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.

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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

Answers to Five Important FHA Loan Questions

June 6, 2024 - New borrowers have many questions about how the FHA loan process works. Whether you’re in the planning and saving stages of the loan or are ready to make an offer on a house, there are some important answers to get along the way to make the most informed decision.

Is Your Home in a Federal Disaster Area?

June 5, 2024 - If you have an FHA loan on a home that has been affected by a natural disaster in a federal disaster area, there are important options for you to know about. You should know more about the options below when trying to settle insurance claims.

Home Loan Interest Rate Tips

June 3, 2024 - An article published by Forbes Advisor notes various home loan interest rate predictions. Some of them might surprise you. Others might not. In general, the feeling among industry pros is that rates aren’t going to take a nosedive anytime soon.

What Affects Your Home Loan Application Before Closing Day?

June 2, 2024 - Once your home loan application is approved, it’s tempting to think you are “bulletproof” on the way to closing day, and nothing can stop your FHA loan now.  But there are some factors to be mindful of before closing day.

Avoiding Confusion with Your FHA Home Loan

June 1, 2024 - An FHA loan is intended for those who want to buy a house they will live in. It cannot be used for an investment property, which is a house the borrower purchases but does not live in, typically renting it out to others.