FHA loans, which are government-insured mortgages offered by most lenders, can be a solution for your home financing issues if you have credit problems. However, FHA loan requirements have been tightened since the housing crisis and lenders require borrowers to prove that they can repay the loan. FHA lenders have various standards, so it pays to shop around and talk to several lenders even if you get turned down by one. Complete the form on this page to reach FHA lenders and find out if you qualify for a loan.

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Before you begin to shop for an FHA loan, you should follow these steps to improve your chances of an FHA loan approval:

FHA loan steps

1.Check your credit score. Review your credit on your own or with the help of a lender to see where you really stand. Some consumers are surprised that their credit is better or worse than they realized. Check your credit report for errors that may need correcting. FHA lenders generally require a score of 620 or 640 or higher for a loan approval.

2.Improve your credit profile. Begin immediately to pay your bills on time, bring your accounts up to date and take care of any collections. Try to pay down any credit card account balances to less than 25 percent of your credit limit.

3.Improve your debt-to-income ratio. You will need to have a maximum debt-to-income ratio of 43 percent or less. (Some lenders require that ratio to be under 41 percent.) If you can reduce your debt, increase your income or both, that will improve your chances of an FHA mortgage approval.

4.Save for a bigger down payment. While FHA loans require a down payment of 3.5 percent, if you make a larger down payment, your loan balance will be lower and so will your debt-to-income ratio, making it easier for you to qualify for a loan.

5.Consult several FHA lenders. Since FHA lenders vary in their willingness to lend to a risky borrower with poor credit, consult with several lenders to see if one will approve your loan. Even if you don't qualify immediately for an FHA loan, consulting with a lender can give you a good idea of what you can do to improve your credit profile so that you can qualify for a loan in the future.