First Time Home Buyer Loan Florida
There are several types of First Time Home Buyer Loan Florida that you may qualify for. Each program has different down payment, credit score, property type and loan-to-value requirements.
Fannie Mae and Freddie Mac have several programs for first time home buyers with a low down payment.
Fannie Mae and Freddie Mac require a minimum credit score of 620 to buy a home. Their mission is to help ensure that home buyers and home owners have access to mortgage financing.
Government Loans
There are several types of government loan programs that you may qualify for First Time Home Buyer Loan Florida . Each program has different down payment, credit score, property type and loan-to-value requirements
FHA requires a minimum credit score of 530. There are no income limits like you may find with first time home buyer programs. However, there are limits on how much you can borrow.
HUD's mission is to support the nation’s housing market.
VA Direct Home Loan programs basic intention is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment.
USDA Home Loan program primarily used to help low-income individuals or households purchase homes in rural areas.The Office of Rural Development (RD) is an agency with the United States Department of Agriculture which runs programs intended to improve the economy and quality of life in rural America by offering 100% financing.
Portfolio loans require a minimum credit score 640. A portfolio loan is
a loan that is made by a lender that does NOT sell the loan to the Fannie Mae and Freddie Mac. Because they don’t sell the
loan off to Freddie or Fannie, they don’t have to follow any of the requirements that Fannie and Freddie have. Examples of portfolio loans are jumbo loans, stated income loans, loans for foreign nationals and loans for investment properties.
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We look forward to working with you.
Call us 888-958-5382
www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.
We look forward to working with you.
KEYWORDS: First Time Home Buyer Loan Florida,
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800.516.9166
Minimum Credit Score Needed
to Buy a Home
Fannie Mae
Requires a minimum credit score of 620 to buy a home
Freddie Mac
Requires a minimum credit score of 620 to buy a home
FHA
Requires a minimum credit score of 530 to buy a home
VA
Requires a minimum credit score of 500 to buy a home
Call Now, Our Staff is Available
888-958-5382