fha-loan-qualification-quiz

FHA Loan Qualification Quiz

by Antonie GiordanoPublished: March 29, 2026

Understanding the ins and outs of FHA loan qualifications can significantly impact your home-buying journey. This quiz is designed to help you grasp the essential elements of FHA loans, from eligibility requirements to the benefits they offer. Dive in and see how much you know about securing an FHA loan!
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FHA Loan Qualification Quiz
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1. What does FHA stand for?
Hint: It’s a government agency.

FHA Loan Qualification Quiz Questions Overview

1. What does FHA stand for?

Federal Housing Administration
Federal Homeowners Association
Federal Housing Agency
Federal Homeowners Administration

2. What is the minimum credit score required to qualify for an FHA loan with a 3.5% down payment?

500
580
620
700

3. What is the typical down payment requirement for an FHA loan?

3.5%
5%
10%
20%

4. Which of the following is NOT a requirement for an FHA loan?

A minimum credit score
Proof of steady employment
A debt-to-income ratio below 43%
A maximum income limit

5. What is the purpose of mortgage insurance on an FHA loan?

To protect the borrower
To protect the lender
To increase the loan amount
To reduce the interest rate

6. How long must a borrower wait after a bankruptcy to qualify for an FHA loan?

1 year
2 years
3 years
5 years

7. What is the maximum loan-to-value (LTV) ratio for an FHA loan?

80%
85%
90%
96.5%

8. Which type of property is eligible for an FHA loan?

Primary residence
Vacation home
Investment property
Commercial property

9. What is the maximum debt-to-income (DTI) ratio allowed for an FHA loan?

31%
43%
50%
55%

10. How long does FHA mortgage insurance typically last?

5 years
10 years
15 years
For the life of the loan

11. What is the upfront mortgage insurance premium (UFMIP) for an FHA loan?

0.5%
1.75%
2.5%
3%

12. Can FHA loans be used for refinancing?

Yes
No
Only for cash-out refinancing
Only for rate-and-term refinancing
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