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If you want to put just 3.5 percent down, the minimum credit score for an FHA loan is 580. You can qualify with a score as low as 500, but you’ll need to make at least a 10 percent down payment.
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 loans: FHA loans allow you to borrow money for a home purchase with a credit score as low as 580 and a down payment of just 3.5 percent — or a credit score of 500 if you put down 10 percent.
Credit score for FHA refinance. Credit score minimum: 580. You can refinance an FHA loan with the same minimum credit score you needed to get one: 580. However, if you qualify for an FHA ...
FHA loan: Insured by the Federal Housing Administration, FHA loans allow you to buy a home with a minimum credit score of 580 and as little as 3.5 percent down, or a credit score as low as 500 ...
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.
3.5% for FHA loans. Bethpage Federal Credit Union. 4.9/5. ... you can find your area’s loan limit here. Carry a credit score of at least 580 with a 3.5 percent down payment, or as low as 500 ...
FHA loans: Insured through the Federal Housing Administration, FHA loans have more lenient credit score and DTI ratio requirements than conventional mortgages. The minimum down payment is 3.5 percent.