Credit Score Needed To Buy a Home in Florida — 2026 Minimums by Loan Program

FHA loans require a minimum 500 credit score with 10% down, or 580 with 3.5% down. The maximum debt-to-income ratio is 43% below 580; from a 580 score it can reach 56.99% with compensating factors such as reserves, residual income, or a strong payment history. Every FHA loan carries a 1.75% upfront mortgage insurance premium added to the loan balance, plus an annual MIP that remains for the life of the loan if less than 10% is put down. FHA loans in Florida are owner-occupied only, and the property must meet FHA minimum property standards at appraisal. The 2026 FHA loan limit for most Florida counties is $541,287, with high-cost counties like Monroe reaching $990,150. See our Florida FHA loan page for full details.

VA loans are available to eligible Florida veterans, active-duty service members, and surviving spouses through the Department of Veterans Affairs. The minimum credit score we work with is 500. No down payment is required, and there is no monthly mortgage insurance — making VA loans the most cost-effective option for Florida veterans who qualify. A VA funding fee applies and can be financed into the loan. Full entitlement borrowers face no VA loan limit. A Certificate of Eligibility (COE) is required and we can help you obtain it. See our Florida VA loan page for complete guidelines.

Conventional loans follow Fannie Mae and Freddie Mac guidelines, and lenders require 620 on top of them — a lender floor, not an agency rule. The minimum down payment is 3% with private mortgage insurance, which can be canceled on request at 80% of original value and ends automatically at 78%. The maximum DTI is 49.99%. Florida buyers using conventional financing get loan limits up to $832,750, and up to $990,150 in Monroe County — the only Florida county above the standard limit. Unlike FHA, a conventional appraisal does not require the property to meet condition standards beyond what a standard appraisal would flag — making it the better choice for older Florida homes or properties with minor deferred maintenance. See our Florida conventional loan page for details.

Non-QM loans are designed for Florida buyers who do not fit conventional or FHA income documentation requirements. This includes self-employed borrowers, real estate investors, retirees using asset depletion, and foreign nationals. The minimum credit score is 600 with alternative documentation. Income can be documented using 12 or 24 months of personal or business bank statements, a profit and loss statement, assets only, or DSCR (Debt Service Coverage Ratio) for investment properties. Down payments typically start at 10% to 20% depending on the program and loan-to-value. Non-QM rates are higher than conventional rates, but for borrowers who cannot show two years of W-2 income, these programs are often the only viable path to homeownership. We place several Non-QM programs.

At this range, FHA and VA are the usual routes, and Non-QM full doc opens at 500 with 35% down on a primary home. FHA with a 500–579 score requires 10% down. At 580–619 you qualify for 3.5% down FHA. Rates at this range carry higher pricing than mid-range borrowers. A 12-month history of on-time payments, low balances relative to limits, and a plan to raise the score to 620+ is the fastest path to better terms. Paying down revolving credit below 30% utilization can move a score 20–40 points within 30–60 days.

This range opens conventional financing but carries Loan Level Price Adjustments (LLPAs) that raise the effective rate compared to borrowers above 740. FHA is sometimes more competitive at 620–679 because FHA pricing is less score-sensitive than conventional LLPAs. We run both programs side by side to show you which option produces the lower rate and payment. Borrowers targeting 700+ can often get there within 3–6 months by addressing utilization and avoiding new credit inquiries.

At 700 and above, conventional loan pricing improves significantly. Borrowers above 740 typically receive the best available conventional rate tiers with the lowest LLPAs. Jumbo loans also become available at 660 with significantly better pricing at 700+. VA borrowers in this range receive the most favorable VA rates available. For most Florida homebuyers, getting above 740 before applying represents the highest single return on investment for mortgage planning — potentially saving $50,000 to $100,000 in interest over the loan term.