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The best lenders for FHA loans in June 2021
Mortgage lender
You may qualify with as low as a 500 credit score, but you ll need a 10% down payment.
FHA loans are mortgages backed by the Federal Housing Administration. FHA loans are less risky for lenders than conventional mortgages (what you may think of as normal mortgages ), so you can usually qualify with a lower credit score. FHA loans also come with lower interest rates than conventional mortgages.
The best FHA loan lenders have lower credit score requirements for FHA loans than for conventional mortgages. You can often qualify with a score as low as 580 with a 3.5% down payment, or as low as 500 with a 10% down payment. Although these are the rules of thumb, some lenders require scores as high as 640 for FHA loans.