See If You Qualify

Licensed in the State of Florida

Licensed in the State of New Jersey  


Prequalify For Mortgage Florida

Prequalify For Mortgage Florida

Prequalify for mortgage Florida

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%
  • 2013 FHA loan minimum credit is 530

No Credit History

Three lines of credit are necessary to apply for an FHA loan. However, in the event a borrower does not have sufficient credit on their credit report the FHA will allow substitute forms. FHA allows minimum trade lines if you have credit scores.

Late Payments

During an underwriter analysis of borrower credit, the overall pattern of credit behavior is being reviewed rather than isolated cases of slow payments. If a good payment pattern has been maintained, regardless of a specific period of financial difficulty preceded it, the borrower may escape disqualification.

Collection, Judgments, Federal Debts

A collection is minor in nature usually does not need to be paid off as a condition for loan approval. It is stated as such in FHA guidelines. Any judgments will have to be paid in full prior to closing. Borrowers who are delinquent on any federal debt, such as tax liens, student loans, etc., are not eligible.

Chapter 7 Bankruptcy

At least two years must have elapsed since the discharge date of the borrower and / or spouse's Chapter 7 Bankruptcy, according to FHA guidelines. This is not to be confused with the bankruptcy filing date. A full explanation will be required with the loan application. In order to qualify for an FHA loan, the borrower must qualify financially, have re-established good credit, and have a stable job.

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

Call Now, Our Staff is Available

888-958-4228

Apply Now!