See If You Qualify

Licensed in the State of Florida

Licensed in the State of New Jersey  


Minimum Credit Score For Mortgage

Minimum Credit Score For Mortgage

Minimum credit score for mortgage is 530.

FHA requires a minimum down-payment of 3.50% for borrowers with a minimum credit score of 580. FHA requires a minimum down-payment of 10.0% for borrowers with credit scores below 580.

FHA loans have been helping people become homeowners since 1934. The FHA insures the loan, so you can get a better deal.

* Low down-payments

* Low closing costs

* Easy credit qualifying

FHA loans are continuing to support the nation's housing market recovery.

Verified Funds

Borrowers with credit scores above 580 may use their own funds, a gift from a family member, rent credit or borrowed. If you will be using your own funds for the down-payment you will have to provide two recent months statements showing the funds in your account.

If the down-payment will be a gift a signed gift letter will be needed from the giver. Ability to give the gift will also be needed. A statement from the giver's account will be needed showing the funds available. Any and all gift funds must be documented with canceled checks or wire transfer.

If your credit scores are below 580 borrower may use their own funds, a gift from a family member, rent credit or borrowed. If you will be using your own funds for the down-payment you will have to provide two recent months statements showing the funds in your account.

Credit

January 20, 2010 - FHA announced a set of policy changes to strengthen the FHA. The changes announced are the latest in a series of changes enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

The FHA has taken the following step:

  • Update the combination of FICO scores and down payments for new borrowers
  • New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program
  • New borrowers with less than a 580 FICO score will be required to put down at least 10%
  • Minimum credit score for an FHA loan is 530. 

Call us 888.958.4228

Application

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*
Internet
Realtor
Referral
Other
If Realtor - Realtor's Name
Purchase or Refinance*
When do you want to close*
Describe your Credit*
Property type*
Occupancy*
Loan type*
Have you ever declared bankruptcy, when was it discharged*
Do you have any foreclosures*
Have you ever had a short sale*
Do you have any collection accounts, excludung medical*
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*
Citizenship status*
Social Security #*
Marital status*
Are you requesting a loan with a spouse or Co-borrower*
If Co-borrower, Co-borrower first name
Co-borrower last name
Co-borrower current mailing address
City
State
Zip code
Co-borrower date of birth
Co-borrower Social Security #
What are your total monthly debt payments, excluding housing*
What is your monthly housing payment*
Annual Income*
stocks, bonds, mutual funds, 401K checking and savings*
How much do you have in 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.

Call us 888.958.4228



Minimum Credit Score Needed

to Buy a Home or Refinance

Apply Now!

FHA

Requires a minimum credit score of 530 to buy a home or refinance

FHA minimum

credit score 530

VA

Requires a minimum credit score of 530 to buy a home or refinance

VA minimum

credit score 530

Fannie Mae

Requires a minimum credit score of 620 to buy a home or refinance

Fannie Mae minimum

credit score 620

Freddie Mac

Requires a minimum credit score of 620 to buy a home or refinance

Freddie Mac minimum

credit score 620

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888-958-4228

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