While slightly higher than last year, average FICO credit scores for FHA and conventional loans are still lower since 2012, sitting at 757 for conventional and 688 for FHA. Down payments are still low as well. Thanks to delays in enacting portions of the Frank-Dodd Act you can still get a mortgage with 3% down, especially with FHA (83% are 3% or less). So if you are considering purchasing a home in the league city, friendswood, seabrook, kemah, pearland, or the greater clear lake area, the ability for you to obtain a mortgage has never been better even if you don’t have perfect credit or a large downpayment!
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