A job Holes and What they Imply to you personally What’s a keen FHA Financial? FHA fund is actually sponsored mortgages which have the lowest downpayment and flexible credit requirements. They truly are always purchase unmarried and multi-equipment homes, recognized condos and you may townhomes, and also cellular and you may are created belongings. Applicants having FHA Money Generally, you’ll be able to qualify for a keen FHA loan when you have no less than an excellent 580 credit rating and you will sufficient discounts otherwise gift funds so you can safety at the very least an excellent 3.5% downpayment.