If you’re looking for a reliable and flexible mortgage solution, conventional loans might be the perfect fit. These are the most common types of mortgages, offered by private lenders like banks and credit unions—without federal government backing.

At Mortgage Capital, we make the process simple, transparent, and hassle-free. With our expert team guiding you every step of the way, you’ll get the best possible rates and terms to suit your financial goals.

Why Choose a Conventional Loan?

A conventional home loan offers competitive rates, flexible terms, and higher borrowing limits compared to government-backed loans like FHA, VA, or USDA loans. These loans are ideal for borrowers with strong credit and a stable financial history.

Conventional Loan Benefits:

 Lower overall borrowing costs (compared to government-backed loans)
No upfront mortgage insurance premiums (with 20% down)
More flexibility with property types
Faster loan processing & approvals

Florida Conventional Loan Requirements

To qualify for a conventional loan, lenders typically require:
Credit Score: 620+ (higher scores secure better rates)
Debt-to-Income Ratio: Below 36% preferred
Down Payment: 3%-20% (20% avoids private mortgage insurance)
Stable Income & Employment History
No recent bankruptcies or foreclosures

Not sure if you qualify? Our mortgage experts can help you find the best financing options for your situation. Call 561-300-0380 today!

Fixed vs. Adjustable-Rate Mortgages

When choosing a conventional loan, you’ll need to decide between:

  • Fixed-Rate Mortgage – Predictable payments with a locked-in interest rate. Ideal for long-term homeownership.
  • Adjustable-Rate Mortgage (ARM) – Lower initial interest rates that adjust over time. Perfect for short-term homeownership plans.

Our team will help you compare options and secure the best rates available.

Conventional Loan Limits in Florida

For 2024, the conforming loan limit in Florida is $766,550. In high-cost areas, loan amounts can go up to $1,149,825. If you need a larger loan, we also offer jumbo loans.

How to Apply for a Conventional Loan

Getting started is easy! Follow these simple steps:

  1. Contact Us – Call 561-300-0380 or apply online.
  2. Get Pre-Approved – We’ll review your credit, income, and assets.
  3. Find Your Dream Home – Work with your real estate agent to make an offer.
  4. Close Your Loan – We’ll handle the paperwork and finalize your mortgage.

Ready to take the next step? Click below to apply now!

Still Have Questions? We Have Answers!

How does a conventional loan compare to an FHA loan?

A conventional loan is best for borrowers with strong credit and the ability to make a larger down payment. An FHA loan is government-backed and ideal for those with lower credit scores.

What credit score do I need?

Most lenders require 620 or higher, but a 740+ score will get you the best rates.

How long does it take to close?

On average, conventional loans close within 30-45 days.

Let’s Get Started Today!

At Mortgage Capital, we’re dedicated to helping Florida homebuyers navigate the mortgage process with ease. Whether you’re buying your first home or refinancing, we’re here to help you get the best loan for your needs. Call us at 561-300-0380.

Your dream home is within reach—let’s make it happen!Â