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.
A conventional loan is the standard Florida mortgage, available from 3% down for first-time buyers (5% for repeat buyers) with a 620+ score. PMI applies under 20% down but cancels as you build equity. The 2026 conforming limit is $806,500 in most counties. NMLS# 1859012.
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 broad flexibility — from 3% down to jumbo amounts — without 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 costs less than FHA. The savings compound over the life of the loan.
Official resource: CFPB — Owning a Home.
Conventional loans also cover more property types. 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.
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.
| Feature | Conventional | FHA |
|---|---|---|
| Min Down Payment | 3% | 3.5% |
| Min Credit Score | 620 | 580 |
| Upfront Insurance | None | 1.75% UFMIP |
| Monthly Insurance | Cancellable PMI | Life-of-loan MIP* |
| Loan Limit (2026) | $806,500 | $524,225 |
| Seller Concessions | Up to 3–9% | Up to 6% |
Is a Conventional Loan Right for You?
Dig Deeper Into Conventional Loans in Florida
Explore the details that matter for your purchase — current rates, the full requirements list, a step-by-step qualifying guide, an honest pros-and-cons breakdown, and the conforming loan limits for Florida.
Conventional Loans in Florida Cities
Get a conventional loan from a licensed local mortgage broker in your city. Each page has the local price band, down payment, and what it takes to qualify for a Conventional loan where you are buying.
Get Your Conventional Loan Pre-Approval in Florida
3% down · No upfront MIP · Cancellable PMI · Licensed FL mortgage broker NMLS# 1859012
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.