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Yes, this is a fair credit score.
Poor would probably be a better adjective to describe 580. Fair Isaac describes anything as below 550 to be "awful".
580-679 is considered an average FICO score
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If you have some credit then you will typically need a minimum middle credit score of 580 to qualify for a FHA loan.
It is hard to qualify for a mortgage with a Fico score of 567. Most lenders, including FHA, require individuals to have a minimum Fico score of 580 to qualify for a mortgage.
You need at least a credit score of 660 to qualify for a home loan For a FHA refinance or purchase the minimum credit score is 620. There are some lenders that will go down to a 580 credit but it just depends on some other factors such as debt to income, loan to value, etc. Veronica Rodrigues Voyage Home Loans
A 580 credit score would be considered "poor". The national average before the economy imploded was 670. Scores in the low to mid 600's were "below average" or "fair", scores in the high 600s and low 700s were "good" or "average" and above that was considered excellent to varying degrees.
A score above 800 is exceptional. 749-799 is very good. 670-749 is good. 580 to 669 is fair. 579 and lower is poor.
580 + 580 = 1160
35% of 580= 35% * 580= 0.35 * 580= 203