FHA Loan Requirements in 2018: How to Qualify for an FHA Loan. – The better prepared you are for your FHA loan application, the easier the process will be. They also have lower down payment requirements, and the FHA allows the down payment money to come from gifts. Lenders, not the FHA, set mortgage rates on FHA loans, but the rates are usually competitive.
· The requirements to get an FHA loan for a condo are strict. The complex itself needs to be FHA approved. Here’s why and what you can do about it.