Guides FHA Loans 101

FHA Loan Credit Score Requirements for 2019

Hal M. Bundrick, CFP
December 19, 2018

A credit score for an FHA loan must be at least 500. To qualify for the lowest down payment, it will need to be 580 or higher.

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FHA loans can be the long-sought answer for first-time home buyers with lower credit scores and low down payments. The question remains, though: Do you have a credit score that would qualify you for an FHA loan? Here’s what you need to know.

Lowest allowable credit score: 500

You must have a credit score of 500 or higher to qualify for a Federal Housing Administration loan. And even with that, you won’t get the full low-down-payment benefit that FHA borrowers with higher scores will.

Better credit score = lower down payment

With a credit score of 500 to 579, the minimum down payment on an FHA loan is 10%. But with a credit score of 580 or higher, the minimum down payment is just 3.5%.

Required scores can vary by lender

The credit score thing may seem pretty cut and dried, but hang on. These are the FHA's minimum requirements. Lenders may adopt stricter requirements, and often do, says Brian Sullivan, spokesman for the U.S. Department of Urban Development, which oversees the FHA. To make sure you get the best FHA mortgage rate and loan terms, shop more than one FHA-approved lender and compare.