Federal Housing Agency (FHA) loans are insured by the FHA and allow homebuyers to buy a home with less than 20 percent down. If your credit score is between 500 and 580, you can put 10 percent down. If it’s above 580, you can put as little as 3.5 percent down. How much house you can afford is still contingent on your other finances, but by lowering your down payment and insuring your loan, FHA loans enable lower income people to purchase homes when they may not qualify for a conventional bank loan. You’ll need to use a FHA loan calculator to find out how much you specifically can afford.