Like all mortgages, FHA-backed loans have a number of minimum. The FHA program allows borrowers to have pretty low credit scores,
When exploring mortgage. credit score, FHA sets a low bar: a FICO of 500 or above. Lenders can set “overlays” on top of that credit score requirement, hiking the minimum much higher. But to qualify.
Bad Credit Home Loans Texas Minimum Requirements For Fha Home Loan What Percent Down For fha loan fha loans require low down payments – typically only 3.5 percent – and low closing costs, many of which can be included in the loan. The FHA also offers loans that allow you to purchase a home in need of repairs and to roll the cost of the fixes into the primary mortgage loan.