01/31/2026
Having a lower credit score costs. Can I do a loan with a 500 credit score? Yes. But you need MONEY @ least 10% down + closing cost (if seller contribution doesnt cover all of the closing).
Down payment assistance? Yes it’s great but understand sometimes it comes with a higher interest rate (certain programs).
If you can afford your own down payment for fha (great because it’s usually the cheaper costs overall for price of loan compared to a lender downpayment assistance program
Understanding your debt to income ratio is important… most ppl have higher DTI which causes them to have to go FHA over conventional or USDA.
Research your credit profile. A lot of you not checking your credit to know what’s going on. Please don’t be in a situation where you are unaware what has been reported on your credit report for months. This can significantly hurt you from being qualified. There’s rules & overlays about how many late payments you can have.
