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Key takeaways. FHA loans require a minimum 3.5 percent down payment for borrowers with a credit score of 580 or more. Borrowers with a credit score of 500 to 579 need to put 10 percent down.
Down Payment Resource: Down Payment Resource, a private company, provides various resources for homebuyers, real estate agents and lenders, including an eligibility and assistance lookup tool. FAQ
Credit score minimum. 620. 580 with a 3.5% down payment or as low as 500 with at least 10% down. Down payment minimum. 3% for fixed-rate loans; 5% for adjustable-rate loans
FHA loan: 3.5 percent down payment For a Federal Housing Administration (FHA) loan, the minimum down payment is 3.5 percent with a credit score of at least 580.
On October 31, 2007, the Department of Housing and Urban Development adopted new regulations to ban so-called "seller-funded" down payment programs. The new regulations state that all organizations providing down payment assistance reimbursed by the property seller "before, during, or after" that sale must cease providing grants on FHA loans by ...
FHA loans – Insured by the Federal Housing Administration (FHA), FHA loans allow borrowers to put down just 3.5 percent with a credit score of 580 or higher, or at least 10 percent with a score ...
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related to: fha funding fee with 5% down payment assistance list of homes availableHighest Satisfaction for Mortgage Origination, 2010-2017 - J.D. Power