in supporting home financing during a time of credit crunches.

Do You Meet FHA Loan Requirements?

There are several types of refinance loans offered with FHA. Review the refinance rates, FHA requirements, and refinancing options below based on which loan meets your needs.

FHA Refinance Rates dropped to record levels in 2010, but with inflation concerns, most industry insiders are predicted that the Federal Reserve will raise interest rates sooner rather than later. Refinance today and benefit from a fixed interest rate guaranteed for fifteen to thirty years.


15-Year FHA Rates | 30-Year FHA Rates | 5-Year ARM Rates
All FHA mortgage products are provided by FHA Home Loan Services, which may arrange loans with third party providers. FHA Home Loan Services is national mortgage lender. Not everyone will qualify for a government insured mortgage. FHA Home Loan Services cannot guarantee all loans will be made or whether all loan applications will be approved by the investing bank.
This is not a commitment for a FHA house loan or an advertisement for credit as defined by paragraph 226.24 of regulation Z.
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