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Is there any minimum score required to get a FHA home loan?

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Is there any minimum score required to get a FHA home loan?




Hi!

The updated FHA rule says You'll need a credit score of at least 580 to qualify for the home loan. If your credit score lies between 500 to 579, you can still get a home loan but you have to make a 10% down payment.

Sub: #1 posted on Tue, 10/20/2020 - 03:49

Ryan Miller Ryan Miller

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FHA home loan is a good option when your credit score is as low as 580. You will not qualify for private mortgage loans with this credit score. Do not worry about the down payment. You can apply for grants to make the required down payment. However, if you can pull up your credit score to above 580, then you have to make only 3.5% down payment.

Sub: #2 posted on Sun, 10/25/2020 - 22:39

David Martin David Martin

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Hi lilliam! Well, as Ryan Miller said, you'll need a credit score of at least 580 to qualify for the FHA loan. However, if you don't have a good credit score, read this https://www.debtconsolidationcare.com/blog/is-800-above-c redit-score-goo.... It will help you to boost your credit score.

Sub: #3 posted on Sun, 11/01/2020 - 21:18

Craigh.terry Craigh.terry

(Posts: 265 | Credits: )

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