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Key takeaways. FHA loans require a minimum 3.5 percent down payment for borrowers with a credit score of 580 or more. Borrowers with a credit score of 500 to 579 need to put 10 percent down.
Borrowers may also be eligible for down payment assistance through a state agency to help cover the cost. ... In 2024, the FHA loan limit for a single-family home in most counties is $498,257, but ...
FHA down payment assistance programs, ... For 2024, those limits are $498,257 for a single-family home. Higher-cost areas have a maximum limit of $1,149,825. Show comments. Advertisement.
Credit score minimum. 620. 580 with a 3.5% down payment or as low as 500 with at least 10% down. Down payment minimum. 3% for fixed-rate loans; 5% for adjustable-rate loans
Here is our guide to the best mortgage lenders for first-time homebuyers in 2024. ... 3.5 percent down FHA loans and no-down payment loans for eligible military members or buyers in rural areas ...
December 19, 2024 at 10:00 AM. ... FHA loans: Insured by the ... Down payment assistance, low-interest rate loans and tax credits available. Credit score must be 640 or greater and must be a legal ...
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