- – Gift Funds For Your FHA Down payment. fha loans require a 3.5% down payment. However, the good news is that you can get that gifted to you by someone else. There are strict guidelines as to where or who these funds can come from. The approved sources are as follows: A family member; Your employer; A credit union; A charitable organization
A credit score for an FHA loan must be at least 500. To qualify for the lowest down payment, it will need to be 580 or higher. Hal M. Bundrick, CFPDecember 19, 2018 At NerdWallet, we strive to.