Your credit and buying a home in South Florida

There's no single magic number. Lenders look at your whole picture: credit, income, debts and savings. Still, most buyers find these general starting points helpful.

Typical credit score starting points

• Conventional loans: many lenders look for about 620 or higher, with as little as 3% down for some buyers.
• FHA loans: 580 or higher with 3.5% down; some lenders go lower with a larger down payment.
• VA loans: no government-set minimum, though many lenders use about 620.

Higher scores usually mean a lower interest rate and lower mortgage insurance, so a few extra points can save real money every month. Requirements change and vary by lender, so a pre-approval gives you your actual answer.

How to check your credit for free

You can see all three credit reports for free at AnnualCreditReport.com. Look for errors, accounts you don't recognize and late payments reported by mistake, and dispute anything wrong directly with the credit bureau.

Simple ways to help your score before you apply

• Pay every bill on time; one late payment can drop a score quickly.
• Keep credit card balances low, ideally well under 30% of each card's limit.
• Don't open or close credit accounts in the months before you apply.
• Talk to a lender early. A good loan officer can show you which changes would help your score the most.

Help with the down payment

Florida and several South Florida counties offer down payment assistance programs for eligible buyers, each with its own credit and income rules. Ask me which ones may fit you, and I'll connect you with a lender who works with them.

Next: the home buying process, step by step.