In this episode realtor Anthony Luevanos and lender Angel Luevanos cover everything you need to know about the FHA loan. Here are some of the questions they cover:
What is the minimum down payment required?
What is the minimum credit score required?
What is MIP (Mortgage Insurance Premium), and how much?
What is the maximum debt-to-income ratio?
Does the home need to be your primary residence?
Can you rent a home that is FHA financed?
How can you get rid of mortgage insurance on an FHA loan?
Who is the FHA designed for?