What Credit Score Do I Need to Buy a House in Florida?
For an FHA loan, 580 is the score that unlocks 3.5% down; scores of 500 to 579 are limited to 90% loan-to-value, meaning 10% down. For a conventional loan sold to Fannie Mae, the minimum representative score is 620 for fixed-rate loans and 640 for adjustable-rate loans. VA sets no minimum score at all, though the lenders who make VA loans set their own. Those are program floors, not the score you should aim for. In Palm Beach County, where the median single-family home sold for $660,090 in July 2026, the difference between a 640 and a 740 is real money every month for thirty years.
The program minimums, with sources
| Program | Minimum score | Note |
|---|---|---|
| FHA | 580 for maximum financing (3.5% down); 500-579 limited to 90% LTV; under 500 ineligible | HUD Handbook 4155.1, Section 4.A |
| Conventional (Fannie Mae) | 620 fixed-rate, 640 ARM | Fannie Mae Selling Guide B3-5.1-01 |
| VA | No VA minimum | Lender overlays apply |
| USDA | No published fixed minimum; 640 is the common automated-underwriting threshold | Rural areas only; most of eastern Palm Beach County does not qualify |
Two things follow. First, "minimum" means the loan is possible, not that it is priced well or that a specific lender will make it. Nearly every lender adds its own overlays above the agency floor, especially on FHA loans under 620. Second, the score is only one of four things underwriting looks at - the others are income and debt-to-income ratio, down payment, and reserves. A 780 score does not save a file with a 55% debt-to-income ratio.
What the score actually costs you
On a conventional loan, credit score and down payment together drive loan-level price adjustments, which show up as a higher rate or higher points, plus the cost of private mortgage insurance if you put less than 20% down. The jumps are not smooth: pricing tiers typically step at 620, 660, 680, 700, 720 and 740, so a borrower at 738 who gains three points can land in a materially better bucket.
FHA works differently. FHA mortgage insurance is priced by loan-to-value and term rather than by credit score, which is exactly why FHA is often the better answer for a buyer in the low 600s with limited savings. It is also why the same buyer should re-run the comparison at 700 - above that, conventional with cancellable mortgage insurance frequently wins. Our full side-by-side is here: FHA vs conventional vs VA in Palm Beach County.
For scale, the 30-year fixed averaged 6.65% nationally in the week ending August 20, 2026, down from 6.67% the week before (Freddie Mac Primary Mortgage Market Survey). A quarter-point rate difference from a weaker credit tier on a $500,000 loan is roughly $80 a month, or about $29,000 over thirty years.
Which score the lender sees
Mortgage lenders do not use the free score in your banking app. They pull a tri-merge report from all three bureaus using older FICO scoring models built for mortgages, and the score is usually lower than what consumer apps show. With one borrower, the representative score is the middle of the three. With more than one borrower, Fannie Mae uses the average of the borrowers' median scores.
Practical consequence: if you and a partner are buying together, adding a co-borrower with a thin or damaged file can lower the loan's score and its pricing - even when that person's income helps the debt-to-income ratio. It is worth running the file both ways before you assume both names belong on the loan.
How to raise a mortgage score in 30 to 90 days
The moves that matter for mortgage scoring, in order of effect:
- Reduce revolving balances. Utilization is the fastest lever. Getting each card under 30% of its limit helps; under 10% helps more. Pay before the statement closes, not just before the due date, because the reported balance is the one that scores.
- Do not close old accounts. Length of history and total available credit both matter. Closing a paid-off card can lower your score.
- Stop opening new credit. No car loan, no furniture financing, no store card - not before the application, and not between application and closing. Lenders re-pull credit before funding.
- Dispute genuine errors early. Corrections take weeks, and a mixed file or a paid collection still reported as open is common.
- Be careful with collections. Paying an old collection does not always help the score and can restart the clock in some scoring models. Ask your loan officer what your specific file needs before you pay anything.
- Ask about rapid rescore. If a documented paydown or correction will change your tier, your lender can often have the bureaus reflect it in days rather than a full cycle.
What does not work: credit repair services promising to remove accurate information, and "authorized user" tradelines bought from strangers, which mortgage underwriting is built to discount.
The Palm Beach County reality check
A strong score does not fix an affordability gap. At current rates and prices, most first-time buyers in this county start in condominiums and townhouses - the median condominium sold for $312,500 in July 2026 against $660,090 for single-family (Florida Realtors / BeachesMLS via RWorld, July 2026). Two things then matter as much as your score: the association's financial health, because lenders will not finance units in some non-warrantable buildings regardless of your credit, and the insurance quote, which lands in your monthly payment. Read why home insurance is so expensive in Florida before you settle on a payment you can afford, and what to know before buying in a gated community if association approval is in your path.
Get fully underwritten pre-approval, not a pre-qualification letter. In this market a seller comparing two similar offers takes the one whose lender has already verified income, assets and credit.
Where to start
Gia Freer is broker/owner of PBP Real Estate, LLC, licensed in Florida for twenty-six years. We work with buyers well before they are ready to write an offer, including the ones who need six months on their credit first - we would rather help you buy the right home next spring than the wrong one now. We will connect you with local lenders who will pull the file, show you the exact pricing tiers, and tell you plainly what a 20-point improvement is worth on your loan.
Call 561-395-8418 or start with buying a home with PBP. Moving here from out of state? Start with our relocating to South Florida guide.
This article explains general loan program requirements and is not lending, legal or tax advice. Program rules, lender overlays and pricing change; verify current terms with a licensed mortgage lender for your situation.
Credit Scores and Florida Mortgages: Questions and Answers
What is the lowest credit score that can buy a house in Florida?
500, in theory. FHA allows scores of 500 to 579 at a maximum 90% loan-to-value, so 10% down, and 580 or higher qualifies for 3.5% down. Below 500 there is no FHA financing. Many lenders add overlays requiring 580 or 620 even for FHA loans, so options below 580 are limited in practice.
What credit score do I need for a conventional loan?
620 for fixed-rate loans and 640 for adjustable-rate loans under Fannie Mae's Selling Guide. Pricing improves in steps above that, with meaningful tiers at 660, 680, 700, 720 and 740, so scores well above the minimum change your rate and mortgage insurance cost.
Is there a minimum credit score for a VA loan?
The VA itself does not set a minimum credit score. Individual lenders do, and their thresholds vary. Eligible veterans with mid-600s scores commonly find VA financing with zero down payment.
Does my free credit score match what a mortgage lender sees?
Usually not. Mortgage lenders pull all three bureaus using older mortgage-specific FICO models, and those scores are often lower than the scores shown in consumer apps. With one borrower the middle score is used; with co-borrowers, the average of each borrower's median score.
How fast can I raise my credit score to buy a home?
Utilization changes can show up within one or two billing cycles, and a documented paydown can sometimes be reflected in days through a lender-requested rapid rescore. Repairing missed payments or collections takes longer. Ninety days of deliberate work moves most files at least one pricing tier.
Should I add my partner to the loan if their credit is weaker?
Not automatically. Fannie Mae uses the average of the borrowers' median scores, so a weaker file can raise the whole loan's cost even when the added income helps the debt-to-income ratio. Ask your lender to price the loan both ways before deciding whose names go on the application. Both partners can still be on the deed.