First-go out homeowners commonly choose FHA funds due to their advance payment and you may borrowing minimums. You might qualify for an enthusiastic FHA mortgage which have good 3.5% down-payment and you will a good 580 credit history. Although not, keep in mind that loan providers possess her FHA credit score requirements. For those who have a credit score lower than 580, you may still end up being acknowledged but you’ll you want ten% of the house purchase price given that a downpayment. Read more