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
When to Refinance Your Mortgage: Key Factors for Lowering Costs
When to Refinance Your Mortgage: Key Factors for Lowering Costs If you’ve bought a home…
How mortgage rate pricing works when rates decline
When interest rates are high, here’s how mortgage pricing works. Mortgage companies make money in…
The Hidden Risk of Lower Interest Rates: Why Refinancing May Not Be as Simple as It Seems
The Hidden Risk of Lower Interest Rates: Why Refinancing May Not Be as Simple as…
4 Signs You’re Not Ready to Buy a House
4 signs you’re not ready to buy a house when it comes to purchasing a…
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!