Score Big FHA Loan Lender Low Down Payment Deal
How to Qualify for an FHA Loan
To qualify for an FHA loan, you need to meet certain criteria set by the FHA. These include a minimum credit score of 580 to qualify for the 3.5% down payment option. If your credit score is between 500 and 579, you may still qualify, but you'll need to make a 10% down payment2. Additionally, you must have a steady employment history, a valid Social Security number, and proof of U.S. citizenship or legal residency. The property you wish to purchase must also meet specific safety and security standards.