What Credit Score Is Needed with FHA Loans

Today, the minimum credit score on FHA loans is only 500. That means even if you have past credit problems, there is a good chance you may be eligible for a FHA loan. The FHA credit score requirements have always been easier than the conventional programs, like Fannie and Freddie. In 2018 the credit score for FHA loan program continues to be an attractive feature because the Department of Housing and Urban Development encourages lenders and bankers to take more risks on borrowers with credit scores as low as 500.

For limited or no credit scores, lenders typically refer borrowers to FHA loans because they approve financing beyond fico scores. Most traditional lenders use the credit score system as the centerpiece for underwriting guidelines. Fannie Mae, Freddie Mac and most subprime lenders use the middle credit score are the primary factor when evaluating a loan approval. With a minimum credit score of 500, it is safe to say that the Federal Housing Administration continues to be aggressive with lending. Many new house buyers have not established much credit and some do not even have a fico score yet. FHA mortgage rates have fallen once again near record territory. The Federal Housing Administration is a great option for people with no credit scores looking for a no credit score FHA loan.

How to Buy a Home with FHA even if you have No Credit

Consider a no credit mortgage from FHA, if you haven't been able to establish enough credit for Trans Union, EquiFax or Experian. FHA mortgage guidelines continue to focus on the borrower's willingness and ability to repay a loan and a credit score is only one level of measuring this. FHA allows alternative credit with the use of rental history and utility bills. Consumers like FHA mortgages for bad credit home buying, renovating and refinancing homes. BD Nationwide provides cost-effective FHA mortgages across to qualified borrower in the U.S. FHA remains the most popular government financing options this year.

The Federal Housing Administration will still consider no credit mortgage loans, but they must be approved by an approved FHA underwriter. In most cases applicants seeking no credit loans will need to document some payment history with a landlord. In some cases, the underwriter may request cancelled checks and bank statements in an effort to show a steady pattern of paying rent. If you want to be considered for a no credit score mortgage, please complete the loan quote form above and you'll be able to learn more about your eligibility. Find out if you are eligible for FHA down-payment loan with below average credit score.

Check Rates on FHA First Time Buyer Loans

Affordable Fixed Interest Rate and Terms with FHA Mortgages

Whether you need to refinance out of your high rate ARM or get cash out and consolidate bills, our lenders can help you compare no credit mortgage loans. Talk to loan officers that can help you understand guidelines and lending requirements on FHA and sub-prime programs.


Resource Tools

Loan Comparison Calculator
This calculator will help you to compare the total interest cost with various types of house mortgages.

New FHA Mortgage Requirements for Home Buying

Getting a Pre-Approval Letter for a Home Loan with FHA

FHA Loan Qualification

Take advantage of our free guides and disclosures that help people with limited credit get prepared.

Understanding Credit Scores
Additional FHA Product Pages:
FHA Home Loans for Refinancing | 203K FHA Home Improvement Loans | FHA Streamline Refinance | FHA Refinancing | Government Mortgage | Bad Credit Mortgage | 30-Year FHA Rates | Low Credit Score Home Loans | Bad Credit FHA Mortgage | No Credit Home Loans | Get Pre-Qualified for a FHA Mortgage | Down Payment Requirements on a FHA Loan | Pre-Approval Letter for a Home Loan with FHA | FHA Loan Qualification
Other Popular FHA Mortgage Products:
New Homebuyer FHA Mortgage Loans | Subordinate 2nd Mortgage & Refinance with FHA | NO Credit Score FHA Mortgage Loan | Jumbo FHA Mortgage Loan | Fixed Thirty Year FHA Mortgage | FHA Mortgage with No Early Payoff Penalty | FHA Refinance
Apply Now | Disclosures and Terms | About Us | Testimonials
BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please note that this is not an advertisement for credit. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and cannot make loans. The minimum credit score under FHA guidelines is 500, but that does not guarantee that lenders will approve FHA mortgages regardless of a specific fico score. Loan program and requirements are subject to change. BDNationwideMortgage.com has not affiliation with any government entity. Copyright © 2001-2018 and Beyond, - BDnationwidemortgage.com is a website and cannot make loans. All rights reserved.