florida

FHA, VA, CONVENTIONAL FLORIDA MORTGAGE COMPARISON

As Florida-mortgage-lenders.com, we operate with a simple philosophy: identify the best Florida mortgage for each  Florida loan applicant’s unique circumstance and deliver the best service throughout the Florida mortgage process. This straightforward approach has attracted loyal Florida mortgage applicants who return time and again to obtain their Florida mortgage financing. This same formula has helped us grow to become one of Florida’s mortgage lenders. Whatever your needs chances are we have the right Florida mortgage for you. 

 

Below you will find outline some of the differences regarding some of the more popular Florida mortgage programs.


Benefits

FHA

VA

CONVENTIONAL

Down payment required 

3.5%

0%

5%

 

 

Credit requirements

 

Minimum credit score

580  = 3.5% down payment.

530 for 10% down payment.

No Credit Score Ok!

 

 

Minimum Credit Score

(Usually 620)

No Credit Score OK!

 

Minimum Credit Score

(Usually 620)

 

Post-Bankruptcy Qualifying

Can Qualify after

2 years after chapter 7

1 year after a chapter 13.

Can Qualify after

2 years.

Can Qualify after

4 years.

Post- Foreclosure qualifying

Can qualify after 3 years

Can qualify after 3 years

Can qualify after 7 years.

 

Post Short sale Qualifying

Can qualify after 3 years if late on payments if current at the time of short sale qualify now.

Can qualify after 3 years if late on payments if current at the time of short sale qualify  now.

Can qualify after 2 years. Loan to Value restrictions may apply.

 

Down payment and Closing 

100% of your down payment can come from family gift and the seller can credit you up to 6% to cover closing cost.

100% financing the seller can credit you up to 4% to cover your closing cost and prepaid.

100% downpayment can come from gifts. 

 

 

APPLY NOW

 

APPLY NOW

 

APPLY NOW

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CREDIT REQUIREMENTS

FHA MORTGAGE

550 MIN FICO

PORTFOLIO MORTGAGE

NO MINIMUM

VA MORTGAGE

550 MIN FICO SCORE 

USDA LOANS

580 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

CALL NOW!

954-667-9110

Apply Now!

CLICK HERE
Reviews on Zillow
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
5.0/5.0
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251