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FHA advises prospective home buyers to approach FHA loans with their best possible credit history to eliminate any potential risk of not qualifying.

FHA Rates Near 50 Year Low!

Now is the time to drop the interest rate on your 30-year mortgage or refinance into a 15-year home loan.

FHA Rates for December 1, 2020
Are You Watching Your Credit Score?

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 Loan Tips for Improving Credit

Track Your Credit Score and Stay on Top of Problems

FICO Scores Influence How Much FHA Down Payment Is Required

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

Whether you're looking for a loan to mortgage a new house or to refinance a house you already own, it makes the most sense open up all your options with an optimal credit rating. The FHA recommends having a satisfactory payment history of at least one year before applying for a loan.

Credit Tips for Your FHA Loan

Here are some tips to help you on your way:

  • Take a Close Look at Your Credit Reports
    You don't know what could be hurting your credit score unless you actually check. Get your credit reports from the three national credit bureaus--Experian, Equifax and TransUnion--at no cost and comb them over for anything suspicious or questionable.
  • Dispute Inaccuracies
    If you find errors on your credit report, notify the reporting bureau in writing so you have a record. Provide any additional records or evidence you have to support your dispute.
  • Find Professional Help
    The FHA recommends applicants with credit problems get help from a Consumer Credit Counseling program. A credit counselor can help you get back on track.
  • Bankruptcy / Foreclosure
    If you've suffered from a bankruptcy or foreclosure in the past few years, you might still be able to qualify for an FHA loan. Develop a satisfactory payment history, re-establish good credit and meet the other FHA requirements.

While your credit history is just one of the many factors that make up your eligibility for an FHA loan, it is no doubt one of the most important. Having a higher score not only helps you qualify, you can also benefit from the low 3.5 percent down payment on mortgage loans available to applicants with a FICO score over 580. FHA approved lenders don't take your credit history lightly, and neither should you.

Credit Scores for FHA Loans

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FHA Loan Articles and Mortgage News

FHA Mortgage Relief: Do You Need Cash-Out Refinancing?

November 16, 2020 - A lot of borrowers are worried about their ability to pay the mortgage during the global coronavirus emergency. Some aren’t as worried about being able to pay, but see record low interest rates and wonder if they should refinance. Should they consider a cash-out refinance loan?

Why Should I Pay for Credit Monitoring?

November 14, 2020 - The major credit reporting agencies, major credit card companies, and even the federal government have all been digitally attacked, hacked, and compromised and as a result many entities are offering consumers free credit reports and advice.

Credit Monitoring Is an Important Consumer Tool

November 11, 2020 - Having a credit monitoring service watching your credit report is an extremely useful tool for those who are in the planning stages of a mortgage loan. You’ll want to know if there are issues appearing in your credit report that could stop or even cancel your home loan.

Resources You'll Need When Buying a Home

November 7, 2020 - Are you considering buying a new home this year? There are some important resources you should know before you fill out home loan paperwork. It doesn't hurt to learn about credit monitoring, down payment assistance, mortgage calculators, FHA loan limits, and closing costs.

Does Shopping Around for an FHA Lender Hurt My Credit Score?

November 5, 2020 - If you want to buy a home with an FHA mortgage, or refinance an existing home loan with an FHA refinance loan, you don’t have to use your current lender. You can shop around for a lender no matter if you are buying or building a home or trying to refinance.