FHA loans have been helping people become homeowners since 1934. For borrowers interested in buying a home with an FHA loan with the low down payment amount of 3.5%, applicants must have a minimum FICO score of 580 to qualify. However, having a credit score that’s lower than 580 doesn’t necessarily exclude you from FHA loan eligibility. You just need to have a minimum down payment of 10%.
Get no-obligation mortgage pre-approval for FHA or conventional loans online in about 10 minutes or less.