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Can I qualify for an FHA loan?

I am 24 and have been working for the state of Nevada for 3 years and have $7,000 saved up. My credit score sits at a 607, but might go up because I will be paying off my car loan in a week. I have no other debt. Looking to buy a foreclosed home but not sure if I will qualify for a FHA loan due to my age and credit score.
  • January 02 2011 - North Las Vegas
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Answers (3)

Hi MrTull,

That is great that you are 24 and wanting to buy some property and given the major pullback in Nevada, your money will certainly get you a lot more bang for your buck.  You can check out the following site regarding FHA information.  

http://www.fha.com/fha_loan_requirements.cfm

However, the easiest thing to do is contact a reputable lender who deals with FHA loans, go over your situation and they will be able to tell you whether or not you qualify and/or help to put you in the best possible position to get financing.  Best of luck!
  • January 02 2011
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You will need a 640 credit score for FHA but this is not the only factor in the whole scheme of it. Give me a call and i will help you, 910-875-0291 Nikki
  • January 02 2011
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Your age is not an issue, work on the credit scores. What is pulling your scores down, any 30 day lates in the last 12 months? FHA credit approval is not just based on your scores.
  • January 02 2011
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