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Acquiring an FHA loan is a popular mortgage choice among many homebuyers. To qualify for an FHA loan, you must meet specific criteria involving borrower and property requirements. Every year, the FHA updates its loan guidelines.

For instance, in 2022, you can access higher loan amounts in a low-cost or high-cost area. As such, you need to stay up to date with the new guidelines to gauge if you qualify. Keep reading for details about the FHA loan requirements this year.

FHA Loan Requirements: What You Need To Know  In 2022

The global Covid pandemic has led to tough economic times making loans prone to more risks. As such, a survey revealed that 10.7% of FHA loan borrowers either had their loans in foreclosure or were overdue by 90 or more days.¹ Here is what you require to qualify in 2022.

Credit Score Requirements

The FHA will need your FICO credit score to check whether you qualify for a mortgage. You can qualify for a home loan with a minimum credit score of 500. However, although the FHA provides credit score guidelines, some lenders may still require a higher score.

Therefore, it is a good idea to research your lender options diligently before taking your pick.

Down Payment Requirements

Another requirement for the loan is a downpayment. The amount of downpayment payable depends on your credit score. If your score is 580 or higher, you qualify for a 3.5% down payment.

If your FICO score ranges between 500 and 579, you will need a 10% down payment. Therefore, if you do not have much saved for a downpayment, work on improving your score to qualify for lower down payment rates.

Debt To Income Ratio (DTI)

FHA lenders use your DTI to determine your ability to repay a loan. This ratio is arrived at by comparing your total monthly debt repayments with your pre-tax monthly income. To qualify for a loan, the FHA requires you to have a debt-to-income ratio of 43% or lower.

However, you need to note that the ratio may differ slightly from lender to lender. For instance, some lenders may accommodate a ratio of up to 45% if your credit score and downpayment are higher. 

Loan Limit Requirements

The property is required to meet FHA loan limits which differ from county to county. In 2022, the requirement is $420,860 and $970,800 for single-family houses situated in low-cost and high-cost areas respectively.

Documentation Requirements

For FHA loan eligibility, you need a valid ID (issued by the government), valid tax returns, and a social security number. Also, if you received any gift funds, you need dated and signed letters clearly explaining that the money was a gift.

Loan  Income Requirements

The FHA does not impose any income limits to qualify you for a loan.

Qualify For A Home Loan By Meeting The Above FHA Loan Requirements

With covid-related inflation breaking a 40-year record, qualifying for a loan can be a test.² Understanding the above FHA requirements can help you prepare early and maximize your chances of qualifying.


“About Mountain West Financial and the CalPATH Home Loan Program

Mountain West Financial is the exclusive lender offering CalPATH, the #1 home loan program for Teachers, Police Officers, Firefighters, and other public employees who serve our local California communities.

You may contact our CalPATH Hotline @ 800-310-7577, seven days a week from (8:30 am to 8:00 pm) or visit our website @ A CalPATH advisor will be standing by to answer (any & all) questions you may have about the home buying or refinance process.

We look forward to working with you soon!


Joe Moore

CalPATH Division Manager

NMLS #333648″


Links To Sources Used

  1. USA mortgage delinquency rates for FHA loans
  2. Covid-related inflation and loan qualification