Mortgage FHA Loan Requirements Guide for Low-Down-Payment Buyers (2026)
Qualify for FHA mortgage loans: credit score minimums, down payment options, MIP requirements, and loan limits for Federal Housing Administration insured mortgages.
Summary
FHA loans enable low-down-payment mortgages for qualified borrowers. This guide explains credit requirements, MIP costs, and FHA loan limits.
Key Steps
- 1Check credit minimum: 500+ for 10% down, 580+ for 3.5% down FHA loan.
- 2Understand MIP: upfront 1.75% + annual MIP 0.15-0.75% based on loan term and amount.
- 3Review loan limits: 2026 FHA limit $472,030 single, $904,350+ in high-cost areas.
- 4Verify DTI ratio: FHA allows up to 43% DTI, some lenders accept higher.
- 5Compare to conventional: FHA easier qualification, but MIP required for life of loan if down <10%.