Florida Mortgage Broker

  VantageScore Mortgages: The New Credit Score That Could Help You Buy a Home in SW Florida If you've ever been told no on a mortgage because of your credit score, real talk: that no might not be a no anymore. The mortgage industry just opened up a second credit score that runs alongside the FICO score you've been measured against your entire adult life. It's called VantageScore. And for a lot of buyers in Cape Coral, Fort Myers, and Naples, it changes the math. Here's what it is, why it matters, and how to find out where you stand. What is VantageScore? VantageScore is a credit scoring model created by the three big credit bureaus (Equifax, Experian, and TransUnion). It's been around for years on the consumer side. What's new is that lenders are now accepting VantageScore 4.0 for actual mortgage qualification. I'm already running it for Conventional loans and VA loans. FHA is on the way. Think of it like this. You used to take one test (FICO) to qualify for...

The Myth: "I need to save 20% down before I can buy a house." This is the single biggest misconception stopping renters from becoming homeowners in Lehigh Acres ,  Cape Coral & surrounding SW Florida areas . The Reality: According to recent data, the average first-time homebuyer puts down significantly less than 20%. In fact, most of my clients put down between 3% and 3.5% . Loan Programs with Low Down Payments: Conventional Loans (3% Down): Yes, you can get a conventional loan with just 3% down if you are a first-time buyer. FHA Loans (3.5% Down): Perfect for buyers with credit scores starting at 580 . This is a very popular option in Lee County . with as little as 10% down & and good rental history you CAN have a lower than 580 score VA Loans (0% Down): If you are a Veteran or active duty military, you have earned the right to buy with zero down payment and no monthly mortgage insurance. USDA Loans (0% Down): Believe it or not, many areas around Punta Go...