• What if I have lates on my credit?

  It depends on how many and what for, but FHA was designed to offer good people a second chance.

   

• Can I get an FHA loan if I am not a first time home buyer?

Yes. FHA financing is available even if this isn't your first home. In fact, you can own several properties and still get an FHA loan.

 

• Can I have a co-signer that will not be living in the home with me?

Yes. A family member can cosign for you even if they own their own home and even if they have an FHA mortgage themselves.

 

• How much money do I need to buy a home with an FHA mortgage?

You put down at least 3% (of the purchase price) of your own money. The great news is that the 3% can be a gift from a family member, plus you can negotiate with the seller to pay for up 6% of the closing costs (which typically will cover all of the costs).