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FHA Cosigner credit requirements

For an fha loan with 10% down what is the current credit score requirements for all borrowers/signers?

brian1's picture
brian1 | Joined: June 14, 2008 05:14 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

It depends on the bank but the standard these days for most banks is 640 - having a cosigner will only help with income as the score of the lowest borrower will be used for qualification -
also a cosigners debts also get counted.
There are a few banks that will still take less but you will likely have to go through a broker to get to them - I do not know of any national banks that still go below 640

Like | Dislike | Share | Posted: Wed, 02/16/2011 - 17:32

tfaulhaber1's picture
tfaulhaber1 | Joined: December 17, 2009 12:24 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

You'll find most will require a minimum of 620-640. Being that you're putting more than the minimum down, most should/will accept a 620 credit score.

Like | Dislike | Share | Posted: Thu, 02/17/2011 - 08:22

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