• Credit Score Requirements
    Learn About FHA Loans

    Step 1 of 2


Credit Scores and FHA Loans

Borrowers applying for a FHA insured loan must have at least a 580 middle FICO score. Compared to any other loan program, FHA is easier to qualify for, credit wise. Although FHA states that the minimum middle credit score requirement is 580, there are some restrictions to this such as, sales price or loan amount, down payment, alternative trade lines, etc.  Ideally, a borrower with a middle FICO score of 640 and above gets a better interest rate. There will also be no restrictions or very little overlay that a lender can impose on the loan if the borrower’s credit score is at least at 640. Needless to say, borrowers with credit scores less than 640 are not excluded in getting a FHA insured loan. On the contrary, they qualify for a FHA loan with a FICO score as low as 580 and therefore encouraged to apply.

What is an FHA Home Mortgage Loan?

“FHA loans” are mortgages insured by the Federal Housing Administration...

Read more

How to Qualify for an FHA Mortgage

FHA Approved Lenders make it simple to qualify online for an...

Read more

Guidelines and Requirements for an FHA Mortgage Loan

Mortgage insurance, lending limits, debt to income ratios, credit...

Read more

FHA Loans for First Time Home Buyers

FHA Loans are often marketed as a product for “first-time...

Read more

Credit Score Requirements for FHA Loans

FHA requirements for credit scores are far lower than for conventional...

Read more

FHA vs. Conventional Home Loans

Learn the differences between conventional and FHA loans before...

Read more

All About FHA 203k Loans

The Federal Housing Administration, otherwise known as the FHA,...

Read more