Licensed in the State of Florida

Licensed in the State of New Jersey


1st National Bank of South Florida

1st National Bank of South Florida


FHA after bankruptcy

FHA after foreclosure

FHA after short sale


What's the minimum credit score for an FHA mortgage?

The answer is. It depends on who you ask.

All the major banks 1st National Bank of South Florida , Wells Fargo, Bank of America, Chase, Citigroup, etc. have minimum credit score requirements. When you apply for an FHA mortgage at a major bank and they tell you their minimum credit score requirement is 640. This does not mean that it's FHA's minimum credit score. It means that they are the bank's minimum credit score requirements.

After the financial crisis of 2008 all the major banks raised their standards for approving FHA mortgages. Because the banks make the rules for loans they will approve, they may require a minimum credit score of 640 for their loans. These guidelines are the bank's guidelines. What this means is, all the major banks including 1st National Bank of South Florida, Wells Fargo, Bank of America, Chase, Citigroup, etc. banks make the rules for loans they will approve.

Mortgage World Home Loans

Mortgage World Home Loans is a mortgage company licensed in the state of Florida and offers home loans in Florida. Mortgage World Home Loans is an online mortgage company specializing in FHA loans for first time home buyers:

  • FHA requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment
  • FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%
  • FHA minimum credit score is 500

FHA loans have been helping people become homeowners since 1934. A perfect credit score is not needed for an FHA loan approval. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to get an FHA loan than a conventional loan.

FHA allows a home buyer to make a down payment of 3.50% and a seller contribution of up to 6% for closing costs with only a 580 minimum credit score. Home buyers with credit a score below 580 must make a minimum 10.0% down payment of the purchase price and a seller concession of up to 6% to pay for closing cost is allowed.

The funds may be the borrower's own funds, a gift from a family member, rent credit or borrowed. FHA regulates some of the closing costs associated with a FHA loan.

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FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan

FHA loan requirements - ‎FHA loan limits - ‎FHA loans - ‎FHA Streamline


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What's the minimum score needed to buy a house or refinance


FHA loans

FHA requires a minimum 500 credit score to buy a house or refinance

500 credit score


VA loans

VA requires a minimum 500 credit score to buy a house or refinance

500 credit score


USDA loans

USDA requires a minimum 580 credit score to buy a house or refinance

580 credit score


Fannie Mae

Fannie Mae requires a minimum 620 credit score to buy a house 

620 credit score


Freddie Mac

Freddie Mac requires a minimum 620 credit score to buy a house

620 credit score


HARP refinance

HARP requires no minimum credit score to refinance

No minimum credit score


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