What is the lowest credit score FHA approves for a first time buy?

620 is possible and even less depending on where you live and your overall credit payment history. Most lenders are looking for a 640. I could help bring your score up to get better pricing. Let's talk offline! Thank you!

I have a new pre-approval letter out for borrowers with a 589 mid fico score and 602 mid fico score. We are our ownmortgage bank and like to do the more challenging lower credit score FHA loans that most banks do not wish to do.We meet all the FHA requirements but score borrower's strengths differently, with the credit score being no. 5 onour list of criteria. Sometimes I am amazed more people do not come to us when they so desire to buy a home but havecredit scores that are still a little on the low size though they have been good credit risks for some months now!You can request information through submission at my website....www.larrygraymortgage.com

You May be able to get a 5-10% down program- My suggestion is work on your credit to get your credit scores above 620-640 to getbetter pricing - Hope that helps,Good Luck,Pete

Yes, you can get a FHA loan with a 612 score. You may need to call around a bit. Good luck!

I need a 620To better help you, I would like to see your financial situation.Please send me the following information for all borrowers:1. 1 Month of current pay stub's2. 2 Year W-2 Income Statements3. 2 Year 1040 Federal Tax Returns4. 2 Year Business Tax Returns (if a business)5. 3 Months of current Bank Statements6. Copy of Drivers Licenses Please forward them to:James Mazzola8 Matthew AvenueKendall Park, NJ 08824jmazzola@sunnm.com or cornoil@comcast.netIf you have any questions, please do not hesitate to contact me:(O) 973-805-4107(C) 732-501-4249(F) 732-951-0629Thank you,James Mazzola

Possible; see lender comments on this forum.

You are certain to find a lender to say yes to your scenario; however, you should work with a mortgage planner who can give you some quick tips to increase your score to make you a better candidate. Sometimes all it takes is a little tweaking of your outstanding balances on your credit cards. Good luck!

640 offers better pricing on high balance FHA. With a 612 you're pretty close. Might be worth a conversation to see what could bring up your scores quickly vs. going with a sub par loan program with a higher rate (if you even find one for FHA high balance). Once you're at 640, 3.5% down payment is the norm.

As far as HUD is concerned, a 612 FICO score enables you tou purchase a home with 3.5% down