FHA Loan Low Credit Score 500 Minimum Credit Score

  • Credit Score – A credit score of at least 500 is required.  No Overlay Lender since 2001.
  • Cash-Out Refinance – A credit score of at least 500 is required with a Max Loan To Value(LTV) of 85%
  • ***Effective 08/31/2019 FHA Cash Out Max Loan To Value(LTV) 80%
  • Down Payment – 3.5% down payment required with a 580+ credit score.
  • Down Payment  – 10% down payment required with credit scores between 500-579.
  • Eligible down payment sources – checking/savings, gift from family member, 401k,  IRA and eligible down payment assistance programs.
  • Property Requirements – All properties must meet certain safety, security, and soundness (structural integrity) requirements.

Link to 2023 Loan Limits

Click to  View FHA Loan Limits  to determine maximum loan limits available by county (once it is updated). Be sure to select the appropriate limit year (i.e., 2021).  For the “Limit Type” on FHA select FHA Forward. For the “Limit Type” on VA (for Veterans with partial entitlement) select Fannie/Freddie, but, for VA, the 1 unit column applies as the maximum loan limit regardless of property type/units.

FHA  – Closed on or after Jan 1st 2023:
For calendar year 2023, the Department of Housing and Urban Development (HUD) announced the following maximum first mortgage loan limits that will apply to FHA loans with case numbers assigned on and after January 1, 2023 through December 31, 2023:

2023 FHA Loan Limits
Units Low Cost Areas High Cost Areas Alaska and Hawaii
One $472,030 $1,089,300 $1,633,950
Two $604,400 $1,394,775 $2,092,150
Three $730,525 $1,685,850 $2,528,775
Four $907,900 $2,095,200 $3,142,800


The Federal Housing Administration (FHA) was developed as part of the National Housing Act of 1934 with the goal of improving the housing market. To accomplish this goal, the FHA insures home loans offered by approved lenders. This insurance allows lenders to offer great rates and terms on home loans while protecting them from borrower default. Access Capital Group Inc. offers great rates on FHA loans in Washington, California, Arizona, Colorado, Florida, Idaho, Oregon, Wyoming, Minnesota, New Mexico, and Utah.  In addition to great rates, FHA loans have relaxed qualification requirements compared to conventional loans. Down payment requirements can be as low as 3.5% as well. For this reason, FHA loans are often a top choice among first-time home buyers.  FHA is not only for first-time home buyers but for home buyers looking to potentially qualify with a credit score of 500-579 with a 10% down payment and with a 580+ credit score a down payment of only 3.5%.   Family members can even offer the funds needed for the down payment as a gift.

Whether you are a current homeowner researching FHA refinancing options, or a first-time home buyer looking to purchase your very first home, we can help. Access Capital Group Inc. offers great rates on FHA loans in Washington, California, Arizona, Colorado, Florida, Idaho, Oregon, Wyoming, Minnesota, New Mexico, and Utah.

Contact Us

Access Capital Group Inc.
202 E. Earll Drive
Suite 460
Phoenix, AZ 85012

Phone: 6026485860


NMLS Consumer Access
NMLS # 33043

Arizona: MB-0904605 | California CFL License: 6038514 Loans made or arranged pursuant to a California Financing Law | Colorado: 20021150081 | Colorado: LMB100026744 | Florida: CL0700723 | Idaho 1st Mortgage: MBL-4501 / NMLS # 33043 | Maryland: #33043 | Minnesota: 20337251 | New Mexico: 01475 | North Carolina License/Registration #: B-213554 | Ohio: RM.804918.000 | Oregon: ML-4188 | South Carolina DCA: #33043 | Texas: SML #34341 | Tennessee: 33043 | Utah: 6360087-MLCO | VA - 919946-0008 | Virginia: MC-7553 | Washington MB-33043 | FHA - 18970-0000-1 and 18790 | Wyoming: MBL-1863