Cash Out Refinance Minimum Credit Score Florida  ·  Licensed in NJ · CT · FL  ·  MLB1987  ·  NMLS #1630225

Cash Out Refinance Minimum Credit Score Florida — 2026 Requirements by Loan Type

The cash out refinance minimum credit score in Florida is 500 for FHA and VA, 620 for Conventional, and 600 for Non-QM bank statement programs. Jumbo starts at 660. What you can take out depends on the program: FHA and Conventional cap at 80% of your home’s appraised value, VA goes to 100%. If you are under 620, FHA is the usual route — and its 80% cap is available all the way down to a 500 score.

Last updated August 2026 · reviewed by a licensed mortgage broker

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500Minimum Credit Score
FHA & VA Cash Out
80%Max FHA Cash Out LTV
Available At 500
21-45Days To Close
Under 30 With Docs
12 MoNo Mortgage Lates
640 FICO And Below


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The minimum credit score for a cash out refinance in Florida is 500 on FHA and 620 on conventional. Below is the credit score required for every cash out program in Florida.

What Is the Minimum Credit Score for a Cash Out Refinance in Florida?

The cash out refinance minimum credit score in Florida depends on which loan program you use. FHA cash out allows scores as low as 500 with an 80% LTV limit, making it the most accessible option for Florida homeowners who are still rebuilding credit. Conventional cash out starts at 620 and caps at 80% LTV. VA cash out is available to eligible veterans with scores from 500 and allows up to 100% LTV — the strongest equity extraction on the market. Non-QM and bank statement programs accept scores from 600 at up to 80% LTV and do not require W-2s or tax returns. The CFPB cash out refinance guide explains how these programs work in plain language.

As a licensed Florida mortgage broker, we shop your file across wholesale lenders simultaneously. That means you get competing offers on your cash out refinance credit score scenario without filling out multiple applications. Whether your score is 510 or 750, we find the program that delivers the most cash at the lowest available rate.

Score below 620? You may still qualify for a Florida cash out refinance under FHA guidelines. Tell us your current score and home value and we will run your numbers. Start your free application.


Side-by-Side Comparison

Florida Cash Out Refinance Credit Score Requirements by Program

This table shows the minimum FICO score, maximum LTV, and key requirements for each cash out refinance program available in Florida in 2026.

Loan Type Min. Credit Score Max LTV Florida-Specific Notes
FHA Cash Out 500 80% Primary residence only; 12-month occupancy required; popular in Orlando and Tampa markets
VA Cash Out 500+ 100% Veterans and active duty; strong demand in Jacksonville and Pensacola; no mortgage insurance
Conventional 620 80% Primary, second home, or investment; ideal for FL condo owners eliminating MIP
Non-QM / Bank Statement 600 80% Self-employed borrowers; popular in Miami and South Florida; no tax returns required
DSCR (Investors) 600 80% Qualifies on rental income only; no personal income docs; popular with FL landlords
Jumbo Cash Out 660+ 70–75% Loan amounts above $832,750; common in Palm Beach, Brickell, and Naples markets

All Your Florida Options

Florida Cash Out Refi Programs by Credit Score Range

The right program for your Florida cash out refinance depends on your credit score, equity, and property type. Here is what is available in each score range.

Scores 500 – 599
FHA Cash Out at 500 FICO
With a score between 500 and 599 you still qualify for FHA cash out in Florida at the full 80% LTV, the same cap that applies at higher scores. That means you need at least 20% equity. MIP is required for the life of the loan, but for homes that have appreciated, this is a real path to cash.
What Affects Your Rate Below 580
Below 580, lenders look at your full picture: payment history, equity, reserves, and time since any derogatory events. Borrowers with solid equity and a clean 12-month mortgage history often get approved even with older collections. Our wholesale lenders evaluate the full file, not just the score.
Score Building Strategy
If you are at 490 today, targeted credit moves can push you past 500 within 60 days. Rapid rescore is sometimes available for immediate verified corrections. See our Bad Credit Mortgage Florida page for more on timing.
FHA at Full 80% LTV
At 500 you unlock the full FHA cash out at 80% LTV, which is the most cash any government program allows relative to your home’s value. For a Florida home worth $400,000, that means a potential $340,000 new loan — netting up to $90,000 after paying off a $250,000 balance. MIP is required but this remains one of the most powerful cash extraction tools for borrowers in this score range.
VA Cash Out for FL Veterans
Florida has one of the largest veteran populations in the country. At 500 you qualify for VA cash out, which allows 100% LTV with no mortgage insurance. That makes it the single best program for eligible Florida veterans at this score range. The VA cash out loan overview covers the Certificate of Eligibility requirement and Type I vs. Type II cash out distinctions.
Scores 600 – 619
Non-QM & Bank Statement at 600
Self-employed Florida borrowers often show reduced income on tax returns due to write-offs. A bank statement cash out refinance qualifies on 12 or 24 months of deposits instead. Available at 600 FICO, up to 80% LTV. Common in Miami and South Florida among business owners who prefer not to use personal income documentation.
DSCR Cash Out for FL Investors
Florida rental property owners use DSCR cash out refinancing to pull equity without income docs. The loan qualifies based on whether rental income covers the new monthly payment. Available at 600 FICO, up to 80% LTV. Popular with Orlando short-term rental investors and South Florida landlords. See our Non-QM Mortgage page for details.
Scores 620 and Above
Conventional Cash Out Florida
At 620 you qualify for Conventional cash out at 80% LTV on primary residences and 75% on investment properties. No MIP, no funding fee. Florida condo owners with existing FHA loans often use a Conventional cash out to eliminate MIP and reduce their monthly payment. Fannie Mae equity research shows Conventional cash out at multi-year highs.
Just Below 620 — What to Do
If your middle score is 615 or 618, you are close to the Conventional threshold. Paying down one revolving account can close that gap in 30 to 60 days. Alternatively, FHA at 80% LTV may give you more cash than Conventional at 80% LTV depending on your current balance — the math matters more than the label.

Cash Out Refinance Minimum Credit Score Florida — 2026 Program Comparison | Mortgage-World.com
Cash Out Refinance Minimum Credit Score — Florida 2026FHA Cash OutMin: 50080% LTVVA Cash OutMin: 500100% LTVConventionalMin: 62080% LTVNon-QM / Bank StmtMin: 60080% LTVJumbo Cash OutMin: 660+70-75% LTVMortgage-World.com | Licensed FL Mortgage Broker | NMLS #1630225 | FL License MLB 1987


Where We Lend in Florida

Where We Lend — Miami, Orlando, Tampa & Statewide

Florida homeowners across the state have seen significant appreciation since 2020, and many are sitting on equity they have not yet accessed. We are licensed statewide and work with wholesale lenders that understand Florida’s condo approval rules, flood insurance requirements, and the unique characteristics of short-term rental properties. The HUD homeownership resources page is a useful starting point for any borrower weighing their options.

South Florida
Miami, Fort Lauderdale, and West Palm Beach homeowners use Florida cash out refinancing to fund business capital or renovations. DSCR and bank statement programs are popular here among self-employed borrowers. Condo cash out is available for approved buildings including select Brickell high-rises.
Central Florida
Orlando and Tampa homeowners who purchased between 2018 and 2021 often carry 40% or more equity. Conventional and FHA cash out refinancing are strong options here. Short-term rental investors in Kissimmee and Daytona use DSCR cash out to grow portfolios using existing equity.
North & Panhandle Florida
Jacksonville has one of the highest veteran concentrations in Florida, making VA cash out a natural fit. VA allows 100% LTV with no mortgage insurance — most lenders require 500. Pensacola, Panama City, and Tallahassee borrowers also access FHA and Conventional cash out programs through our wholesale network.
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Frequently Asked Questions

Cash Out Refinance Minimum Credit Score Florida — FAQ

What is the minimum credit score for a cash out refinance in Florida?
The minimum credit score for a cash out refinance in Florida is 500 for FHA cash out (at the full 80% LTV), 500 for VA cash out (for eligible veterans), 620 for Conventional cash out, and 600 for Non-QM bank statement and DSCR programs. Jumbo cash out refinancing in Florida typically requires 660 or higher. The exact threshold varies by lender overlay, so your effective minimum may be slightly higher depending on which wholesale lender your file is matched to.
Can I do a cash out refinance in Florida with a 580 credit score?
Yes. FHA cash out goes to 80% LTV at 580, and it goes to 80% at 500 too. The cap does not move with your score, so 580 is not a threshold you have to clear to get the full amount. Your file is manually underwritten either way, because every FHA loan at or below 640 FICO is. 580 buys you room on the ratios. At 580 and up, a manual file can go past the standard 31/43 when compensating factors are documented. Either tier needs 12 months of mortgage or rental history with no 30-day lates. Veterans at 580 also qualify for VA cash out at 100% LTV with no mortgage insurance. Conventional cash out still needs 620, so at 580 that one is out for now.
Does Florida have any state-specific credit score requirements for cash out refinancing?
Florida does not impose state-level minimum credit score requirements for cash out refinancing. The minimums are set by the loan program guidelines (FHA, VA, Fannie Mae/Freddie Mac for Conventional) and individual lender overlays. However, Florida’s high condo concentration and flood insurance requirements can affect which programs and lenders are available for a specific property, which is why working with a licensed Florida broker who knows the market is important.
How much cash can I take out in a Florida cash out refinance?
The maximum cash you can receive depends on your home’s appraised value, current loan balance, and LTV limit by program. Multiply your home’s value by the LTV limit (80% Conventional, 80% FHA, 100% VA, 80% Non-QM) and subtract your current balance. For example, a Florida home worth $450,000 on a Conventional cash out at 80% LTV gives a new loan of $360,000 — minus a $250,000 existing balance equals $110,000 before closing costs.
Can a self-employed Florida borrower get a cash out refinance?
Yes. Self-employed Florida borrowers who do not qualify under standard income documentation have two primary options: the bank statement cash out refinance (12 or 24 months of deposits) or the asset-based program (qualifies on liquid assets rather than income). Both require a minimum 600 credit score and cap at 80% LTV. These are Non-QM programs not available at retail banks, which is why working with a broker who has access to wholesale Non-QM lenders matters.
How long does a cash out refinance take to close in Florida?
Most Florida cash out refinances close in 21 to 45 days. The appraisal is typically the longest step, and in some Florida markets with high volume it can take one to two weeks to schedule. Borrowers who submit complete documents quickly often close in under 30 days. VA loans may require a few additional days for the VA appraisal and Certificate of Eligibility confirmation. Florida primary residence refinances also carry a mandatory three-day right of rescission after closing before funds are disbursed.
How much equity do I need for a cash out refinance in Florida?
Enough to stay inside your program’s LTV cap. FHA, Conventional, and Non-QM cash out all top out at 80% of the appraised value, so you need at least 20% equity left after the new loan. VA is the exception and goes to 100% for eligible veterans. If your score sits between 500 and 599 the 80% cap still applies — the equity requirement does not change, only the pricing does.
Does a Florida cash out refinance require mortgage insurance?
It depends on the program. FHA cash out carries mortgage insurance for the life of the loan no matter how much equity you have, and that is the cost to weigh against its 500 minimum. VA cash out has no mortgage insurance at all. Conventional at 80% LTV does not need private mortgage insurance either, because 80% is exactly the point where it comes off.
Can I do a cash out refinance on a Florida condo?
Often, but the building matters as much as your file. Florida has a high concentration of condos, and each program has its own project approval rules covering owner-occupancy ratios, reserves, and pending litigation. A unit that qualifies under one program can be declined under another. The project review runs alongside your credit and income review rather than after it, and flood insurance requirements can narrow the options further in coastal buildings.
What documents do I need for a Florida cash out refinance?
For a standard file: recent pay stubs, 2 years of W-2s or tax returns, 2 months of bank statements, your current mortgage statement, and homeowners and flood insurance declarations. Self-employed borrowers using a bank statement program provide 12 or 24 months of deposits instead of tax returns. An appraisal is ordered on every file and is usually the longest step, so getting your documents in early is what keeps a file inside 30 days.

More on cash out refinancing: Cash out refinance overview · Florida cash-out refinance · Cash out with a 500 credit score.

Related Resources

Which Florida Cash Out Route Fits Your Score?

Minimum score by program500 FHA and VA, 620 Conventional, 600 Non-QMYou are hereFHA cash out refinance80% LTV, available down to a 500 scoreCompareFlorida FHA loanFull FHA guidelines for Florida buyersCompareFlorida Non-QM loansBank statement and asset-based, from 600Compare
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Find out which Florida cash out program your score reaches

A licensed loan officer takes your score, your equity, and your property type, and tells you which programs you qualify for today and what LTV each one allows. You will get the cash figure after closing costs, not before them. And if your score sits just under the next threshold, you will hear that too.

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Cash Out Refinance Minimum Credit Score Florida guide by Chris Luis, Broker/Owner of Mortgage-World.com, NMLS #1630225

Written and reviewed by Chris Luis, Broker/Owner of Mortgage-World.com, NMLS #1630225. About the author

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