Many FL home buyers are calling to simply ask what current credit score requirements are for Fannie Mae, FHA or other types of home loan financing.  Generally speaking, in today’s restrictive lending environment, FL home buyers need to have established a good credit history usually evidenced with favorable credit scores.  There are exceptions to today’s FL mortgage tighter qualifying credit scores and Veterans are included.

When a Veteran seeks to purchase their next or first FL home mortgage; they can enjoy a little breathing room when it comes to credit score quailfying.  As long as the amouont borrowed is $417,000 or less; there may not be a credit score minimm requirement.  Good news for Veterans who may have run into making slower credit card payments due to a temporary job loss or unexpected circumstances. 

Remember whether a FL first time home buyer or moving up to a larger home; qualified US Veterans have advantages with a VA Home Loan over other FL mortgage options, including:

• Save more money with no down payment requirement for loan amounts up $417k (Monroe County allows up to $425k)
• Enjoy lower mortgage payments with no monthly mortgage insurance
• Easier to qualify with less restrictive credit score requirements (Bankruptcies under 2 years may be considered)
• Save even more as you could receive up to 4% of your contract price towards closing costs, from allowable contributors

For more information with your next FL VA home loan, feel free to contact me directly at info@beechtreemortgage.com.

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