– Below are some loan options for individuals with a 500 credit score. Keep in mind that as scores get below 580, some of the requirements below may also change.: FHA Loan Requirements With a 500 credit score. fha mortgage loans require both taxes and insurance to be escrowed. They require you to have a mortgage insurance premium (MIP)
fha loan help with down payment A Federal Housing Administration loan, aka an FHA loan, is a mortgage insured by the FHA, designed for lower-income borrowers. They demand lower minimum down payments and credit scores than.