I hung up the phone with someone yesterday who asked me a few questions about FHA credit score requirements. The answers I gave to the questions she asked were just strange enough that I thought it might be helpful to share with others – because they may have these same questions.

Question: Does FHA require that people have minimum credit score requirements?

Answer: No, but investors do. And because investors all have different credit score requirements, you will find that they won’t lend you money unless you meet their minimum credit score requirements.

What has essentially happened over the last year or so is that there has become a “normal” credit score requirement by many investors of 620 – meaning your middle credit score must be 620 to be able to get the investor to lend you money that can be insured by FHA.

But not all lenders require a 620. Some require a 580. Some require a 500. Some have no credit score requirements at all.

It all varies by investor, and each loan officer generally works with many different investor, no matter what company they work with.

If you called me today, and asked me “if I work with you as my loan officer, what is the minimum credit score that I will need?” Here is the answer I would give today:

If you are refinancing your current FHA loan, I have an investor that doesn’t require a minimum credit score for the FHA streamline refinance.

If you are purchasing a house using an FHA loan, all of the investors that I work with currently require that you have at least a 620 middle credit score.

And of course, that all can change – as in maybe even 2 minutes after I hit “publish” on this post.

Related Posts

• FHA Minimum Credit Score Now 620
• FHA Loans Now Require A 640 Credit Score
• FHA Loans and Credit Scores: What Role Does Your Credit Score Play?
• 640 Is The New 580