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UpdatedAugust 22, 2026ReviewedAugust 23, 2026Where our FHA figures come from
Borrower signing an FHA pre-approval application on a tablet beside house keys
FHA Pre-Approval

Get an FHA pre-approval letter based on a reviewed file.

A pre-approval letter you can submit with offers once a lender reviews your credit, income and assets — emailed back to you, typically within one business day.

  • Personalized rate & payment quote
  • Side-by-side FHA vs conventional comparison
  • Real DTI and max-purchase-price calculation
  • Direct line to a licensed loan officer (not a call center)

Tell us about your situation

A licensed loan officer responds within one business day.

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Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Step 1 of 2 — takes about 30 seconds. Step 2 is optional detail you can skip anytime by calling us.

Simply Approved Mortgages LLC | NMLS #2620881 — a mortgage broker, not a direct lender. Submitting this form is an inquiry only; it is not an application, quote, pre-approval, approval or commitment to lend. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. See our Privacy Notice.

Quick answer

How do you get pre-approved for an FHA loan?

FHA pre-qualification starts with a review of your credit, income, monthly debts, and savings; a licensed loan officer checks them against FHA credit, debt-to-income, and down payment rules and issues a pre-approval letter, with timing that depends on your documentation and lender review.

What this means for your mortgage

Five minutes and a quick review is usually enough to know your real price range before you tour a single home.

Reviewed by the licensed mortgage team at Simply Approved Mortgages · Last verified August 23, 2026 against HUD Handbook 4000.1

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TL;DR

FHA pre-qualification: key takeaways

  • Fast review to start — no obligation
  • Pre-approval letters are issued by the lender once a complete file is reviewed
  • 3.5% minimum down payment with a 580 FICO; 10% minimum between 500 and 579
  • Down payment assistance is reviewed on every file
  • Licensed in Colorado and Florida, NMLS #2620881
  • No application fee and no obligation to request a pre-approval letter

What happens after you submit

  1. 1
    Within 1 business day

    A licensed loan officer calls or emails you back with rate options.

  2. 2
    Next steps

    We review your credit and documentation and work toward a pre-approval letter; the lender makes the credit decision.

  3. 3
    When you find a home

    We hard-pull, lock the rate, order the appraisal, and close in 30–45 days.

Price a real FHA scenario

See live wholesale FHA pricing for your exact scenario — Florida and Colorado primary residences. Provider pricing only, never an estimate. Not a lock, approval or commitment to lend.

Open the FHA pricing tool

Prefer to talk to a person?

Call 877-813-7219 to speak with a licensed Simply Approved loan officer right now.

Start My ApprovalCall 877-813-7219

Quick answers

How long does pre-qualification take?
About five minutes online. A licensed loan officer follows up the same business day in most cases.
What is the difference between pre-qualified and pre-approved?
Pre-qualification is based on what you tell us; pre-approval adds a verified credit, income, and asset review and carries far more weight with sellers.
Will you check my credit?
Yes — a pre-approval includes a credit review, and we explain when any credit check happens before it does. Your loan officer walks you through it first.

Sources for this page

Program rules and figures on this page are taken from the primary government sources below, not from third-party summaries.

Simply Approved Mortgages is not affiliated with or endorsed by HUD, FHA, or any government agency.

Need help with the down payment? The FHA DPA can cover 2.5%, 3.5%, or 5% of your loan amount toward down payment and closing costs — a 10-year repayable second lien, FICO 580+, primary residence.

See DPA details
Weighing it up

Pros and cons of FHA financing

The trade-offs below are specific to FHA financing. Reviewed August 23, 2026 against HUD Handbook 4000.1 and the current HUD county loan limit file.

What works in your favor

  • 3.5% down from a 580 FICO, with 100% of the down payment giftable.
  • Seller contributions of up to 6% of the sale price toward closing costs.
  • No income caps, and higher DTI is possible with documented compensating factors.

What to plan around

  • Annual mortgage insurance for the life of the loan at 3.5% down.
  • County loan limits cap the financed amount, not the purchase price.
  • HUD minimum property standards apply at appraisal.
Worked example

The FHA numbers behind this page

A $425,000 example shows the cash and loan structure FHA produces before pricing is added.

The FHA numbers behind this page
Purchase price$425,000
FHA down payment at 3.5%$14,875
Base loan amount$410,125
Upfront MIP at 1.75%, financed$7,177
Conventional 20% down for comparison$85,000

Illustration only — not a quote, rate lock, offer or commitment to lend. Subject to lender underwriting and approval.

Document checklist

What documents you need for FHA financing

This is the set an FHA underwriter typically asks for. Having it ready before you write an offer is the single biggest difference between a two-week and a six-week file.

Identity and residency

  • Government-issued photo ID and Social Security number
  • Two-year residence history with landlord contact where you rented

Assets

  • Two months of statements for every account used for down payment or reserves
  • A signed gift letter plus the donor's source of funds for any gifted money
  • Retirement statements when reserves are drawn from those accounts

Property and credit

  • Fully executed purchase contract with all addenda
  • Homeowners insurance quote, plus flood coverage where required
  • Written explanation for credit events, plus bankruptcy or foreclosure paperwork if applicable
Income documentation

Self-employed vs. W-2 employed: what it means for your FHA loan

Income documentation is where most FHA files slow down, and it depends on how you are paid. FHA does not apply a different credit score, down payment or county limit to self-employed borrowers — it applies a different documentation standard.

FHA documentation differences between W-2 employed and self-employed borrowers
ItemW-2 employedSelf-employed
History requiredTwo-year employment history, with gaps explained. A job change inside the same field is usually fine.Generally two years of self-employment. A shorter history can sometimes be considered when there is documented prior experience in the same line of work.
How income is calculatedBase pay from pay stubs and W-2s. Bonus, overtime and commission generally need a two-year history to be averaged in.Net income from tax returns, averaged and adjusted for allowable add-backs such as depreciation. Write-offs that reduce taxable income also reduce qualifying income.
Documents that open the file30 days of pay stubs, two years of W-2s, and a verification of employment.Two years of personal and business returns, year-to-date P&L and balance sheet, and evidence the business is still operating.
Verification at closingThe employer is re-verified shortly before closing; do not change jobs mid-process without telling your loan officer.Continued existence of the business is re-verified close to closing, typically through a third-party or licensing check.
Most common delayUnexplained gaps, a new job with variable pay, or a VOE the employer never returns.A declining year over year, or a large deduction that removes the very income needed to qualify.
What we suggestGet the VOE moving on day one — it is the item most often outstanding at the end.Have your accountant produce the year-to-date P&L before you shop, so qualifying income is known before you write an offer.

If you are W-2 employed

  • Pay stubs covering the most recent 30 days
  • W-2 forms for the last two years
  • A verification of employment; HUD Handbook 4000.1 Update 18 tightened the written and electronic VOE rules, so expect the employer record to be verified directly
  • Documentation of bonus, overtime or commission income if you want it counted

If you are self-employed

  • Two years of personal federal tax returns, all schedules
  • Two years of business returns for a partnership, S-corp or C-corp, plus K-1s
  • A year-to-date profit and loss statement and balance sheet
  • Business license, CPA letter or equivalent evidence the business is active

General FHA documentation guidance per HUD Handbook 4000.1, including Update 18 changes to written and electronic verification of employment. Requirements vary by borrower, property, lender and program, and all loans are subject to lender underwriting and approval. Sources: HUD Handbook 4000.1

Simply Approved Mortgages Expert Insight
Process commentary · Last reviewed August 23, 2026

Pre-qualification is a conversation, not a commitment

Starting the conversation does not obligate a borrower to anything. What it does produce is a realistic price range and a clear list of what underwriting will need, which is what makes an offer credible when the right home appears. We explain any credit review before it happens.

Our recommendation

Start early — a documented pre-approval is what makes your offer competitive.

Simply Approved Mortgages · licensed mortgage broker · NMLS #2620881 · Equal Housing Opportunity

Where to go next

Continue with the FHA topic that matches where you are, or talk to a licensed loan officer about your own numbers.

How FHA loans work

What FHA insurance is and who it fits.

FHA requirements

Credit, income, DTI and property rules.

FHA credit score rules

580 vs 500–579 and what they change.

Down payment & assistance

3.5% minimum, gift funds and DPA options.

Mortgage insurance (MIP)

Upfront and annual MIP, and how long it lasts.

FHA loan limits

County-by-county HUD maximums.

FHA closing costs

What you pay and what a seller can cover.

FHA loan programs

203(b), 203(k), streamline, cash-out and more.

FHA calculators

Payment, affordability, MIP and break-even tools.

First-time buyer guide

Step-by-step from budget to closing.

Start My Approval Contact a licensed loan officer Submitting a request is not an application, approval or commitment to lend.
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