What credit score is necessary to qualify for the lowest down payment option for an FHA loan?
Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions
Most lenders are at 620-640 however there are programs out there down to 580. Contact a local broker that can help you in Vermont.
Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions
Our min Credit score is 640
Brett Bostwick (BrettBostwick)
#2 ranked lender in Vermont - 3 contributions
It varies by lender but the minimum credit score my company can do is is 620. I am a local broker that would be glad to assist you.
Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions
FHA allows 3.5% down with a 580 or better mid credit-score. Most lenders will not make loans with this score but some will. Each lender determines the minimum score they will accept so if you are being turned away keep shopping your local lenders. Concentrate on private mortgage banks (not affiliated with depository banks) and independent mortgage brokers in your area. You can search for them via the 'find a lender' tab above. Best wishes!
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions
580
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