Apply right now, schedule a call, or talk to a loan officer. Conventional is the most flexible loan on the market. Let's make it work for you.
Same destination, a real pre-approval letter that lets you make competitive offers. Three ways to get there.
The full conventional application takes 10-15 minutes. Most files get a same-day decision, and conventional tends to move fastest in underwriting.
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Pick a 30-minute slot that works for you. We'll compare conventional against FHA and VA if they apply, and tell you which loan type puts the lowest monthly payment in front of you.
30 minutes, no commitment.
Talk to a licensed loan officer right now. We'll run your scenario and tell you where you stand, whether conventional is the right call or not.
Average wait under 60 seconds.
Conventional loans aren't backed by a government agency. They're backed by private investors through Fannie Mae and Freddie Mac, and they're the most common mortgage in the U.S. Minimum down payment can be as low as 3% for first-time buyers (Fannie's HomeReady, Freddie's Home Possible) or 5% on a standard conventional loan. Unlike FHA, private mortgage insurance drops off automatically once you reach 78% loan-to-value, and can often be removed sooner on request at 80%.
Still researching? Read the full conventional loan guide
Conventional is the most flexible loan type on the market, which also means it has the most dials to turn. Here's the core eligibility checklist. If most of these fit, we can usually structure a conventional file around your situation.
Have these handy before you start the online application or jump on a call. Anything you don't have, we can request directly from your employer or bank during processing.
A current driver's license, state ID, or passport for every borrower on the loan.
W-2s if you're salaried, 1099s and federal tax returns if you're self-employed or commission-based. Bonus and overtime need two years of history to count.
Most recent pay stubs covering a full month. These confirm current income and year-to-date totals.
All accounts for down payment, closing costs, and reserves. Fannie and Freddie both check for sourced funds, so flag any big deposits.
Monthly minimums on auto loans, student loans, credit cards, and installment debt. Conventional pricing is more sensitive to DTI than FHA, so accuracy matters.
If family is helping with the down payment, we'll provide a gift letter template. The donor will need to show the source of the funds too.
No black box. Here's the actual sequence after your application lands with our team, whether you came in online or scheduled a call.
We pull credit, run Desktop Underwriter (Fannie) or Loan Product Advisor (Freddie), and confirm income and asset numbers. You'll get a text or email with either a clean approval or the short list of what's missing.
If the file is clean, we issue a real pre-approval letter you can send to your agent and use on offers. If we need to dig in (self-employed income, recent credit events, multi-source income), we set up a call within 24 hours.
Submission to underwriting, appraisal, conditional approval, clear to close. Conventional is typically the fastest loan type to close because there's no government-agency review step after lender underwriting.
Florida's conforming loan limit in 2026 is $806,500 in most counties, which covers the majority of the state's single-family purchases. In high-cost areas like Monroe County (the Keys), the limit rises to over $1 million. That means conventional is the default financing option for most Florida buyers who aren't constrained to FHA, VA, or USDA.
PMI on conventional loans drops off automatically at 78% loan-to-value (22% equity), and can be requested to be removed earlier at 80% with a current appraisal. Compared to FHA, where MIP stays for the life of the loan unless you put 10% down, conventional has a real path to eliminating mortgage insurance without refinancing. For buyers planning to stay in the home 5+ years, the math often favors conventional even at the same down payment.
Conventional is also the only agency loan that finances second homes and investment property. That matters in Florida because a lot of buyers are purchasing vacation homes in Naples, Sarasota, the Keys, or the Panhandle, or adding a rental property to their portfolio. With an FHA or VA loan, that's not an option, with conventional, it is.
Conventional loans allow as little as 3% down for first-time buyers (HomeReady or Home Possible programs) and 5% down on a standard conventional loan. Hitting 20% down removes PMI entirely from day one, which some buyers prefer.
PMI automatically cancels at 78% loan-to-value based on the original purchase price (so once you've paid down 22% of the original balance). You can also request removal at 80% LTV, which typically requires a current appraisal to verify the value. On a rising Florida market, that can happen years before amortization alone would get you there.
It depends. For buyers with strong credit (720+) and 10%+ down, conventional almost always wins on monthly payment because of lower PMI rates and the ability to drop PMI at 20% equity. For buyers with credit in the 620-680 range or less than 5% down, FHA often wins. We run the side-by-side before you commit.
The hard minimum is 620. Pricing improves at 680, 700, 720, and 740. If your score is in the 620-660 range, FHA or a first-time buyer conventional product may price better. Schedule a call and we'll compare both options on your actual numbers.
Yes. Conventional is the primary financing path for second homes. You'll need at least 10% down (some lenders require 15-20%) and two months of additional reserves. Rates are generally slightly higher than on a primary residence, typically by 0.25% to 0.5%.
The conforming loan limit in most Florida counties is $806,500. Monroe County (the Keys) is higher, at around $1 million. Above the conforming limit, you'd move to a jumbo loan. We'll confirm your county's limit on the call.
Yes. For primary residence conventional loans, 100% of the down payment can come from a gift if you're putting down less than 20%. Above 20% down, the rules are even looser. The donor must be a family member or approved source, and the gift must be properly documented and sourced.
For salaried W-2 income, usually no, W-2s and pay stubs are sufficient. For self-employed, commission, bonus, or rental income, we need two years of tax returns. If your self-employment is newer than two years, there are still paths, but they're more nuanced.
Yes, up to a limit. For a primary residence with less than 10% down, sellers can contribute up to 3% of the sale price. From 10% to 25% down, up to 6%. Above 25%, up to 9%. Investment properties cap at 2%.
Conventional is usually the fastest loan type to close because there's no government-agency review step after lender underwriting. Our target is 14 days from contract signed to funds at closing, assuming clean cooperation from the title company and appraiser.
Yes. Conventional is the most common financing for investment property. You'll typically need 15-25% down and stronger reserves. If you don't want to qualify on personal income, DSCR may be a better fit. We'll run both and tell you which is cheaper on a total-cost basis.
Three ways to start. Pick what feels right.
