Florida Loan Program
Conventional Loans
Standard, reliable home financing with flexible terms.
Conventional loans are the most common mortgage in America — and for good reason. They're flexible, widely available, and come with competitive rates for borrowers with solid credit. Unlike government-backed loans, conventional loans are underwritten to guidelines set by Fannie Mae and Freddie Mac, which means they work for primary residences, second homes, and investment properties alike.
One of the biggest advantages of a conventional loan is private mortgage insurance (PMI) cancelability. With an FHA loan, mortgage insurance typically stays for the life of the loan. With a conventional loan, once you reach 20% equity, you can request to have PMI removed — which can save you hundreds of dollars every month for years.
Whether you're buying a starter condo in Miami or a single-family home in Palm Beach County, a conventional loan is often the most cost-effective path when you have decent credit and a modest down payment. We'll compare conventional offers from multiple lenders to make sure you're getting the best of the best.
Who This Loan Is For
- Buyers with good to excellent credit (typically 620+)
- Homeowners who want mortgage insurance they can actually cancel
- Purchasers of second homes or investment properties
- Borrowers with 3% to 20% down who don't need a government program
- Anyone wanting the most standard, widely-accepted loan type
Basic Requirements
- Credit score of 620 or higher (higher scores get better rates)
- Down payment of at least 3% (20% eliminates PMI entirely)
- Debt-to-income ratio typically under 45-50%
- Stable, verifiable income and employment history
- A Florida property that meets conforming loan limits
Key Benefits
- Down payments as low as 3% for qualified buyers
- Cancel Private Mortgage Insurance once you reach 20% equity
- Available for second homes and investment properties
- Flexible loan terms — 15, 20, or 30 years