Take appropriate steps to obtain your mortgage Other benefits include: minimum payment and closing costs. for a down payment of less than 3 . 5% of the sale price of gifts for down payment and closing costs allowed. No reservations or necessary. the closing costs FHA regulated. Seller can credit up to 6% of the purchase price to the cost of buyers. Guidelines qualifying credit facilities, such as: minimum FICO credit score of 540. FHA will buy a house 2 after bankruptcy strong . FHA will buy a house 3 after locking. Read the rest of this entry »