510 Credit Score FHA Loan
FHA is the one loan a 510 score can reach, with 10% down. The bigger win is the 70-point climb to 580.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
At 510 your only realistic mortgage is FHA, and it asks for 10% down because you sit in the 500–579 band. Approval is real but narrow: you need a lender that writes below the 580 overlay and a file with no recent damage. We will tell you honestly whether to push now or spend a few months getting to 580 first.
What 510 Means for FHA
A 510 usually carries one or two heavy items still dragging the file down, often a recent collection or a high balance. FHA can look past old problems, but recent ones matter. Clearing the freshest negative is often the fastest single move.
The down payment gap is the real cost. 10% on a $300,000 home is $30,000 versus $10,500 at 580. For most 510 buyers that gap, not the rate, is what makes waiting worth it.
| Factor | FHA at a 510 Score |
|---|---|
| Down Payment | 10% required |
| Lender Availability | Narrow — most overlay at 580 |
| Distance to 3.5% Down | 70 points (to 580) |
| Smart Move | Clear the newest negative, climb to 580 |
510 Score FHA Loan — FAQ
Yes, FHA allows 510 with 10% down, but only a lender that writes below the 580 overlay will approve it and your recent payment history has to be clean. For most buyers the better play is reaching 580 first to drop the down payment to 3.5%.
Often a few months if the drag is one collection or a maxed card. Paying a revolving balance below 30% of its limit and clearing the newest negative tend to move a 510 the fastest. We map the specific items on your report.
A FHA Loan With a 510 Score?
Get matched to the right Florida loan for your score · Licensed FL mortgage broker NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.