3% Down · Cancellable PMI

Conventional Loan in Miami, FL

Your licensed Miami mortgage broker for conventional loans. We shop multiple lenders to find the right Conventional terms for your Miami purchase, and keep the file moving to the closing table.

$620,000

Median Home Price

3% Down

Conventional Highlight

33101

Primary ZIP

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Get Pre-Approved in Miami

5 minutes · No cost · Soft credit pull only

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NMLS# 1859012 · Equal Housing Lender

Conventional Loan · Miami

Conventional Loans From Your Miami Mortgage Broker

A conventional loan is the standard non-government mortgage. It opens at 620 and as little as 3% down, and its biggest edge over FHA is PMI you can cancel once you reach 20% equity rather than carry for the life of the loan.

Miami's median near $620,000 puts many purchases at the move-up end of Miami-Dade County. Loan size and structure start to matter there. We line up the Conventional terms against that price point before you commit.

Miami runs the full spectrum, from downtown and Brickell condo towers to single-family neighborhoods. Condo financing is its own challenge here, so we vet warrantability and HOA budgets early, and we work with ITIN and foreign-national borrowers regularly.

What a Conventional Loan Offers in Miami

✓3% down for qualified first-time buyers; 5% standard

✓620 minimum score; pricing improves at 640, 660, 680, 700, 740

✓PMI cancels automatically at 78% loan-to-value

✓No upfront mortgage insurance fee

✓Works for primary, second home, and investment purchases

✓Conforming limit caps the loan before jumbo territory

As a broker, not a bank, we compare conventional loan pricing across lenders at no cost. You get real numbers for your Miamiprice point. Start with a five-minute application or call (561) 300-0380 and we will map the numbers to your situation. You can also read the full Conventional Loan program guide. Or review the CFPB's homebuyer guide for the official rules behind the program.

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Conventional Loan Snapshot

Minimum Down3% (first-time) / 5%

Minimum Score620

Mortgage InsuranceCancellable at 20% equity

Best ForBuyers with 640+ and steady income

CityMiami

CountyMiami-Dade County

Broker NMLS#1859012

How It Works in Miami

Apply Online

5 min · soft credit pull only

Match Program

We shop lenders for your Conventional terms

Processing

Our team handles paperwork

We coordinate title and signing in Miami

Get Pre-Approved

FAQ

Conventional Loan in Miami Questions

Is a conventional loan better than FHA in Miami?

It depends on your score and how long you will keep the loan. Above about 680, conventional usually beats FHA on total cost in Miami because the PMI cancels. Below that, FHA can be cheaper. We run both side by side so you see the real monthly difference.

How much down do I need for a conventional loan in Miami?

Qualified first-time buyers can go as low as 3%, and 5% is the standard. On a $620,000 Miami home that 3% lands in the low five figures before any assistance. Putting 20% down removes PMI from day one.

Where can I get a conventional loan in Miami, FL?

Mortgage Capital is a licensed Florida mortgage broker (NMLS# 1859012) writing conventional loans in Miami and across Miami-Dade County. As a broker we shop multiple lenders for the program. You see real Miami pricing rather than one bank's box. Call (561) 300-0380 or apply online.

How fast can a conventional loan close in Miami?

The timeline depends on the program, the appraisal, the title work, and how quickly the seller and their lender respond, so we do not quote a fixed number of days. We return most pre-approval decisions within one business day and order third-party reports as early as the contract allows. A fully underwritten pre-approval is the strongest way to keep your Miami closing on schedule.

More Miami Loan Programs

Other Loans We Write in Miami

Official resources

Verify the details for your own situation against these government and agency sources: Fannie Mae HomeReady and Freddie Mac Home Possible.

Conventional Loan Questions

What Miami borrowers ask us before they start a conventional loan application.

What is a conventional loan?What credit score do I need for a conventional loan?What is the conforming loan limit in Florida?What is a conforming loan limit?Can the seller pay my closing costs?Can I borrow my down payment?

Browse all mortgage questions→

Tools & Programs

Credit Score620 Score, CONVENTIONAL Loan Down PaymentGift Funds with Conventional GlossaryAmortization: definition CalculatorCLTV Calculator Loan ProgramForeign National Loans refinanceJumbo Refinance: Calculator buyersPolice Officers Home Loans MarketHousing Affordability in Florida

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Miami Mortgage Broker Conventional Loan Program Guide All Florida Loan Programs All Florida Cities Apply for Pre-Approval