To buy a home in Orlando, most lenders require a minimum credit score of 620—but the better your score, the better your loan options. With strong local demand and rising home values, improving your credit before buying could save you thousands in interest and give you more buying power.

Let’s break it down. A conventional loan typically requires a score of at least 620. FHA loans are more flexible and may accept scores as low as 580—with a 3.5% down payment. Some lenders even allow for scores in the 500s, but you’d need a larger down payment, often 10% or more, and higher interest rates.

The difference between a 620 and 740 credit score can be significant when it comes to your interest rate. A higher score not only lowers your rate, but it could also help you qualify for down payment assistance programs or reduce your private mortgage insurance (PMI) costs. Over the life of a 30-year mortgage, that adds up.

If your score isn’t where you want it to be yet, don’t panic. Many buyers start the process while improving their credit. Small changes—like paying down debt, avoiding new credit inquiries, and making consistent payments—can boost your score over time.

Lenders also look at your full financial picture—not just your credit score. Your debt-to-income ratio (DTI), job stability, and savings all play a role in qualifying for a loan. Even if your score isn’t perfect, you may still have strong buying potential.

It’s also important to work with a lender who understands the local market. Central Florida’s home prices and property taxes vary by neighborhood. Some areas may offer special incentives for first-time buyers, veterans, or educators that can help offset lower credit scores.

I’m Eve Metlis with Watson Realty, and I’ve helped hundreds of buyers across the Orlando area find the right loan, lender, and home. If you’re not sure where to start, I’ll connect you with trusted local mortgage professionals and help you build a plan—whether you’re ready to buy now or preparing for the future.

Bottom line? While a 620 credit score is the standard benchmark, there are options for buyers across the credit spectrum. What matters most is getting expert guidance early so you can make smart decisions and feel confident every step of the way.

 

Contact Eve Metlis at Watson Realty Corp | 407-493-5225 | www.EveMetlis.com for a FREE 2025 Market Strategy Session