Quicken Loans Lowers Minimum Credit Score Requirement on FHA Loans

Good news has returned for consumers interested in FHA loans who may not have qualified in previous months.  At Quicken Loans, consumers may now qualify for an FHA loan with a credit score of 580 and above.

Qualifying clients can lock in a low fixed rate on a 30-year, 25-year or 15-year program.  Adjustable rate mortgages and jumbo loans are not available to clients with FICO scores between 580-619.

FHA loans are designed to make housing more affordable with lower down payment requirements than conventional loans on purchases and less home equity requirements on refinances.  Less stringent qualification guidelines and the security of a government-insured loan makes FHA a popular choice for consumers.

Additional underwriting guidelines may apply when qualifying for a loan with a credit score of 580.  With low refinance mortgage rates and unbeatable client service, there’s no better time than the present to start saving money with what is likely your largest asset.

Contact a Home Loan Expert to find out more about this opportunity.

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182 Responses to Quicken Loans Lowers Minimum Credit Score Requirement on FHA Loans

  1. Kevin Krarup October 14, 2011 at 3:37 pm #

    I am in search of a lender who issues FHA HUD 203 loan. I am looking at a property that is in foreclosure and in need of repairs and rehabilitation. the total cost will be under $100,000.00.
    My credit score is 603.

    Please contact me by E-mail as I have a hearing problem and find it difficult to communicate by phone.

  2. Amber Hunt October 14, 2011 at 3:42 pm #

    Hi Kevin,

    Unfortunately we are not doing any 203k loans at this time. Good luck to you and please keep us in mind in the future!

  3. Christa October 18, 2011 at 12:25 am #

    Hello
    I am wanting to buy a property. First time home buyer never owned a home. Mortgage is 42k. Salary is 33k. I have 1 monthly debt $380.00. I currently rent for $659.00. My credit score is horrible, but I know something can be done.

    Please let me know if you can help
    Thanks

  4. Amber Hunt October 18, 2011 at 11:05 am #

    HI Christa,

    Thanks for reading! A Home Loan Expert will be in touch with you!

  5. Drew November 21, 2011 at 7:50 pm #

    Hello, I’m looking at getting an FHA loan. My credit is also horrible but I believe it’s close to 580. My wife and I rent a home for $900 a month but are looking to get into our house. Our income is around REMOVED Gross. I would love to hear from someone.

    Thanks,

    Drew

  6. Derrick January 30, 2012 at 8:39 pm #

    Im a first time home buyer and my score is 600 could I get approved for a loan of 95,000 with a 30 yr fixed rate

  7. Victoria Araj January 31, 2012 at 1:52 pm #

    Hi Derrick, thanks for reaching out to Quicken Loans. I will have one of our home loan experts contact you shortly to see if we can be of assistance. Thank you!

  8. Jason February 6, 2012 at 10:43 pm #

    I’m a Frist time home buyer looking for a loan of 75 to 80k income 1920 a month before taxes no debt credit score 646 two charge offs on credit report collectors paid infill. Could I be approved for FHA lone.

  9. Victoria Araj February 7, 2012 at 10:02 am #

    Hi Jason, thanks for reaching out to Quicken Loans. I’m going to share your message with one of our top home loan experts and he’ll be in touch shortly. Thanks and have a great day!

  10. brian February 17, 2012 at 10:11 am #

    Hello i am interested in a loan of 85 ,000 have a credit score of 580 627 and 613. I am a first time home buyer and want an fha loan…….

  11. brian February 17, 2012 at 10:15 am #

    Also i have an income of 3500 a mth

  12. Victoria Araj February 17, 2012 at 10:21 am #

    Hi Brian, thanks for reaching out to us, I will pass your information along to one of our home loan experts who will contact you shortly. Thanks and have a great day!

  13. Alissa February 24, 2012 at 3:27 pm #

    Hi, I am interested in a loan for 130,000. We are first time home buyers. My credit score is a 613 my husbands is not so good. Our yearly income is 73,000.

  14. Victoria Araj February 24, 2012 at 3:37 pm #

    Hi Alissa, I will pass your message on to one of our home loan experts who can contact you about purchasing a home. Thanks for reaching out to Quicken Loans and have a great weekend!

  15. Krystal February 27, 2012 at 1:12 pm #

    Hi my husband and I are looking to buy our first home. I work part time and have a cs of 588 592 and 600 my husband works full time and his scores are slightly lower than mine. We have recently paid done some credit repair and are waiting for our scores to reflect that. We really want to purchase while prices and interest is low. We live in an area that was hit pretty hard by the economy and homes are going for really cheap.

  16. Victoria Araj February 27, 2012 at 2:51 pm #

    Hi Krystal, thanks for reaching out to Quicken Loans. I have forwarded your message to one of our home loan experts who will contact you shortly to see if we can be of assistance. Thanks and have a great day!

  17. Emily Harmon March 19, 2012 at 9:10 pm #

    I am looking for FHA loan with middle score of 580. Looking to purchase house for about 95,000. Have 5 percent down. Recently paid off some debts to allow for payment. Also moving to town where I work will save about 200 per month just on gas. Now renting and paying about 850 with utilities. Please let me know if u can help.

  18. Victoria Araj March 20, 2012 at 11:15 am #

    Hi Emily, thanks for reaching out to Quicken Loans, I have forwarded your request to one of our home loan experts who will contact you soon to see if we can be of assistance, thanks and have a great day!

  19. hamilton oser April 2, 2012 at 2:30 pm #

    Hello, i believe my middle credit rating is about 680 or better. My wife and i make near or above 100,000 annually. We are not first time home buyers. Can you help my wife and i?

  20. Victoria Araj April 2, 2012 at 3:56 pm #

    Hi Hamilton,
    Thanks for reaching out to Quicken Loans, I have shared your comment with one of our home loan experts who will contact you shortly to see if we can be of assistance. Thanks and have a great day.

  21. Beth Davis April 6, 2012 at 7:39 am #

    My husband and I are looking to buy… We make around $110k/yr, and credit scores are now on the rise. Mine used to be in the low 500′s, but just this month jumped to 631/606/580. His scores are about the same, however he just paid something off and I believe his score will jump up higher than mine now. We are looking to purchase around $ 225k. Also, his name is still on the mortgage with his ex wife… Could we do FHA?

  22. Victoria Araj April 6, 2012 at 1:00 pm #

    Hi Beth, thanks for reaching out to Quicken Loans, I forwarded your request to one of our home loan experts who will contact you shortly. Have a nice day!

  23. Brian Heath May 1, 2012 at 1:37 pm #

    I am wanting a refinance on my loan and my middle score is a 580 I have a 1st and 2 nd and want combine thanks

  24. Victoria Araj May 1, 2012 at 1:49 pm #

    Hi Brian, thanks for reaching out to us, I have forwarded your request to one of our home loan experts who will contact you shortly, thanks.

  25. Carlos and Kim May 21, 2012 at 11:29 pm #

    Hey,
    We are looking to get a home loan for 150000. My husband make 36k and I make 41k a year. My cs is 535 to 560 and his cs is 600plus. We are trying to get pre approve to purchase this home within 45 days. We have 6k for down payment. Do you think you could help

  26. Shannon Martin May 22, 2012 at 10:01 am #

    Thanks for reaching out to Quicken Loans. I’ve passed your question on to one of our Home Loan Experts who will be contacting you soon.
    Thanks again!

  27. Brendan May 24, 2012 at 8:33 am #

    I was told that the minimum for an FHA loan is 620. Is this correct?

  28. Shannon Martin May 24, 2012 at 8:40 am #

    Thanks for your question. I’ve passed it on to one of our Home Loan Experts who will get in touch with you soon. Have a great day!

  29. Ashlee June 15, 2012 at 7:07 pm #

    Hi, I would like to see if this would be an option for us, scores are approx 580 and on the rise as we pay off stuff, debt to income is great, looking to purchase 200k have 10% down as of now, thank u!

  30. Victoria Araj June 15, 2012 at 8:38 pm #

    Hi Ashlee, thanks for contacting us. I have forwarded your request to one of our home loan experts who will contact you to see if we can help! Have a great weekend!

  31. Cynthia June 17, 2012 at 5:37 pm #

    Hi I just went through the HAFA refinance on my current home but I still cannot afford it. I have a renter as soon as I can find a new place. My FICO was 790 until 2008, when the recession hit and I ran behind due to many reasons (divorce,dramatic loss of income, medical care for my mother who passed away recently). There are some old collection accounts from 2009. My FICO score is now about 600, I have 10-20% down. The kicker is I am SELF employed for 12 years. Income is steady and on the rise now. I have no car payment or credit cards now except one with a very low limit. I use it and pay it off each month to help build my credit up again.

    Would I ever be considered for an FHA?

  32. Victoria Araj June 17, 2012 at 5:46 pm #

    Hi Cynthia, Thanks for giving us a bit about your financial background, there are several factors that determine qualification, so I’ve forwarded your request to one of our home loan experts who will contact you and see if we can be of assistance. Thanks for reaching out to Quicken Loans.

  33. HOLLI July 1, 2012 at 1:03 pm #

    I have credit scores of 627, 607 and 607. I have had some credit issues but have made arrangements to pay things off. I am looking to secure a FHA loan for 60K to 75K. I am
    a first time home buyer looking to purchase a condo. I make 18.00 an hour and I would like to purchase within the next 6 months. Would Quicken Loans be able to help me with my financing needs?

  34. Meghan July 1, 2012 at 5:38 pm #

    Hi, I am a first time buyer. I am a hairstylist and my first 2 years I was paid under the table. I started getting paid in January by pay checks but it does not show all my tip income. Is there anyway to receive a loan w out W2 forms ?

  35. Victoria Araj July 2, 2012 at 3:48 pm #

    Hi Meghan, it’s going to be difficult to qualify if there is not a documented history of income, but I’m going to forward your request to one of our home loan experts who will contact you. Thanks

  36. Victoria Araj July 2, 2012 at 3:50 pm #

    Hi Holli, thanks for reaching out to Quicken Loans, I have forwarded your request to one of our home loan experts who will contact you soon to see if we can be of assistance, thanks!

  37. jessie sullivan July 27, 2012 at 8:05 pm #

    Been preapproved, do you offer yet 203k?

  38. Victoria Araj July 30, 2012 at 12:32 pm #

    Hi Jessie, are you looking for a $203,000 loan to purchase a home?

  39. Marie August 17, 2012 at 6:34 pm #

    My hubby and I are trying to buy our first home. He’s retired NAVY full bene’s and we already have our COE for a VA loan. We have had no slow pays for more than a year, and not counting MY student loans are DTI is around 29%. Both of our midscores are 655 and 605, is it possible for us to obtain a loan for a home between 290K – 315K. I don’t believe our income will be an issue at all as we’ve got a combined total of about 13K a month.

  40. Victoria Araj August 20, 2012 at 10:30 am #

    HI Marie, thanks for reaching out to us, I’ve forwarded your request with one of our home loan experts who will contact you soon. Thanks!

  41. Matt September 19, 2012 at 7:58 pm #

    608 score looking for a 93000 FHA loan

  42. Victoria Araj September 20, 2012 at 10:46 am #

    Hi Matt, I shared your inquiry with one of our home loan experts who will contact you shortly. thanks!

  43. Monica September 20, 2012 at 6:56 pm #

    Can anyone help me, i keep getting disapproved. I have a 625 credit score, and also am VA qualified if I can go that route. My fiancee credit score is 640 but is not a vetran. Are u all able to help. We have 4K downpayment, which isnt alot, but would really like to move by Jan 2013.

  44. Victoria Araj September 21, 2012 at 1:40 pm #

    Hi Monica, one of our home loan experts will contact you shortly to see if we can be of assistance. Thanks!

  45. Emily October 18, 2012 at 12:15 pm #

    My husband and I are looking to get into a home of our own. We have found a house with a list price of 197,400. My credit score is in the mid 600s but my husbands is currently 571. We know for a FHA a 580 is required and we are hopeing it will be there very soon seeing as how we have recently taken care of somethings that were negatively impacting his score. My husband has a good secure job with a steel mill with an income of about 80,000. While we know we have to wait a little bit for his score to move up a few points , I was just wondering once that happens if your company may be able to help us with a FHA loan. Thanks!

  46. Victoria Araj October 18, 2012 at 3:40 pm #

    Hi Emily, thanks for reaching out to us, one of our home loan experts will be contacting you with more information.

  47. Buyer1 October 28, 2012 at 2:41 pm #

    My credit score is around 700+. The main reason it’s so low is that I haven’t had an open account for a long time. I typically pay cash for everything. I’m in IT, loving the work I do and making an industry average of $70,000/yr. I want to buy foreclosure property that would require some fixing up (would like this included in the loan) Ultimately the home value would be around 20%, or above, total investment including the fix up costs. I’d like to put down as little as possible to ensure I always have enough cash available. Total loan with improvement costs I’m looking for is $150,000 – 170,000.

    Should I open credit card accounts to boost my score before I look? If I open two credit accounts, how long before my score improves to excellent?

  48. Victoria Araj October 28, 2012 at 8:33 pm #

    Hi John, Thanks for reaching out to Quicken Loans. Your score is strong if it is 700+. One of our home loan experts will contact you soon to see if there are options available for you.

  49. Julie October 29, 2012 at 4:41 am #

    Mine and my husbands credit scores are right around 600 (some a few points lower, some a few points higher) and would like to purchase a home. Is the minimum credit requirement still 580 for FHA or did it go back up to 620? I was under the impression that it went back up. Also, if we are looking at a 60K home, what would the minimum income requirement be? No other debts. Would it be 35, 45 or 54 percent DTI ratio with those kinds of scores?

  50. Victoria Araj October 29, 2012 at 10:23 am #

    Hi Julie, thanks for reaching out to Quicken Loans. One of our home loan experts will contact you to go over your questions.

  51. Tania Lopez November 4, 2012 at 2:34 am #

    Hi my husband and i are trying to buy our first home he has a 580 613 647 my credit is a bit lower than that so were gonna use his credit he also makes 4000.00 a month works in the oil feilds can we get an Fha home want to buy our house for the holidays looking to buy home Within 30 days no debts at this time…..also would like to buy a home for up to 85,000

  52. Victoria Araj November 5, 2012 at 12:09 pm #

    Hi Tania, thanks for reaching out to Quicken Loans. One of our home loan experts will contact you soon to talk more about your specific situation. Thank you.

  53. Derek February 9, 2013 at 12:12 pm #

    Quicken Loans did not lower their credit rates down.. i just got off the phone with those (word deleted) and i have a 612 credit score and they said i NEED

  54. Derek February 9, 2013 at 12:13 pm #

    at least a 620 before they would even consider me..

  55. Victoria Araj February 11, 2013 at 12:05 pm #

    Hi Derek, thanks for your feedback. We do have a credit minimum of 580 but there may be circumstances in each individual’s profile that may require a higher score for qualifying guidelines to be met. I’ve shared your feedback with the team and they will look into it further and get back to you. Thank you for your patience.

  56. Carlos C. February 27, 2013 at 12:20 am #

    Hi Victoria,

    I just finished grad school in March of 2012 and landed a decent job in Phoenix, AZ. Although I don’t make as much as I would like, my salary covers all my expenses and then some. Because I chose to get a masters degree my debt level is pretty high, but, my payments have not kicked in yet. I have one liability payment which is an auto loan through Chase Finance. Besides this, no other monthly payments. During college I did let go of a some credit cards, and the amounts have been written off by the debtor. The collection agencies still call to collect, but, most are relatively old not sure if they matter at this point.

    Checked my scores and they are pretty low, I think the mid fico is xx. I would like to put 10% down on something around xx depending on the home. I don’t expect to get the red carpet treatment by any means, so, I’m prepared to do what it takes to buy a home within the next 6 – 9 months. I really need assistance! Let me know where to start.

    Thanks,
    Carlos

  57. Victoria Araj February 27, 2013 at 12:40 pm #

    Hi Carlos, thanks for contacting me. I’ve shared your inquiry with one of our home loan experts who will reach out to you soon, thanks!

  58. Peggy Germain March 1, 2013 at 7:40 pm #

    Hello, my name is Peggy, I’m a Nurse with good work history and I make $xx,000 a year I’m looking at a 1879 sq ft Home with a 3000 sq ft 3 bay door 2 story garage with office on 4 acres in Milton Florida.The sale price is $xx,000 and it’s ready to be lived in. I want to but it through a FHA loan. My credit score is xx I have a few small medical bills, a cable co that claims I didn’t return eqt. and 4 others a gas company,and another cable co. I bought 2 trucks in 2005 at the same time from for $xx,000 and the other for $xx,000 I paid $xxxx.00 a mo in payments for both for 48 mos never late never missed a payment I paid the last payment in Feb 2010. However it isn’t showing on my credit report. I called xx there she was my loan officer and told me if I ever needed a bank or the info for a loan all the lender would have to do is call Sovereign Bank with my info and they would fax the info to them. I feel as if this is hurting my chances of getting my home loan because it is not being added into my score as good credit. I really want this home for my family and my debt is only a $xx.00 a mo payment loan I took out just to get some kind of revolving credit going. All my cars are paid for and I pay cash for everything. I haven’t tried to get the loan yet I have a realtor she is the property manager for the home I’m renting now. I’ve been here 2 years never late in payment $xxxx.00 per mo so I asked her to be my realtor in finding a home. The owner of this home wants to sell it and I don’t want it and my lease is up in 2 mos. Do I have a chance at a FHA loan? Thanks Peggy.

  59. Victoria Araj March 4, 2013 at 5:28 pm #

    Hi Peggy, thanks for reaching out to us, I have shared your information with one of our home loan experts who will contact you to learn more about your situation. Thanks!

  60. Megan March 5, 2013 at 8:45 am #

    My husband and I are trying to buy a house, does quicken loans do mortgages with a mid score of 601?

  61. Victoria Araj March 5, 2013 at 10:20 am #

    Hi Megan, thanks for contacting us. I have shared your inquiry with one of our home loan experts who will reach out to you soon. Thanks!

  62. Ransome March 9, 2013 at 1:25 am #

    I am inquiring about an FHA purchase loan for my Mother. She makes $xx,xx.00 per month from Social Security, has a mid FICO of xxx, has four small chargeoffs, all from over two years ago, has four secured credit cards ( balances from $200 to $500 ), that she has been paying on for over a year, with no lates. She keeps the credit cards at zero balance, and is looking to purchase a one-bedroom, low-rise condo in San Jose, California, with a purchase price of about $xxx,000. I have $xxxx in down payment money that I can gift her.
    Can she qualify for FHA? What would be the maximum back-end ratio ( I believe she would be about 50% DTI )? What are the tradeline requirements ( I heard 4 x 12 months )? Is the minimum FICO still 580? What is the rule on chargeoffs and collections? Can all the downpayment be a gift?
    Please advise,
    Thanks,
    Carl

  63. Victoria Araj March 11, 2013 at 5:25 pm #

    Hi Carl, thanks for contacting us. I’ve shared your inquiry with one of our home loan experts who will reach out to you.

  64. Lisa April 2, 2013 at 4:26 pm #

    What are your current requirements for an FHA:
    Down Payment?
    Credit Score?
    Income? or Debt to income ratio?

    Thanks

  65. Keith Guyot April 2, 2013 at 5:01 pm #

    Hi Lisa! We have forwarded your questions to our Home Loan Experts who should be getting in touch with you shortly!

    Thanks for reading!

  66. Shanty April 9, 2013 at 4:35 pm #

    Any options for a 619 FICO score?

  67. Keith Guyot April 10, 2013 at 2:04 pm #

    Hey Josh,

    I’ve forwarded your question to one of our Home Loan Experts. They should be getting in touch shortly!

    Thanks for reading.

  68. Keith Guyot April 10, 2013 at 2:06 pm #

    Hi Shanty!

    I’ve forwarded your question to one of our Home Loan Experts. They should be getting in touch shortly!

    Thanks for reading!

  69. Josh April 10, 2013 at 2:12 pm #

    Hello, I wanted to inquire about home loan for a first time home buyer. My median credit score is a 647 and I have an income of about 3900 pre tax. I live in a high cost area (northern california) and would need about $225K to make a reasonable purchase for my needs. I pay about $300 for car loan (2yrs left) amd $170 school loan. What are my options. Conventional or FHA.
    Thank you.

  70. Ruthann April 24, 2013 at 7:19 pm #

    I tried refinancing and I was told the same things as Derek, a 620 score was needed. I have not been late on my mortgage the five years I’ve had it.

  71. Victoria Araj April 25, 2013 at 5:18 pm #

    Hi Ruthann, thanks for contacting us. I’ve shared your inquiry with one of our home loan experts who will reach out to you and see if we may be of assistance. Have a great day!

  72. Wanda May 5, 2013 at 7:04 pm #

    Hi, We are looking into buying a house for around about 83,000. My husband brings home about 2800 a month and has a credit score of 607. We do not have much of a down payment.Would this even be possible??

  73. Jaime May 19, 2013 at 4:19 pm #

    I have a home paid off worth $200,000 – I am looking for a home equity loan of $40000. My credit score is 597 equifax. And 647 transunion Would there be any options with your company?

  74. Sean Jones May 28, 2013 at 2:54 pm #

    i have a 600+ score and looking to get a house i make 85k/year + bonus/401k

    i have only 1 late payment in the last 12mos

    is it possible to get a lown for a home cost 150k or less

    current rent / utils is like 1200 to 1300

    sj

  75. Victoria Araj May 28, 2013 at 5:52 pm #

    Hi Sean, thanks for reaching out to us, we have shared your inquiry with one of our home loan experts who will contact you. Thanks and have a great day!

  76. Deanna May 29, 2013 at 1:47 pm #

    What is the minimum credit score accepted for a home loan?

  77. jeana June 6, 2013 at 10:25 pm #

    Hello- I am looking to buy a house for me and my children. My income is 32k per year and my credit score is between 582 and 638. I am looking for a loan for less than 90k.

  78. Gee June 29, 2013 at 3:57 am #

    Hello, I am interested in a conventional loan, my score now is 628 but should be higher than 650 in few days since just paid off all credit cards. I was approved for an FHA loan last year with a mortgage firm but didnt go through with got tired not find a good home and just gave up. Income is ok and Ready now to purch thinking 60-100k starter home.. first time buyer and ready to close. thanks

  79. Keith Guyot June 29, 2013 at 12:56 pm #

    Hi Gee! Good work on getting those credit cards paid off. I’ll make sure one of our Home Loan Experts gets your info so you can get the ball rolling on purchasing!

  80. Latrese July 3, 2013 at 1:45 am #

    I am looking to received an USDA loan, my creidt score is 606. do you think i can get a home purchase loan

  81. Kim July 3, 2013 at 9:45 pm #

    I’m currently in a seller carryback loan with a $72,000 ballon payment. I need to refinance, my credit score is currently a 581. I live in Glendale,AZ. 85301 area .
    Thank you,
    Kim

  82. Victoria Araj July 5, 2013 at 10:03 am #

    Hi Kim,
    Thanks for contacting us, one of our home loan experts will reach out to you to see if we may be of assistance.

  83. megan July 6, 2013 at 2:43 pm #

    yes my name is megan I have a credit score currently of 607 and I am an RN due to past divorce I had a few bad marks from past credit cards but now have paid everything off. I rent currently for 900 a month and one car payment of 425 now and my credit keeps climbing but I found my house I love now and it wont be on the market long especially at only asking price of 105000. thanks megan

  84. Shawntel July 10, 2013 at 12:36 pm #

    Hello, I am recently divorced and I am looking to purchase my first home. My current median score is 590. Will I be able to get approved for a mortgage?

  85. Keith Guyot July 10, 2013 at 2:10 pm #

    Hey Shawntel! We’ve forwarded your question to our Home Loan Experts! Have a good day!

  86. Angelique Williams July 12, 2013 at 7:55 pm #

    Hi have a middle score if 612. Can I get approved

  87. marti July 16, 2013 at 8:01 am #

    what is the minimum median score needed?

    thanks!

  88. allen July 17, 2013 at 3:15 pm #

    I am in search of a lender who issues FHA HUD 203k loan. I am looking at a property that is owned by hud and in need of repairs and rehabilitation. the total cost to purchase and rehab the property will be under $70,000.00. My credit score is 603. I have $7000 in savings for closing
    Please contact me by E-mail

  89. Keith Guyot July 17, 2013 at 3:36 pm #

    Hi Allen, I’ve forwarded your inquiry to our Home Loan Experts who will contact you via email. Thanks for reading!

  90. greg July 20, 2013 at 8:19 am #

    I have a credit score of around 590. I am currently renting for $1500 a month and would like to purchase the home I am renting for $225000. My income is $85000. Most of my credit issues are due to a sick child who was in and out of the hospital for a year. This caused my wife to cut down to 15 hours a week. This was 7 years ago and we are now just getting back on track. Is there anything you can do to help us?

  91. Keith Guyot July 22, 2013 at 8:38 am #

    Hi Greg! We’ve forwarded your question to our Home Loan Experts who should be in touch with you soon. Thanks for reading!

  92. Lauren July 24, 2013 at 1:14 pm #

    My fiance and I are going to be moving in order for him to take a new job. I will keep my current job and commute and he will be getting a substantial pay raise. We are wanting to buy a home when we move rather than rent. Our current montly income is around $3000. After my fiance’s promotion it will be higher. We rent right now for $700 a month and have monthly debt payments of $510, consisting of one credit card payment, one car payment, and both of our student loan payments. My credit score is only 613 and I do have 2 charge offs on my report, both from two years ago. His score is closer to 700. What type of financing might we qualify for?

  93. Keith Guyot July 24, 2013 at 1:26 pm #

    Hi Lauren, I’ve forwarded your question to our Home Loan Experts. They should be in touch soon! Thanks for reading!

  94. Shaun July 26, 2013 at 11:04 am #

    I currently have a 581 median score. Income is great. Score is low due to a divorce. Any chance I could get financed with you all?

  95. Victoria Araj July 26, 2013 at 1:24 pm #

    Hi Shaun, thanks for reaching out to us. I’ve shared your inquiry with one of our home loan experts who will contact you soon to see if we may be of assistance.

  96. marie July 26, 2013 at 3:12 pm #

    Been preapproved for a FHA loan from Quicken, do you offer FHA 203K loans yet?

  97. Josh Hutchins July 29, 2013 at 7:42 pm #

    Not really sure what my credit score is but I’m looking to buy my first home and would like to get pre approved before I go to far. Any help is greatly appreciated.

  98. Marie W August 5, 2013 at 8:48 pm #

    Hi I have a credit score of 592 and make $2000 each month before taxes with two incomes and want to get the highest amount loan to get into our first home…. without consolidating, what are my options and how much would I be able to get in a loan towards a first-time buyer house?

  99. Keith Guyot August 6, 2013 at 8:29 am #

    Hi Marie! We’ve forwarded your question to our Home Loan Experts. They should be in touch soon! Thanks for reading!

  100. Jessica Hollingsworth August 13, 2013 at 9:35 am #

    I am looking to get a home loan for no more then $120,000 my credit score is 582 I checked my credit and filed a dispute with all things that were in correct on my credit. I have more good then bad so I don’t know why it’s so low. My husband and I currently rent a home for $900 we afford it easily we have lived here for 4 years and just want to stop throwing our money down the drain and have something that is ours . I can come up with a down payment please someone help I don’t know where to start this will be the first time I have bought a home

  101. Keith Guyot August 13, 2013 at 9:38 am #

    Hi Jessica! I’ve forwarded your info to our Home Loan Experts who should be in touch shortly! Thanks for reading.

  102. Luke August 18, 2013 at 4:06 pm #

    Hi! I have a tough question, I have a credit score of 589 and self employed. My bank statements show great earnings this year. However, my past taxes reflect writeoffs to reduce my tax liability. I pay $1350/mo in rent now for the last two years and statements reflect this. A personal truck loan of $389 will be paid off in about two months. I have lines of credit (at least three) that are in good standing. Is there any thing that can be done for an fha loan?

  103. Keith Guyot August 19, 2013 at 8:50 am #

    Hey Luke! I’ve sent your question to our Home Loan Experts. It shouldn’t be too tough for them and they should be in touch with you soon. Thanks for reading!

  104. April August 19, 2013 at 9:14 pm #

    Quicken loans apparently does not have a 580 qualifying score for an FHA loan. I just got done speaking with an online rep who told me that I needed a score of 620 to qualify for an FHA loan.
    The house I want to purchase is 44,000.00, and I make about 1600 a month. I have excellent rental history and several revolving lines of credit in good standing. My credit score is 603 and my debt to income ratio is about 35%. I asked about quicken loans minimum requirement of 580 and he said “we have a 580 program, but in order to qualify you need a minimum score of 620.” The Rep did not really explain why I did not qualify, he just said my credit score was too low. I think this article is just a way to try and push the quicken loans credit repair program, because this is all the rep really tried to do after I asked about why I didn’t qualify for an FHA loan.

  105. Keith Guyot August 20, 2013 at 9:36 am #

    Hi April! I’m going to have someone dig into this for you so you get the answer that you deserve. Someone should be in touch with you soon! Thanks for reading!

  106. leny chavez August 20, 2013 at 5:32 pm #

    i’m desperate looking for a house i take about 2800 a month after taxes currently paying $1000 for rent but i want to own instead of renting. My score is low probably less than 600 not sure i havent checked. Can you help?

  107. Keith Guyot August 20, 2013 at 5:34 pm #

    Hey Leny! I’ve forwarded your concerns to our Home Loan Experts who should be in touch soon. Thanks for reading!

  108. Sue August 22, 2013 at 3:03 pm #

    Just found out that Bank of America was selling my mortgage to Green Tree. Had horrible 7 years with BoA but have heard worse things about Green Tree…We had some issues about 6 years ago that messed up credit but have been working at re building. Mortgage is current and no problems with that. What is the minimum credit score needed to qualify through Quicken Loans?

  109. Keith Guyot August 22, 2013 at 3:23 pm #

    Hi Sue! Sorry to hear about your experience with Bank of America. Because each program has different requirements, I’m going to forward your question to our Home Loan Experts so they can give you a personally tailored answer. Thanks for reading!

  110. Carrie August 28, 2013 at 10:04 pm #

    Can I get this type of loan if I’m not first time homeowner? It has been 5 yrs since we sold our second home and have been renting ever since. Our median score is 630, but there is a judgement due to a credit card that went unpaid. We are looking at a home for $35-$40grand with as little down as possible. Income is seasonal but with only 6 week gaps between the two jobs (hubby has 2yr history with both companies) gross monthly about $1900.

  111. Keith Guyot August 29, 2013 at 9:35 am #

    Hi Carrie! To give you the best answer possible, I’ve sent your questions to our Home Loan Experts who should be in touch with you soon. Thanks for reading!

  112. Dee September 2, 2013 at 5:43 pm #

    Little unhappy with you guys! Was first told could do the loan but I had to wait till Aug. I call back and another tells me no. What gives! Credit scores 667. I have allready found another (Flagstar bank) to work with. I just don’t appreciate being told to wait and then told no. The pulls affect my credit score each time you pulled. Not happy!

  113. Keith Guyot September 3, 2013 at 10:05 am #

    Hi Dee! We’re very sorry to hear about your experience. I’ve forwarded your concerns to our Home Loan Experts who will review your concerns and get back to you soon. Thanks for reading!

  114. Dale September 5, 2013 at 10:27 am #

    I came across your website. I am having a horrible time getting my credit score up. Stuff that was not on there before is now on there, 2 years later. (And this information is more than 4 years old). My middle score is 588, but the trouble I am having is that the credit bureaus, in letter after letter, refuse to remove the information from my file, (Equifax is the worst. There is a difference of 40 points between it and Transunion). I have been trying for more that 2 years to get some of this off, and almost to point of giving up if I will ever be able to own a home. Can you help?

  115. Keith Guyot September 5, 2013 at 10:56 am #

    Hi Dale! Dealing with you credit score can sometimes be difficult and frustrating. I’ve sent your concerns to our Home Loan Experts who will be reaching out to you soon. Thanks for reading!

  116. david s September 13, 2013 at 2:36 pm #

    Hi we are looking to buy a home at 270000 i make 120k credit score is 601 602 and 616 we also currently have the 3.5 down required. No late payments in 13 months can you help us

  117. Victoria Araj September 13, 2013 at 3:12 pm #

    Hi David, thanks for reaching out to us. We’ve shared your inquiry with one of our home loan experts who will contact you soon to see if we may be of assistance.

  118. Devin September 16, 2013 at 3:12 am #

    Please contact me

  119. Tamika September 17, 2013 at 8:25 am #

    Hello.. I’m trying to get an Fha 203k loan.. My middle score is 628.. I have been renting this property for 16 years and my landlord is willing to sell it to me for $30,000.00. I would like to borrow at least another $30,000.00 for repairs. I make over $40,000.00 a year, I’ve been at my job for 15 years. Do I qualify for 203k loan

  120. Keith Guyot September 18, 2013 at 8:56 am #

    Hi Tamika! I’ve forwarded your question to our Home Loan Experts so they can help you out. Thanks for reading!

  121. John Anderson September 21, 2013 at 6:24 pm #

    Can you do home loans with a 580 credit score? I was told you can’t, I already got approved for an FHA Loan by
    The Lenders Network but I wanted to compare rates with another Lender.

  122. Keith Guyot September 22, 2013 at 8:22 pm #

    Hi John! We’ve forwarded your question to our Home Loan Experts so they can give you an accurate answer. They should be in touch soon!

  123. James September 29, 2013 at 11:55 pm #

    Hello I’m a first time buyer and wonder could I qualify for a loan for 100k on a new home with a trans union score of 633

  124. Keith Guyot September 30, 2013 at 8:49 am #

    Hi James! I’ve forwarded your question to Home Loan Experts. They should be in touch with you soon! Thanks for reading!

  125. Stephanie Huff October 2, 2013 at 8:52 am #

    Hello my name is Stephanie and my credit score is 597. However, I do have collections on my credit report but I purchased a 2004 Ford Explorer about three years ago and paid it off in full early and have recently purchased a 2005 Honda accord. Would I be eligible to be approved for a home loan?

  126. Keith Guyot October 2, 2013 at 8:55 am #

    Hi Stephanie! We’ve sent your question to our Home Loan Experts who should be in touch with you soon! Thanks for reading!

  127. mark November 5, 2013 at 4:51 pm #

    Bait and Switch! try to call them up with a 580, they’ll tell you that you need a 620. Go elsewhere

  128. Keith Guyot November 5, 2013 at 4:55 pm #

    Hi Mark. We’re sorry to hear about your poor experience with us. I’ve forwarded your issue to our Home Loan Experts who are going to look into this. Thanks for reading.

  129. Brenda November 8, 2013 at 2:18 pm #

    Hi. Four years ago my husband and I did a Deed in Lieu on our home. We have been renting for the past four years at $1700.00 a month, never late. We are ready to be home owners again. We have a large down payment saved up. BUT…his credit score is 598 and mine is 611. His income with bonus is about $150,00.00 plus a year. We already know we will need a FHA loan because of the Deed in Lieu. Do you think we could secure a loan for $240,000.00?

  130. Keith Guyot November 8, 2013 at 2:35 pm #

    Hi Brenda! I’ve forwarded your question to our Home Loan Experts who should be able to give you an answer based on your information. They should be in touch with you soon!

  131. Johnny Carranza November 10, 2013 at 10:56 pm #

    Hello,
    I am looking to buy a home for less around 100K, My CS is 582 right now and hopfully increase since I have paid my car off in full (November was Last payment). I have about 6K in debt right now and am looking to pay off some more debt in the next few months. I have a 6 month plan right now to get myself qualified for a loan. I really need to guidance to get me over that last hump. Is this realistic of a goal? Can someone help? Thank you for your time. Johnny

  132. Keith Guyot November 11, 2013 at 9:21 am #

    Hi Johnny! I’ve forwarded your questions to our Home Loan Experts. They will try to help you out! Thanks for reading.

  133. Sarah December 15, 2013 at 8:45 pm #

    Hi- I was told to contact your company to get a FHA loan. My FICO score is. 589. With 2 things on my credit. Your representative stated he could not help me. I am looking to get a loan for 40k my husband and I live in a rural area and make 60k together yearly . We have a car loan (under 9k) and students loans… Can I get approved? Quicken loans Ran my credit score- 550, 589, 624

  134. Sarah December 16, 2013 at 8:23 am #

    Bull- I have a fico score of 589 and quicken loans told me they can not help me. My score has to be above 620. Your add is misleading since your people tell u other things. I was hoping to buy a home by spring- 1st time home buyer and only have a car loan as debt, have plenty of income- my husband and I make about 55k a year.

  135. Keith Guyot December 16, 2013 at 9:02 am #

    Hi Sarah! We’ve forwarded your info to our Home Loan Experts who should be in touch with you soon. Thanks for reading!

  136. Keith Guyot December 16, 2013 at 10:30 am #

    Hi Sarah, we’re going to have our Home Loan Experts look into this for you. They should be in touch with you soon.

  137. david December 30, 2013 at 2:56 pm #

    looking to purchase a home in michigan, im a first time home buyer and my credit score is 597, i have a 100% on time payment for all credit cards, what are my chances of getting a fha loan

  138. Keith Guyot December 30, 2013 at 2:58 pm #

    Hi David. I’ve forwarded your info to our Home Loan Experts who will reach out to you soon. Let us know if you have any other questions!

  139. Ricardo December 31, 2013 at 4:28 am #

    My wife and I have credit scores of 600,our annual income is between 75,000 and 80,000. We have been denied twice by one bank. Do you guys approve loans with our type of score?

  140. Keith Guyot December 31, 2013 at 9:11 am #

    Hey Ricardo,

    I’ve forwarded your info to our Home Loan Experts. They should be in touch with you soon!

    Have a good week!

  141. Corey Robinson January 6, 2014 at 2:03 pm #

    Hi my wife and I are trying to buy our first home. My credit score is currently a 595 am I make 31k annually. Would we qualify for and FHA loan. We currently rent for $850 a month and would love to have a home of our own.

    Thanks, Corey

  142. Keith Guyot January 6, 2014 at 3:15 pm #

    Hi Corey! I’ve forwarded your information to our Home Loan Experts who should be in touch with you soon! Have a great day.

  143. nikki January 8, 2014 at 9:10 pm #

    I need information @ an fha rehabilitation loan for a 30k property.I make 65k & my middle score is 644.

  144. Felicia January 9, 2014 at 9:18 am #

    Hello, my husband and I have lower credit scores, mine because of lack of credit his was good before he got laid off a few years ago. We are paying off the debt we accrued during his layoff. We have recently cleared quite a bit of debt and can afford a down payment of 10,000. Would we be able to qualify?

  145. Keith Guyot January 9, 2014 at 9:59 am #

    Hi Felicia! I’ve forwarded your question to our Home Loan Experts who should be in touch with you soon!

  146. Keith Guyot January 9, 2014 at 10:01 am #

    Hi Nikki!

    I’ve forwarded your request to our Home Loan Experts who will be in touch with you soon.

    Thanks for reading!

  147. Falon January 9, 2014 at 3:59 pm #

    My name is Falon and my husband and I want to buy a house, we are first time home buyers and really are just itching to get our own place. My husband makes 45,000 per year and his credit is not that great at all, we hired a credit specialist three months ago and since then his credit has dropped 72 pts bringing it from 612 down to 540. My credit, however, right now I think is around 573, but I do not work. We really want to buy a house and are wanting to know what we need to do to get this process going a little faster.

  148. Keith Guyot January 9, 2014 at 5:28 pm #

    Hi Falon! I’ve forwarded your info to our Home Loan Experts who should be in touch with you soon. In the mean time, the Zing blog has many articles about the home buying process!

  149. Ms January 13, 2014 at 3:47 pm #

    Hello I would love more information on your va and FHA loans please.

  150. Keith Guyot January 13, 2014 at 3:56 pm #

    Hi MS! I’ve forwarded your request to our Home Loan Experts who should be in touch with you soon!

  151. Ruth January 16, 2014 at 1:56 pm #

    I have a middle score of 589 and looking to buy a house for 42,000. I am putting 5% down I need a loan please can you help

  152. Keith Guyot January 16, 2014 at 1:57 pm #

    Hi Ruth! I’ve forwarded your info to our Home Loan Experts who should be in touch with you soon!

    Thanks for reading!

  153. Alexandra January 28, 2014 at 3:34 pm #

    My name is Alexandra, I currently have a Credit score of 606, every lender I speak too keeps telling me no, I am wondering if you can help me with a loan. Please email me asap.
    Thank you

  154. Victoria Araj January 28, 2014 at 6:40 pm #

    Hi Alexandra, thanks for contacting us, we’ve shared your inquiry with one of our home loan experts who will contact you to see if we may be of assistance. Thanks.

  155. Keith January 30, 2014 at 1:57 am #

    Looking to get a loan if 40k for an condo

  156. Kevin January 30, 2014 at 5:44 pm #

    Hi
    I’m looking for a condo loan of up to 65k (maybe less). I can put 20 to 30% down with a vs of 588. I have no debt other than 6k on an auto loan. Is this possible?

  157. Kevin January 30, 2014 at 8:45 pm #

    Hi
    My name is Kevin. I want to buy a condo for a max of 65k and have 25% down and a vs of 588. Can I be financed?

  158. Keith Guyot January 31, 2014 at 2:58 pm #

    Hi Kevin! We’ve forwarded your question to our Home Loan Experts who should be in touch with you soon!

  159. Christine Cook February 5, 2014 at 3:33 pm #

    I would like to qualify for a 30k home loan. I bring home 2,000 to 2,500 a month. Looking for a 15yr fixed mortgage, but I need some direction to fix my credit of 525. I have a year to fix my credit because the person selling the house is willing to wait until I am approved. Thank you!

  160. Victoria Araj February 5, 2014 at 3:47 pm #

    Hi Christine, thanks for reaching out to us, I have shared your inquiry with one of our home loan experts who will contact you. Thanks.

  161. Andrea February 7, 2014 at 10:59 am #

    Why does this advertisement say the minimum score required for FHA is 580, if in fact it is 620?

  162. Jamie Cason-Vanluven February 12, 2014 at 12:08 am #

    I am in LOVE with a home I found and I am trying to get a $150,000 loan hopefully with a payment thats not 1000$…

  163. Amy Payne February 12, 2014 at 1:55 pm #

    Hello, I am a first time home buyer and so is my fiance, and we are looking at a home that is in foreclosure and has many repairs needed to it. We need a loan but I have no credit and he has low credit. Do you think you could help? Please contact my email.

  164. Keith Guyot February 12, 2014 at 2:00 pm #

    Hi Amy!

    I’ve forwarded your questions to our Home Loan Experts who should be in touch with you soon! While you wait, I’d like to suggest our First-Time Home Buyer Google Hangout Series! You can find it here: http://www.quickenloans.com/blog/tag/first-time-home-buyer

    Have a great day!

  165. Nichole February 13, 2014 at 6:00 pm #

    Hi, my husband and I are wanting to purchase a home. We would be first time home buyers. We bring in after taxes roughly 3000 dollars a month, and have expenses of 380/month. I have horrible credit due to health expenses and multiple surgeries, as of September when we purchased a new car my credit score was 601 and my husband has no credit score. Are there any real options out there for us to purchase a home?

  166. Victoria Araj February 13, 2014 at 6:20 pm #

    Hi Nichole, thanks for reaching out to us. I’ve shared your inquiry with one of our home loan experts who will contact you to discuss further. Thanks and have a great day!

  167. C.L. February 13, 2014 at 10:42 pm #

    I am looking to become a first time home owner. I am interested in obtaining an FHA Loan. I have a credit score in the mid 500′s. I have gross income of $4800/month and I am looking at a foreclosed home that is selling for $49,400, but is appraised for $105,000. Where do I begin to try to get financed? I’ve read that if your score is low, you can sometimes get financed if you put down a larger down payment. Is this true?

  168. Keith Guyot February 13, 2014 at 10:47 pm #

    Hi C.L.! I’ve forwarded your information to our Home Loan Experts who should be reaching out to you soon. In the mean time, I highly recommend our awesome first-time home buyer guide. You can find it here: http://www.quickenloans.com/blog/home-buying-101-first-time-home-buyers-guide

    Have a good weekend!

  169. Larry Davidson March 6, 2014 at 8:35 am #

    I just got a new job making $90,000 base + commission. My wife is leaving her job to freelance (she is an expert in her field). We are both above 50 (barely) and I owned a home back in 1982 – 85ish and she has never owned a home.

    My credit score is over 700 and hers too (I believe).

    We want to know how much we could qualify for?

    We pay $479/mo/cars + $4-500/mo Credit cards (which can be reduced!). No other loans.
    Thanks
    Larry

  170. Keith Guyot March 6, 2014 at 9:19 am #

    Hi Larry! I’ve forwarded your question to our Home Loan Experts who should be in touch with you soon!

    Have a great day.

  171. Marlena March 6, 2014 at 11:36 am #

    Wanting to speak with someone about applying for a FHA loan

  172. Keith Guyot March 6, 2014 at 1:55 pm #

    Hi Marlena,

    I’ve forwarded your request to our Home Loan Experts who should be in touch with you soon!

    Have a good day!

  173. Brandi March 8, 2014 at 9:32 am #

    Hi! We are looking to get a mortgage…. My score is between 600 and 630…..depending what score you look at. I am a teacher, my income is 43000. We have been given the run around by several people. We pay 975 a month, now, for rent.

    Thanks!

  174. Keith Guyot March 9, 2014 at 5:16 pm #

    Hi Brandi!

    I’ve forwarded your information to our Home Loan Experts who should be reaching out to you soon.

    Have a great weekend!

  175. Sandra March 10, 2014 at 7:04 pm #

    Hello! I’ve been working on my credit for a few months getting it from 520 to 600. Will I qualify? I’m looking at several 2Br condos under 180k that would cost me less than what I pay in rent. I make a good income (56,000)

  176. carrie March 10, 2014 at 11:45 pm #

    have some questions m trying to get my credit score higher to get a home loan i think my score is 588 last time i checked please help me

  177. Brittany March 11, 2014 at 4:07 pm #

    Hello- I recently pulled all three of my credit reports and paid for one of them to show me my credit score which showed 640. I currently make $1840 monthly. I am looking to get pointed in the right direction in being able to buy a house within the next year and I have no idea where to even start.

    I have a couple of charge offs and a credit card which went into collections but those came off my credit report in Feb 2014 (as i was young and dumb). I have a truck now that I make a payments on but had to have a co signer for this and I started leasing that in August 2013.

    I am also married and my husband let his house go into forclosure back in June 2013 (he had the house before we got married) and I dont want his debts to be used against me as I am trying to get qualified for a house alone. Is this something that I could still do, and how could I go about getting approved for a FHA loan in Michigan under my own income and credit.

    Thank you.

  178. Keith Guyot March 11, 2014 at 4:28 pm #

    Hi Brittany,

    I’ve forwarded your info to our Home Loan Experts who should be in touch with you soon. Here are a few resources to help you along in your home buying journey:

    Home Buying 101: First-Time Home Buyer’s Guide

    All of our first-time home buyer posts

    Have a good day!

  179. I g March 18, 2014 at 8:22 pm #

    My TU fico is 603. I make 40-45k yearly. I have total monthly debt of 440. Is there any way I can obtain a home loan for 65-80k? How much of a downpayment may I need?

  180. Victoria Araj March 18, 2014 at 9:46 pm #

    Hi Ingrid, I’ve shared your inquiry with one of our home loan experts who will contact you to see if we may be of assistance, thanks.

  181. Micah March 27, 2014 at 7:23 pm #

    I am being relocated by my employer. We currently pay $1200 per month in rent and have been for 18 months. My credit score is 590 and I have been told the minimum is 620 to obtain financing. My annual household income is $115,000. I am searching for homes in my new location between $120-140k. My debt to income ratio is approximately 22%. Is it possible to obtain financing for this scenario?

  182. megan April 1, 2014 at 11:06 pm #

    After reading the article and several comments, I just want to put out there that Quicken, as with most other lenders will not lend to you if your score is below 620 on an FHA loan. Plus, even on top of that, pre-qualifying for a loan with a 620 score still doesn’t matter if there are certain “blemishes” showing in your report. This is the third year in a row that I will have tried to buy a house and may finally succeed. Researching all the options is the key. There are only a handful of lenders out there that will consider a 580 and finding them is like looking for a needle in a haystack. I recently had a lender that pulled a combined report (has everything from all 3 bureaus in 1 report), and was told I didn’t qualify for their programs at this time because of my score being low. She actually emailed me a copy of this report (for free!) so that I can review it. The biggest key she pointed out was that I have old collection accounts that are showing as being in dispute. She also advised me that no lender, even ones that will work with a 580 score, will lend to someone with those types of accounts. Her advice: contact the creditor, and the bureaus, and have the account status changed to remove the “account in dispute” tag. As long as your request is responded to in a prompt manner, this is a 30-day fix and can raise your score significantly.

    So, even for those of you out there with lender-acceptable scores, take a good, hard look at your reports before applying because that score alone still won’t get you very far if some other factor comes back out of whack.

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