To apply for an FHA loan, contact a local FHA lender and complete an application. It is necessary to provide the lender with documentation concerning income and employment before the application is processed. The application process may take several weeks or longer, depending on the lender and the ability to find a home within the buyer's price range.Continue Reading
Gather and update any required documentation before applying for an FHA loan. Typically, income tax records, military discharge forms, current mortgage documents and employment records are used to determine eligibility for an FHA loan.
Obtain a copy of the buyer's credit score from one of the three national credit reporting agencies, such as Equifax. If possible, pay any debts reflected on the credit report to improve the overall credit score. Credit counseling is often recommended to ensure the buyer is approved prior to applying for the loan.
It is necessary to apply for the loan through an approved FHA lender within the state of residence. Local FHA lenders can be located using the HUD website. After locating a lender, complete the application according to the specific instructions provided by the lender.