Davenport is an area that is eligible for the no money down USDA mortgage. There are a couple of other great benefits like the ability to roll your closing costs into the loan and, this is the best part, the monthly mortgage insurance on a USDA mortgage is substantially less than and FHA loan.
You don't need to be a first time home buyer for USDA mortgage which makes it better than trying to deal with a state or county down payment assistance program.
You do need to have at least a 620 middle credit score and you have to qualify under the programs county income limits but if you do, it's a much better option than an FHA loan.
You can find more information on the USDA mortgage program by visiting my USDA website below or contacting me directly.
Senior Mortgage Banker
It really depends on how low your score is. The score you get when you run your credit and when a bank or loan officer runs your credit will be different. You'll need a 620 or higher. However, it's not just your credit score but your ability to pay. If you are not going to live in the house, you will not be able to get an FHA loan. If you plan to move into the house, your next problem becomes your employment. You really should talk to a loan officer to find out if you would qualify. Would you like me to get you in touch with one?
Real Living Classic Homes Realty