The basics
FHA's own guidelines allow a 3.5% down payment with a credit score of 580 or higher, and 10% down with a score from 500 to 579. Many lenders set higher minimums, so the score you need can vary. We'll tell you where you stand.
Credit is more than a score
We also look at:
- Your payment history, especially the last 12 months
- How much of your available credit you're using
- Any recent collections, bankruptcies, or foreclosures and how long ago they happened
- Your debt-to-income ratio (DTI), which compares your monthly debts to your income
Ways to strengthen your credit
- Pay every bill on time
- Pay down credit card balances
- Avoid opening new accounts before you buy
- Check your credit reports for errors and dispute any you find
Frequently asked questions
Can I get an FHA loan after a bankruptcy?
Often, yes, after a waiting period. We'll review your timeline.
Does checking my own credit lower my score?
No. Checking your own credit doesn't affect it.