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FHA Loan

Apply online and get pre-approved and pre-qualified for a NASB FHA home loan with the best interest rates available to help you get you into your dream home.

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Key Features

Credit requirements not as stringent as conventional loans

FHA loans require only a 3.5% down payment

Friendlier debt ratios than other loans

We help make home buying easier with great FHA loan rates.

An FHA loan is one of the best mortgage solutions for the credit-challenged and first time home buyer. FHA loan guidelines were created to help those with difficulty getting conventional loans, with lower credit score requirements, plus a low 3.5% down payment option. As long as you meet the minimum credit score, debt-to-income ratio, and other necessary eligibility requirements, you could be FHA pre-approved and pre-qualified with great FHA loan rates and on your way to home ownership. Earning the privilege to lend FHA loans is a responsibility we take seriously. That's why as an FHA-approved bank, we adhere to a high level of lending standards.

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FHA Loan Guidelines & Requirements

  • You must have a valid Social Security number and be a legal resident of the United States
  • You'll need to have steady employment history
  • FHA loans are only available for a primary residence
  • The property must be appraised by a FHA-approved appraiser and needs to meet certain standards
  • The front-end ratio (mortgage payment plus homeowners association fees, property taxes, mortgage insurance, home insurance) will need to be less than 31% of your gross monthly income
  • Monthly debts (credit card payments, car payment, student loans, etc.) need to be less than 43% of gross monthly income
  • Prior foreclosures need to be season over 36 months and you need to have re-established good credit
  • Prior Chapter 7 Bankruptcies need to be seasoned over 24 months since the discharge date
  • Prior Chapter 13 Bankruptcy – FHA allows to be not discharged as long as they have satisfactorily made 12 months of payments of the payout period


A mortgage loan that's insured by the Federal Housing Administration (FHA). Here's a blog that explains more.
Typically, you can qualify for these loans with a 3.5% down payment. The mortgage insurance percentage on FHA loans tend to be higher than for non-FHA mortgage types. For some borrowers, this is more manageable since the insurance payments are spread out, and the upfront costs can be lower.
Because the loan is guaranteed by the FHA, low to moderate income families can qualify for home loans without the strict financial restrictions other loan types impose.
To pre-qualify for an FHA loan, you'll need:

1. Verifiable income.
2. Ability to afford the housing payment and any existing debt.
3. Have at least 3.5% for a down payment.
4. Have an established credit history. 
6. Find a home that doesn't exceed FHA loan limits.
7. Begin the application process.

Here's a blog that has more information.

Documentation you may need for an FHA  conventional loan includes but is not limited to the following:

  • Two years full tax returns if self-emloyed - all pages and all schedules
  • Two years W2s
  • Two most recent pay stubs with year-to-date pay
  • Two most recent asset statements - all pages with full transaction history
  • Copy of your mortgage statement if you currently own
  • Bankruptcy and discharge papers (if applicable)
  • Copy of Drivers License

Click here for additional FHA loan FAQs

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Want to learn more about the mortgage process at NASB?

FHA Loan Featured Blogs

FHA Loan Borrower Resources

VIdeo -Choosing the Right Loan


Additional Resources


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Mohit M., May 25, 2021
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