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My Credit Score is Low. Can I still Get an FHA Loan?

Mike Chissell, Trusted Mortgage Advisor • Oct 26, 2022

Yes you can! We just had a realtor call into the office with a client who just got denied at another institution for having a credit score below 640. So, we were able to approve this client for an FHA loan that had a 520 credit score that is now closing next month.

At Chissell Mortgage Group, we have lenders that can go down to 500-credit scores for FHA loans, but your criteria may change depending on what credit score you have.


If you are in the 500-580 credit score bracket, you can get an FHA loan, but the usual 3.5% down payment changes to a 10% down payment.


If your credit score is 580+, you can get the standard 3.5% down payment on an FHA mortgage. Woo hoo!


If you get a loan denied because of your credit score or for any other reason, give us a call at the office 727-376-6900. We would love to review any file that has been denied from other banks, or credit unions free of charge.


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