fha loans are approved under the most flexible rules ever. These loans should be easy to obtain considering the leniency. You, as a borrower, would need to have ample income that is thought of by the FHA to be enough to pay the loan back. Regarding credit, they look at bankruptcy, repossession, late payments, no credit, etc. If your bad credit issues are for acceptable reasons, you can still be approved. Approval of FHA loans is also helped by some compensating agents. If you want an energy efficient home, you are more likely to get a loan. If you make a larger down payment, you are also more likely to get a loan. You will need acceptable sources for closing funds—such as, gift funds, checking and savings account funds, or earnest money.