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FHA Loan

Lower credit? Get the financing you need.

FHA loans are an attractive option for home buyers with a few bumps in their financial history.
If you have a credit score over 580 and can afford a 3.5% down payment, an FHA loan could be right for you.

FHA Loan Requirements

Here’s what you’ll need to get started.

  1. 1.

    Minimum 580 Credit Score

    Rocket Mortgage requires a minimum credit score of 580 for FHA loans.

  2. 2.

    3.5% Down Payment

    You’ll need to make a down payment of at least 3.5% of your new home’s purchase price.

  3. 3.

    3% – 6% In Closing Costs

    With an FHA loan, you’ll need 3% – 6% of the purchase price available to cover closing costs.

  4. 4.

    Mortgage Insurance Premium (MIP)

    You’ll pay an upfront mortgage insurance premium of 1.75% of the base loan amount as well as monthly MIP.

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FHA Loan Benefits

Low Credit Score Requirements

You can get an FHA loan with a credit score of just 580 or higher.

Low Down Payment

With an FHA loan, you can put as little as 3.5% down.

Flexible Debt-To-Income Requirements

FHA loans come with less stringent debt-to-income (DTI) requirements than some other loans.

Flexible Borrowing Options

You can choose between a 15-year and 30-year term – with either a fixed or variable interest rate.

Shorter Waiting Periods

You may qualify for an FHA loan sooner after a major event such as a foreclosure, bankruptcy or missed payment.

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Get Approved now.

An FHA loan from Rocket Mortgage can get you the financing you need - for the house you love.

See What's Possible

Use our calculators to see what homeownership could look like for you.

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Ready for an FHA?

Applying for an FHA loan could be your ticket to homeownership. Rocket Mortgage lets you do it all online.