A minimum credit score has never been required over the years in order to close a FHA loan. The condition of the real estate market and mortgage lenders has prompted some changes to the years old requirements.
A minimum credit score is now being required of borrowers to do a FHA loan. Some lenders are saying they will not close a FHA loan if the score is below 580. I have seen other lenders close FHA loans if the score is not below 550.
This can vary from lender to lender so it pays to check with a lender to see what their policy is if you know your credit score.
Sue Snyder, CTX Mortgage Company, LLC 1-775-448-9667
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