With less than 10% down payment, mortgage insurance is permanent
May have to refinance to remove mortgage insurance (even with sufficient equity)
Condominiums must be FHA approved
Property must be free of major electrical, structural or foundational issues
FHA Loan Checklist
When you’re applying for an FHA loan, the following list of documents will help expedite the process. We can help you understand any part of the FHA loan process so don’t hesitate to contact us with any questions.
Past two years’ completed tax returns.
Past two years’ W-2s, 1099s and any other necessary tax forms.
Most recent 30-day’s pay stubs.
Self-employed borrowers may need three years’ tax returns and YTD Profit & Loss Statement.
Past two months’ full bank statements for all accounts.
Most recent statements from investment accounts (retirement, 410k, mutual funds, etc.).
Driver’s License or other official state identification.