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Homebuyers should already know they need to establish the best possible credit rating. FHA loans provide great assistance to many first-time homebuyers by offering mortgage loans with lower down payments.

FHA Loan Programs for 2022

The most recognized 3.5% down payment mortgage in the country. Affordable payments w/good credit.

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NOTICE: Some FHA mortgage lenders are substantially raising FICO score requirements during the Coronavirus crisis, even though FHA minimums remain unchanged.


- Improving Your Credit Score Has Never Been More Important -

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

FHA Credit and Your FHA Loan

Take the Steps to Review Your Credit

FHA Credit Score Requirements

FHA loan rules apply for all borrowers when it comes to basic minimum credit standards. The FHA loan requirements that will affect your transaction include FICO score rules, down payment requirements, and the basic terms of your mortgage.

You cannot be rejected for an FHA home loan on the basis of factors that have nothing to do with your financial qualifications, employment, income, being an owner/occupier, etc. A home may not be suitable for an FHA loan, a borrower may be denied the loan because he or she doesn't intend to live in the property as the primary residence, or because of factors that affect the economic life of the property.

Credit Requirements for FHA Loans

Credit Requirements for FHA Loans

FHA loans provide great assistance to many first-time homebuyers by offering mortgage loans with lower down payments. While this is a benefit for many people, recent changes in FHA Loan credit requirements may have put the loans just out of reach for some would-be homeowners with questionable credit history.




Benefits of Having Good Credit

Credit Requirements for FHA Loans

Homebuyers looking to take advantage of great FHA loan benefits should already know they need to establish the best possible credit rating. FHA loan applicants with a better credit rating increase their options for mortgage or refinance loans.

In order to qualify for the low 3.5% FHA loan down payment, applicants will need a FICO® score of at least 580. Those that don't meet that criteria will have to put a down payment of 10% on the mortgage they want.




Improving Your Credit

Improving Your Credit

If your credit is less than solid, consider delaying your home purchase and work on improving their credit scores. Applicants who have a minimum credit score of less than 500 are not eligible for FHA mortgages.

While FHA loans are a great option for people buying a house, applicants can make the process even easier if they take steps toward ensuring their credit history is in tip-top shape. FHA advises prospective homebuyers to approach the loan process with their best possible credit history to eliminate any potential risk of not qualifying.




Fixing Credit Report Errors

Fixing Credit Report Errors

Some borrowers who want to apply for an FHA loan find their applications held up by problems with what is on their credit report. Take proper steps to check the accuracy of your credit report with Experian®, TransUnion® and Equifax®.

Once you've gotten your report from the three bureaus, carefully examine your credit history for anything out of the ordinary, such as unauthorized loans taken out in your name, incorrect late payment records or anything that seems questionable, no matter how minor you think it is.




Identity Theft and Fraud in the News

Identity Theft Issues in the News

Now more than ever, it is crucial to pay close attention to your credit reports due to elevated security breaches, hacks, and security compromises. No major corporation is immune to these attacks-including the credit reporting agencies themselves.

We've listed a timeline of some of the most headline-grabbing hacks reported in recent years. Remember, these are only SOME of the incidents you may have heard about; each one is a good example of why it pays to continuously monitor your credit.




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FHA Loan Articles and Mortgage News

FHA Home Loan Questions and Answers: 5 Things to Know

May 10, 2022 - Buying a home involves many small details and first-time homebuyers often have to resort to checklists or other means to keep everything organized. What do you need to know at the start of your first home buying journey?

How to Compare Home Loan Offers

May 7, 2022 - Would you buy or rent the very first property you viewed in the house-hunting process? Few people would take the first property available without comparing it to others. Why would you treat the mortgage portion of your home ownership journey any differently?

Things to Consider Ahead of Your FHA Home Loan Application

May 5, 2022 - What do you need to consider in the planning stages of your FHA home loan? Some may not be sure how long it takes to save up for a down payment and closing costs, or what it takes to prepare credit ahead of a home loan.

Mortgage Planning: Beware Credit Score Drops

April 23, 2022 - A few simple things can happen that will hurt your credit scores before you apply for a home loan. These are not the only issues, but what we discuss below are some of the most common problems to anticipate. A late or missed payment can hurt your FICO scores.

FHA Loan Tips for First-Time Homebuyers

April 21, 2022 - If you are looking for a home loan that has no early payoff penalty and more flexible credit requirements, it’s smart to consider an FHA mortgage. These mortgages help you purchase a new home, a fixer-upper, or have a house built from the ground up on your own lot.