Valued Member
Posts: 51
Registered: ‎01-20-2012

What to expect- FHA

Ok so I am buying a house with an FHA mortgage. My mid score is 645 and my income is around 16k a year. Only payment is $169 for a car. My bank pre approved me and I am making an offer on the house tomorrow for 43k. The bank already has my payment history from past landlords, information on the property, and knows I'm putting down 6.5%. I also have an inspector picked out for when that needs done. 


If the seller accepts my offer, what else can I expect to have to do with the bank to close the loan?

Moderator Emeritus
Posts: 7,230
Registered: ‎09-16-2011

Re: What to expect- FHA

[ Edited ]

It can vary. You may have to write letters explaining any negative information such as overdradts and or negative credit remarks.

You should be fine. Fha is not that hard to get if the scores are there along with reliable employment and consistently good behavior.

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Frequent Contributor
Posts: 327
Registered: ‎01-26-2012

Re: What to expect- FHA

be prepared for unexpected paperwork or LOE's. Our FHA inspector nitpicked flaking paint. On landscaped rocks etc. The seller was 86 so my son and I went over and pitched in. In hindsight it was very easy. If your score is there, Dp, and you have a decent underwriter you will be fine. I know you will worry anyway, but try to enjoy the process and congratulations. I actually enjoy cutting that check every month!!!


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Valued Member
Posts: 51
Registered: ‎01-20-2012

Re: What to expect- FHA

I want to enjoy it but I'm way too impatient lol. I just want to know we have it and I want to start remodeling!

Valued Contributor
Posts: 1,117
Registered: ‎10-31-2011

Re: What to expect- FHA

Only piece of advice is to expect the unexpected and for a very emotional roller coaster 


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