Changes are coming as of 9/14/15 to the current FHA guidelines.
Here is a snip of some of the bullets points:
1) Student loan payments will be calculated even in deferment
2) Some refinances allow to finance closing costs
3) Non-taxable income can only be grossed up 15%
4) 100 mile rule applies to departing residences
5) Payments on an authorized user credit account will be counted unless payment history is provided
6) Streamline refinances do not need an appraisal
7) Some derog credit will downgrade a file to a “manual” underwrite and additional guidelines apply
8) SE clients with declining income will have challenges and income calcs will be looked at different
9) Additional items needed with job offer letter
10) A cousin is no longer considered a family member per FHA
If you would like more in depth information, contact me I will go over it with you.