FHA Below 580 Credit Score 2021

FHA Below 580 Credit Score 2021


FHA Below 580 Credit Score 2021

Not all FHA lenders have increased their minimum credit score requirements. www.Mortgage-World.com LLC is still originating FHA loans with credit scores below 580.

Have you been told that you need a minimum credit score to qualify for an FHA loan and you don't qualify because your credit score is to low?

Our minimum credit score for an FHA Loan is 500.

Call us 888-958-4228 or compete our online application.


FHA after bankruptcy   FHA after foreclosure   FHA after short sale


Credit score - On January 20, 2010 FHA announced a new policy to address risk. FHA changed the minimum credit score for new borrowers.

  • FHA requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment
  • Borrowers with less than a 580 credit score will be required to put down at least 10%
  • Minimum 500 credit score

This has allowed the FHA to better balance its risk and continue to provide financing for home buyers.


FHA Home Buyer - FHA Refinance


Refinance - Need to lower your monthly payment today for a better tomorrow. Start your refinance online now!

  • FHA rate and term up to 97.75% loan-to-value
  • FHA cash out up to 80% loan-to-value
  • Minimum 500 credit score

Debt-to-income ratio - April 1, 2013 FHA requirements include a maximum debt to income ratio. When a borrower applies for an FHA mortgage, they are required to disclose all debts, open lines of credit, and all possible approved sources of regular income. Using this data, the lender and FHA can calculate the borrower's debt-to-income ratio.

  • FHA maximum debt to income ratio can be over 55%
  • Manual underwriting maximum debt to income ratio is 40/50%

Charge off accounts  - Collection accounts - Judgments


Mortgage Insurance - On January 9, 2015 the Federal Housing Administration (FHA) announced the reduction of it's annual Mortgage Insurance Premium (MIP) rates.

Effective on or after January 26, 2015 FHA will reduce the premium from 1.35% to .85% a reduction of .5%.

Combined with low interest rates and the reduction of MIP rates means that it is a great time to buy a home or refinance your mortgage.



Apply Now!

Call us 888.958.4228


www.MORTGAGE-WORLD.com, LLC is an online mortgage company specializing in FHA loans for first time home buyers.


We look forward to working with you.

Apply Now!

Call 888.958.4228

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Recent Articles

  1. FHA Purchase

    Nov 18, 21 08:42 AM

    FHA purchase loans have been helping people become homeowners since 1934. A perfect credit score is not needed for an FHA purchase. FHA minimum credit score of 580 to qualify for 3.5% down payment pro…

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  2. FHA Credit Score Requirements 2021

    Nov 02, 21 09:21 AM

    FHA credit score requirements 2021. New borrowers will now be required to have a minimum credit score of 580 to qualify for FHA's 3.5% down payment program.

    Read More

  3. Refinanciar Despues De La Bancarrota

    Oct 27, 21 11:58 AM

    Refinanciar despues de la bancarrota! Préstamo FHA puntaje de crédito mínimo de 500 para calificar para el retiro de efectivo del 80% del el valor de la casa.

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