Current Interest Rate Fha Loan Fha Inspection Checklist Mn Fha Loans Pre Approval If you are applying for a FHA loan, this may not be needed. An fha pre-approved mortgage usually needs just a 3.5% down payment. On a conventional loan, expect 10-20% down. If you get a gift from a friend or relative to pay the down payment, you only need a letter that states it is a gift, rather than a loan.Inspection Checklist U.S. Department of Housing OMB A pr oval N . 25 7-0169 and urban development (exp. 04/30/2018) housing choice voucher program office of Public and indian housing public reporting burden for this collection of information is estimated to average 0.50 hours per response, including the time for reviewing instructions,