But it's important to remember that an FHA loan could still be rejected in underwriting, even if you've been pre-approved already. While it doesn't happen often, this is a realistic scenario that can affect some borrowers.Aug 26, 2021
What are red flags for underwriters?
Red-flag issues for mortgage underwriters include: Bounced checks or NSFs (Non-Sufficient Funds charges) Large deposits without a clearly documented source. Monthly payments to an individual or non-disclosed credit account.Feb 8, 2021
Can I use future rental income to qualify for a FHA mortgage?
FHA Rental Income for the Home You Plan to Purchase If the subject property is going to have rental income, you can use that future income to qualify for an FHA loan.
How long do you have to live in FHA home before selling?
How long before you can sell your home purchased with an FHA mortgage? The answer is really, whenever you have the need. But depending on circumstances you may find your ability to sell is more limited in the first 90 days of ownership.