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Things You'll Need

Driver's License and/or Permanent Resident Alien Card

Necessary Documentation

Gather together the most recent two months of bank statements, pay stubs and any other assets you may have including pension plans. You must have a valid social security number, driver's license and/or a valid and up-to-date Permanent Resident Alien card, if applicable. Your lender will need to make copies of these.

You will need at least two years of W2's and may even be required to submit income tax returns. If you do not have these available, contact your local IRS office who can mail you transcripts of these documents.

If applicable, have divorces papers, settlement agreements and child support orders ready. The lender will require copies of all of these documents, which are needed to calculate your debt to income ratio.

Although excellent credit is not a mandatory factor of an FHA loan, it is still wise to make any credit repairs in advance to applying for an FHA loan. This will help the accelerate the process.

When you have gathered all of this documentation, you are ready to apply for an FHA loan with an FHA approved lender.