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what is the min credit score for getting approved for the FHA loan?

  • June 24 2010 - Conneaut
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Answers (6)

The correct answer to this question is that there is no minimum credit score for FHA.  It is underwriter's discretion based upon all compensating factors if under 600 for us at Bank of America or whatever other lender's low score target is.

  • July 14 2010
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620 is the going rate for a typical FHA Loan
  • July 14 2010
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You can do a FHA purchase at a 580 middle credit score if you have 12 months of documented(canceled checks) rental history.  The rate will be awful(6%++), but you should be able to refinance for a better rate after 12 months of on time mortgage payments.  Check to see if any of your local brokers use a lender called American Financial Resources(AFR).

Paul
  • July 14 2010
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some lender will still go as low as 580 but it really depends on your over all credit.
  • June 24 2010
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I have 600. But aside from credit score, underwriters look at the content of the credit report.
  • June 24 2010
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Most lenders require a score of 620.
  • June 24 2010
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