First Time Home Buyer Florida Credit

FHA minimum credit score is 500. New FHA policy requires a minimum credit of 500 to buy a home. In the old days FHA did not require any credit score. These changes went in to effect in 2010.

To buy a home you will need a minimum credit score of 500.

Borrowers with credit score above 580 require a 3.5% down payment. The funds can be a gift from a family member and up to a 6% seller concession is allowed. Often, 12 months of verifiable rental history is required for credit score below 640.

If you have credit scores below 580 new FHA changes require a 10% down payment. All funds can be the borrower's own funds or gifts are allowed. Up to a 6% seller concession is allowed. Often, 12 months of verifiable rental history is required for credit score below 640. If no verifiable rental history 3 months reserves will be required.

What documentation will I need?

• Personal tax returns for the past 2 years
• Current pay stubs for the past month
• Bank statements for last 2 months (all pages)
• Latest retirement statement for each active account (all pages)
• Sales contract (purchase)
• Clear copy of Driver’s License (front and back)
• Clear copy of SS card (front and back)
• Addresses and loan information of other real estate owned (if any)

This Form cannot be submitted until the missing fields (labelled below in red) have been filled in
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Please note that all fields followed by an asterisk must be filled in.
Property State*
County of subject property*
How did you hear about us*
If Realtor - Realtor's Name
Property Type*
ZIP code of property*
Use of property *
Describe your Credit*
Have you ever declared bankruptcy, when was it discharged*
Do you have any foreclosures*
Have you ever had a short sale*
Are you requesting a loan with a spouse or co-borrower*
If yes, co borrower first name
Co borrower Last name
Co borrower Address
Co borrower social security number
Co borrower date of birth
Co borrower income
Purchase or Refinance*
Do you have 12 months verifiable rental or mortgage history*
Property value*
Loan Amount*
Your first name*
Your middle initial*
Your last name*
Please choose a suffix
Daytime/Work Phone*
Evening Phone*
Cell Phone*
What is your employment status *
What is your email address*
Current mailing address*
City*
State*
ZIP code*
How long have you lived at this address*
Date of birth*
Marital status*
Citizenship status*
Social Security #
What are your total monthly debt payments, excluding housing*
What is your monthly housing payment*
Annual Income*
How much do you have in checking, savings, stocks, bonds, mutual funds, 401K*
Please tell us about any special circumstances that may apply to your loan request and/or the best time for us to call you

We look forward to working with you

We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.

KEYWORDS:First Time Home Buyer Florida Credit, Florida Home Buyer,

www.MORTGAGE-WORLD.com, LLC is not an agency of the state or federal government and is not affiliated with the Federal Housing Administration. Licensee will not make any mortgage loan commitments or fund any mortgage loans under the advertised program. Licensed by the Florida Office of Financial Regulation MBR2317 Licensed by the N.J. Department of Banking and Insurance Nationwide Mortgage Licensing System ID 1630225 All loans arranged with third-party providers. www.MORTGAGE-WORLD.com, LLC 535 Bergen Blvd. Suite 2 Ridgefield NJ 07657 Call 888.958.5382