FHA money will be more straightforward to qualify for
Low down payment
So you’re able to qualify for the reduced down payment off step three.5%, you must see a minimum FICO score given by the bank. This score may vary off financial so you can financial, but it’s basically lower than the fresh new rating standards regarding almost every other financing, as well as conventional. If you do not have the lowest rating, you might still be eligible for an FHA loan, however your advance payment will get increase to ten%.