You will need to have a middle credit score of 620 or better for an FHA mortgage. Additionally, this is for single-family residences and you have to have two months of mortgage payments saved/liquid in the bank. 620 FHA credit scores are good I’m purchase transactions on loans to $417,000.
Share:
Posted in: FHA mortgage, minimum credit score for loan
RELATED MORTGAGE ADVICE FROM SCOTT SHELDON
Reverse Mortgages: When They Make Sense—and the Risks You Need to Know
For many retirees, the majority of their wealth is tied up in their home. Over…
Should You Ever Take a 50-Year Mortgage?
When you stretch a mortgage term out to fifty years, it changes the entire financial…
VA and FHA Loans in Community Property States
If you’re applying for a VA or FHA mortgage in a community property state—such as…
Does to make sense to cash refinance to consolidate debt?
Rising credit card balances and high-interest personal loans can put a strain on your monthly…
View More from The Mortgage Files:
begin your mortgage journey with sonoma county mortgages
Let us make your mortgage experience easy. Trust our expertise to get you your best mortgage rate. Click below to start turning your home dreams into reality today!