Conventional Loan
Conventional loans with competitive rates and flexible terms.
A conventional loan is the most common mortgage option. Backed by Fannie Mae and Freddie Mac, these loans offer competitive rates for borrowers with good credit and as little as 3% down.
Check Your RateKey Features
- Down payments as low as 3% (Conventional 97 program)
- Loan limits set by FHFA, currently up to $766,550 in most Florida counties
- PMI can be removed once you reach 20% equity
- Fixed-rate and adjustable-rate (ARM) options available
- No upfront funding fee (unlike FHA or VA)
- Ideal for borrowers with credit scores of 620+
Who It Is For
Conventional loans work well for borrowers with stable income, good credit, and at least 3% saved for a down payment. They are the right choice for many first-time buyers, move-up buyers, and anyone who wants a straightforward loan without government fees.
If your credit score is above 660 and you have documented income, a conventional loan will nearly always offer the lowest total cost over time.
Explore Related
Ready to explore conventional financing?
Austin will walk you through the options and help you choose the right terms for your situation.