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Know Your FICO Score: Applicants who fall below the 580 score will have to put down a 10 percent down payment in order to qualify for an FHA mortgage loan.

FHA Loan Programs for 2023

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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.


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

Identify and Fix Credit Report Errors

Things to Do Before Applying for an FHA Loan

Identify and Fix Credit Report Errors

When the Federal Housing Administration announced rule changes to help strengthen finances and protect against risk, one of the biggest changes was requiring a minimum FICO score of 580 to qualify for the attractive 3.5 percent down payment on mortgage loans.

Know Your FICO Score

Applicants who fall below the 580 score will have to put down a 10 percent down payment in order to qualify for an FHA mortgage loan. For many applicants hovering just below that threshold, this policy change may serve as a great opportunity to take close look at their credit report and improve it.

The FICO score is actually comprised of your credit scores from the three national credit bureaus--Experian, TransUnion and Equifax. If your FICO score is just below the FHA limit, you should take the proper steps to check your credit report with the three agencies.

How to Check Your Credit Report

There are many ways people can check their credit scores. There are many online resources for people wishing to identify where they stand with lenders. 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.

While your credit reports and credit score are what lenders use to judge your reliability in paying back loans, errors in your reports can happen. Make sure they aren't hindering you and your life's plans.

Correct Errors as Soon as Possible

The longer you wait to correct your credit history, the more potential damage errors can do. Prevention is key, so if you don't use a credit monitoring service, you should consider one. If you do find any errors, send a letter to the bureau that reported it and clarify with them why you think it is incorrect. Be sure to provide proof and any other documentation that will help your claim.

If you're already in the process of applying for an FHA loan, notify your lender of your dispute with your credit report as well because your credit score indicates your creditworthiness. It never makes sense to suffer at disadvantages that were the result of something you didn't do.

Credit Scores for FHA Loans

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FHA Loan Articles and Mortgage News

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December 20, 2022 - FHA loan limits increase for the third year in a row in 2023. More borrowing power means the ability to buy a bigger home for some, for others it may mean the ability to add improvements or upgrades rather than a larger property.

Home Loan Denials and Debt Ratios

December 18, 2022 - There are many mortgage industry trends to pay attention to when you are in the planning stages of buying a home with an FHA mortgage. Interest rates, house prices, the cost of third-party services like appraisals and home inspections. There is a lot to keep track of.

Home Equity Trends at the End of 2022

December 15, 2022 - The Fed’s actions to raise interest rates have had an indirect effect on the housing market (the Fed sets the rates on federal loan funds, not mortgage loans directly) and conditions have started to cool to the point where mortgage rates have actually dropped in December with demand also slowing.