💰Mortgages 🙏 Minimum Credit Scores The average American has a FICO credit score of 700, but your credit score alone does not tell you much about where you stand in getting a mortgage. Going to a traditional bank, like Chase or Wells Fargo, you will need @ a 700 score to get approved for a conventional loan and 620 to 640 for an FHA. Not so if you go with a mortgage broker, all you need is 580 for an FHA at 3.5% down and 620 for a conventional. Conventional – First Time Home Buyers – 3% down – 620; Others – 5% Down – 620 – really 680 and near perfect credit the past 2 years. FHA – 3.5% down – 580. FHA – 10% down – 500.USDA $0 down 580.VA – $0 Down – 500. Bank Statements for Income – 500. #MinimumDownPayment, #CreditScoreforMortage, #CreditScore, #FHAMortgages, #BankStatementMortgages, #SelfEmployed, #SelfEmployedMortgages, #FloridaRealEstate, #FloridaHomeoftheDay, #FloridaHomes, #GetaMortgage, #FirstTimeHomebuyer, #HistoricFlorida, #VintageFlorida, #Mortgage, #FloridaMortgageBroker, #SarasotaFlorida, #FloridaHistory, #HouseHunting, #Homebuyers, #SarasotaRealEstate, #TampaRealEstate, #OrlandoRealEstate, #MiamiRealEstate,#JacksonvilleRealEstate, #RealEstate https://www.instagram.com/p/BxhZ2nhn78b/?igshid=43ko93mf8ndc