FHA Loan Info

[Anonymous]

What is the minimum qualification for FHA Loan? How much money I should put down?

[Anonymous]

The qualifications are on their website...the required down payment is 3%...but most people/lenders turn around and do a down payment assistance program for that...that's why some lenders say no money down with a FHA loan....

[DallasLoanGuy]

Some lenders will go down to 530 FICO. But if you arent above 580, those deals are very strict.

As stated: 3% down but can be a gift from family/charity. The Down Payment Assistace people are a faux charity.

No derogatories in the last 12 - 24 months helps.

[ShanetheMortgageMan]

There are still a few lenders going down to a 500 FICO on FHA as well - but the deal has to be very, very strong.