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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.
An FHA loan offers financing to buy a home with a low credit score, as little as a 3.5 percent down payment and a cap on closing costs. ... While the hard cutoff for approval of an FHA loan is a ...
FHA loans have a low minimum credit score and down payment requirement, which makes them especially popular with first-time homebuyers. You can get an FHA loan with a credit score as low as 580 if ...
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.
The Federal Housing Administration (FHA) insures FHA loans, which allows mortgage lenders to accept a credit score as low as 580 with a 3.5 percent down payment, or 500 with a 10 percent down payment.
3.5% for FHA loans. Bethpage Federal Credit Union. ... 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 with a 10 ...
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