FHA loans are usually very easy to get approved for compared to other types of loans – especially if you have a credit history that is not as strong as you’d like. This is all thanks to the backing they get from the Federal Housing Administration.

To qualify for an FHA loan, most FHA-approved lenders require: A minimum credit score of 580. However, some of them may approve your loan with a 500-579 FICO score, but this is only if you are able to make a 10% down payment.

If your credit score is 580 or higher, you can then enjoy a low down payment of at least 3.5%.

Speak with a real team member today to verify your FHA loan eligibility in Florida.

www.pillarmortgage.com