Can I get an FHA loan with a 580 credit score?

Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker

Yes. 580 is exactly the score that unlocks FHA's 3.5%-down option, making it the go-to loan at that level. You'll still need documented income and a clean recent payment record.

At 580 your rate and mortgage insurance are higher than a strong-credit borrower's, so we'll also show what a modest score bump to 620 could save with a conventional loan.