First Time Home Buyer Program

Florida First Time Home Buyer Program

Florida first time home buyer program. FHA guidelines requires a minimum credit score of 530 for all loans.

FHA guidelines allows a borrower with a credit score of 580 to buy a home with only a 3.5% down payment. FHA guidelines allows a borrower with a minimum credit score of 580 to buy a home using their own funds for a down payment or the down payment funds can be a gift from a family member.

FHA guidelines allows a home buyer with a minimum credit score of 500 up to a 6% seller's concession to pay for closing cost. The seller's concession must be written into the sales contract.

Home buyers with a credit score below 580 are required to make a 10% down payment. FHA allows you to buy a home using own funds for a down payment or the down payment funds can be a gift from a family member.

Rental History

12 months of on time rental history history will be required for scores below 620. If you do not have verifiable payment history up to 6 months of reserves may be required. Reserves must be the borrower's own funds. Cancelled rent checks or management company verification are acceptable.

Generally, a borrower who has made timely payments for the last 12 months serves as a guide and demonstrates their willingness to repay future credit obligations. New FHA Policy changes require minimum credit score to be 580 for 3.5% down payment. These credit score requirements went into effect in the spring 2010.

However, most individual lenders and banks will require credit scores higher than 640, we don't.

In fact, even if you have had credit problems, such as a bankruptcy, foreclosure, short sale, repossession, it's easier for you to qualify for an FHA loan than a for a conventional loan. Credit scores down to 530 are accepted if there are compensating factors that offset the credit risk.

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Please note that all fields followed by an asterisk must be filled in.
Property State*
County of subject property*
Purchase or Refinance*
When do you want to close*
Describe your Credit*
Do you have 12 months verifiable rental or mortgage history*
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*
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*
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

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Minimum Credit Score to buy a house or refinance

* 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 Credit Score

Requires a minimum credit score of 500 to buy a home or refinance

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Collection accounts

A collection is minor in nature usually does not need to be paid off as a condition for loan approval


Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date


Foreclosure must have been resolved for at least 3 years 

  • Government loan: Seasoning is determined by the date the claim was paid
  • Loans other than Government: Seasoning is determined by the date of sale the lender sold the property

Short Sale

FHA guidelines requires three year past from the date of sale of the property

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