FHA is thinking about changing their minimum credit score requirements for loans. In the meantime, lenders are adding their overlay on top of FHA. So, what this means is that although a loan will eligible for FHA insurance with a score of 580, they may impose a minimum of 640. MOST lenders today are 620. Many are moving to 640 and even 680!! This is why it is important to work with a broker that has a number of outlets. Otherwise, you may be told “NO” by your favorite lender on the street corner, when you could have been told “YES” and taken advantage of the low interest rates, tax credits and other incentives.