FHA Home Loan Requirements 

FHA loans are designed to make home ownership more affordable, especially for first time home buyers or prospective home buyers. But just like with any mortgage product out there, you’ll still need to meet the minimal qualification requirements, which we outlined below: 

  1. The minimum credit score you’ll need to qualify for a FHA loan is 580. 
  2. The minimum down payment you’ll need is 3.5 percent. Applicants with a credit score between 500 and 579 will need 10 percent down in most instances. 
  3. Down payments for a FHA loan cannot be from anyone who will benefit from the transaction, such as the seller, an agent, or a lender. 
  4. You’ll need to produce documentation of income in order to qualify for a FHA loan. This means presenting pay stubs, W-2s, and even tax returns. 
  5. FHA loans are for primary residences ONLY! This type of loan cannot be used for a vacation home, income property, or second home. You can purchase a duplex, however, as long as you live in one of the units for a minimum of one year. 
  6. Borrowers must also clear the Credit Alert Interactive Verification Reporting System (CAIVRS), which is a database of people who have already defaulted on a government-backed loan, owe back taxes, or have other federal-related debt. 


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