FHA Loan Advantages

• Low down payment required (3.5 percent minimum)
• Can go as low as 580 credit score
• Not limited to 43 percent for debt-to-income ratio. Can go as high at 56.99%
• FHA loans are assumable
• FHA loans are eligible for ”streamline” refinances
• Shorter timeframe following major credit problems (3 years vs. 7 years for foreclosure and 2 years vs. 4 years for bankruptcy)
• FHA loans typically will have a lower base interest rate than a comparable conventional loan
• Non-occupant co-borrower (relative) may be used for qualifying by blending ratios