580 Credit Score Refinance
A 580 supports FHA refinancing, including a full rate-term refi, while conventional and most cash-out wait for 620.
A 580 credit score opens up FHA refinancing more fully. Beyond the streamline option, a 580 can support an FHA rate-term refinance with a normal underwrite, since 580 is the FHA threshold. Conventional refinancing and most cash-out programs still wait for 620, but at 580 your FHA-side options are genuinely useful.
FHA Opens, Conventional Waits
At 580 an FHA rate-term refinance is on the table with standard underwriting, not just a streamline. That gives you a real way to reset your rate or term if your current loan is FHA.
Conventional rate-term and most cash-out refinances still require 620. If pulling equity is the goal, the 40-point climb to 620 is the next milestone; for a straightforward FHA rate improvement, 580 already works.
| Refinance Type | Available at a 580 Score? |
|---|---|
| FHA rate-term | Yes |
| FHA Streamline | Yes |
| Conventional rate-term | No (needs 620) |
| Most cash-out | No (needs 620) |
What a 580 score changes for Refinance
Credit scores work in bands rather than single points, so the score either side of yours is what decides whether the terms move. Here is what the nearest bands do to a refinance in Florida, and what the same 580 reaches on other programs today.
Drop to 570: Streamline now, 620 is close. See 570 with Refinance
Reach 600: FHA refi solid; conventional 20 points off. See 600 with Refinance
If you are close to the band above, it is usually worth asking a lender what it would take to get there before you lock anything in. Paying down a revolving balance is the fastest lever most borrowers have, and it can move a score within one billing cycle.
One thing worth knowing before you read too much into a number: lenders do not use the score you see on a free credit app. They pull all three bureaus and work from the middle score, and on a joint application they use the lower borrower’s middle score. Ask which score a lender is working from before you assume you sit in a particular band.
What else a 580 score reaches
FHA Loan at 580: Best entry point — 3.5% down.
VA Loan at 580: Entry point — 0% down.
Conventional Loan at 580: Not yet — 40 points short.
Jumbo Loan at 580: Not available — still far below jumbo.
580 Credit Score Refinance — FAQ
Yes, on the FHA side. A 580 supports both an FHA Streamline and a full FHA rate-term refinance. Conventional refinancing and most cash-out programs still require 620.
Generally not. Most cash-out refinances require 620 or more. At 580 you can lower your rate or reset your term through an FHA refinance, but tapping equity usually waits until you reach 620.
Verify the details for your own situation against these government and agency sources: HUD FHA loan program and HUD Handbook 4000.1 (FHA rules).
A Refinance With a 580 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.