Mortgage guides
Plain-English answers grounded in the official agency guidelines. Have a specific question? Ask MortgageBot.
FHA loans
FHA Loan RequirementsLearn the key FHA loan requirements for credit, occupancy, borrower eligibility, tax debt, and property standa…FHA Minimum Credit Score Requirements ExplainedLearn the FHA minimum credit score rules for different down payment options. Understand eligibility at 580, 50…FHA Mortgage Insurance (MIP) ExplainedLearn how FHA mortgage insurance works, including upfront and monthly MIP requirements, financing options, and…FHA 203(k) Rehab Loan: Finance Purchase and Repairs TogetherLearn how the FHA 203(k) rehab loan lets you finance both a home purchase and necessary repairs in one mortgag…FHA Debt-to-Income Ratio LimitsLearn FHA debt-to-income ratio limits for manual underwriting, including qualifying ratios by credit score, co…FHA Loan After Bankruptcy or ForeclosureLearn FHA loan rules after bankruptcy or foreclosure based on HUD guidelines. Discover waiting periods, except…FHA Streamline Refinance ExplainedLearn how an FHA streamline refinance works, including credit and non-credit qualifying options, payment histo…FHA Cash-Out Refinance: How It Works and What to KnowLearn how FHA cash-out refinances work, including eligibility, LTV limits, documentation, and payment history …Reverse Mortgages (HECM) ExplainedLearn how FHA-insured HECM reverse mortgages work for homeowners 62 and older. Understand eligibility, counsel…
VA loans
VA Loan RequirementsExplore VA loan requirements including eligibility, the Certificate of Eligibility, entitlement, and occupancy…VA Funding Fee and Exemptions ExplainedLearn how the VA funding fee works, who qualifies for exemptions, and the lender verification process. Clear g…VA Cash-Out RefinanceLearn how a VA cash-out refinance works, including Type I and Type II rules, interest rate requirements, occup…VA IRRRL (Interest Rate Reduction Refinance Loan) ExplainedLearn how a VA IRRRL works to refinance an existing VA loan at a lower rate with minimal requirements. Get the…VA Residual Income and DTI: Key Factors in Loan ApprovalLearn how VA residual income works alongside DTI ratios for loan approval. Understand family size calculations…
Conventional, Fannie Mae & Freddie Mac
Conventional Loan RequirementsLearn the key conventional loan requirements including credit scores, DTI ratios, property eligibility, and mo…Fannie Mae vs Freddie Mac Loans: Key DifferencesLearn how Fannie Mae and Freddie Mac loans work, their similarities, and what sets their guidelines apart. Cle…2026 Conforming Loan LimitsLearn the official 2026 conforming loan limits for conventional mortgages, including baseline amounts, high-co…Debt-to-Income Ratio for Conventional LoansLearn how the debt-to-income ratio works for conventional loans under Fannie Mae guidelines, including maximum…Using Gift Funds for a Down PaymentLearn how gift funds work for a down payment under Fannie Mae and FHA guidelines, including acceptable donors,…Private Mortgage Insurance (PMI) on Conventional LoansLearn how private mortgage insurance works on conventional loans, including premium options, LTV requirements,…HomeReady and Home Possible Low Down Payment LoansExplore Fannie Mae HomeReady and Freddie Mac Home Possible mortgages that support low down payments for princi…Getting a Mortgage When You're Self-EmployedLearn how self-employed borrowers can qualify for a mortgage. Discover FHA, Fannie Mae and Freddie Mac guideli…How Student Loans Affect Mortgage QualifyingLearn how student loans factor into mortgage approval through DTI ratios under Fannie Mae, Freddie Mac, and FH…Non-Occupant Co-Borrowers: What Homebuyers Need to KnowLearn how non-occupant co-borrowers work on mortgage applications, including Fannie Mae and FHA rules, income …Understanding Mortgage Reserve RequirementsLearn what mortgage reserve requirements are, how Fannie Mae calculates them for different property types, and…Conventional Cash-Out Refinance: What Homeowners Need to KnowLearn how a conventional cash-out refinance works, eligibility basics, acceptable uses, and key differences fr…Rate-and-Term (Limited Cash-Out) Refinance ExplainedLearn how a rate-and-term refinance works to replace your current mortgage with a new one that pays off existi…Investment Property Mortgages and Rental IncomeLearn how rental income from investment properties is documented and calculated for mortgage qualification und…Second Home Mortgage RequirementsLearn the key second home mortgage requirements from Fannie Mae and Freddie Mac guidelines, including occupanc…Condo Mortgage RequirementsLearn the key condo mortgage requirements for Fannie Mae, Freddie Mac, and FHA financing. Discover project rev…Manufactured Home Mortgages ExplainedLearn how manufactured home mortgages work under Fannie Mae and FHA guidelines, including eligibility, titling…First-Time Home Buyer GuidePractical first-time home buyer guide covering preparation, homeownership education requirements, credit consi…Credit Scores for a Mortgage (and How to Improve Yours)Understand how credit scores influence mortgage approval across programs and learn practical steps to strength…Mortgage Closing Costs ExplainedLearn what mortgage closing costs include, who typically pays them, and how interested party contributions can…Seller Concessions and Interested Party Contribution LimitsLearn how seller concessions and interested party contributions work under FHA, VA, Fannie Mae, and Freddie Ma…Conventional Loan Waiting Periods After Bankruptcy or ForeclosureLearn Fannie Mae and Freddie Mac guidelines on conventional loan waiting periods after bankruptcy or foreclosu…HELOC: Home Equity Line of CreditLearn how a HELOC works as a flexible home equity line of credit, how lenders calculate HCLTV and CLTV ratios,…Mortgages for Foreign NationalsLearn how foreign nationals who are lawful permanent or nonpermanent residents can qualify for mortgages on th…
DSCR, Non-QM & other programs
DSCR Loans for Real Estate InvestorsExplore how DSCR loans let real estate investors qualify based on rental income rather than personal wages. Le…Bank Statement Loans (Non-QM) for Self-Employed BorrowersBank statement loans let self-employed borrowers qualify using deposit history instead of tax returns. Learn h…ITIN MortgagesITIN mortgages let borrowers without a Social Security number pursue homeownership. Learn how these programs w…