Conventional Mortgage Florida — 2026 Loan Limits Updated

Conventional Loans Florida

Florida's most flexible mortgage — 3% down, 620+ FICO, no upfront insurance premium, and cancellable PMI. 2026 conforming limit $806,500. Licensed FL mortgage broker NMLS# 1859012.

3%
Min Down Payment
620+
Min FICO Score
$806,500
2026 Loan Limit
Get Pre-Approved📞 (561) 300-0380
By Onias Derilus, NMLS# 1859012 · Licensed FL Mortgage Broker · Last Updated: May 2026
Conventional Loans Florida 2026

Conventional Mortgage Florida — No FHA Required

Conventional loans are the most widely used mortgage in Florida. They follow Fannie Mae and Freddie Mac guidelines and offer the most flexibility — from 3% down to jumbo amounts — without requiring government backing.

Unlike FHA loans, conventional mortgages have no upfront mortgage insurance premium and allow PMI cancellation once you reach 80% loan-to-value. For buyers with 620+ FICO and 5%+ down, conventional financing typically produces a lower total cost than FHA over the life of the loan.

Conventional loans also offer more property flexibility — condos, investment properties, second homes, and multi-unit properties (up to 4 units) are all eligible. The 2026 conforming loan limit in Florida is $806,500, well above the median home price in most markets.

✓3% down for first-time buyers (HomeReady / Home Possible)
✓5% down for repeat buyers
✓20% down eliminates PMI entirely
✓PMI cancellable at 80% LTV — unlike FHA MIP
✓No upfront mortgage insurance premium
✓Eligible for condos, 2-4 units, investment properties
✓Fixed and adjustable rate options available
✓Combinable with gift funds and eligible DPA programs
2026 Conforming Loan Limits — Florida
1-Unit (Single-Family)$806,500
2-Unit (Duplex)$1,032,650
3-Unit (Triplex)$1,248,150
4-Unit (Fourplex)$1,551,250
Applies to most Florida counties. High-balance limits may apply in certain areas.
Sample Conventional Payment — $400,000 Home
Down Payment (5%)$20,000
Loan Amount$380,000
Upfront MIPNone
Monthly P&I (6.875%)$2,496
Est. PMI (0.5%/yr)~$158/mo
Est. Total Payment~$3,100/mo
Sample only. PMI cancellable at 80% LTV. Taxes/insurance not included. Subject to credit approval.
Conventional vs. FHA

Conventional vs. FHA — Side-by-Side Comparison

Every buyer's situation is different. We run both scenarios on every application so you see the real numbers before choosing.

FeatureConventionalFHA
Min Down Payment3%3.5%
Min Credit Score620580
Upfront InsuranceNone1.75% UFMIP
Monthly InsuranceCancellable PMILife-of-loan MIP*
Loan Limit (2026)$806,500$524,225
Seller ConcessionsUp to 3–9%Up to 6%
*FHA MIP is for the life of the loan if down payment is less than 10%.
Who Qualifies

Is a Conventional Loan Right for You?

🏠
First-Time Buyers
HomeReady and Home Possible programs offer 3% down with reduced PMI for qualifying buyers.
🔄
Move-Up Buyers
5% down, no upfront MIP, and higher loan limits make conventional the go-to for repeat buyers.
🏢
Investors
Conventional is the primary option for investment properties — FHA requires owner-occupancy.
📈
Good Credit Borrowers
620+ FICO scores access competitive rates; 740+ qualifies for the best tier pricing available.

Get Your Conventional Loan Pre-Approval in Florida

3% down · No upfront MIP · Cancellable PMI · Licensed FL mortgage broker NMLS# 1859012

📞 (561) 300-0380

Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.