Conventional Loans
Conventional loans are the most common mortgage option for homebuyers with solid credit and a stable income. They offer competitive interest rates, flexible terms from 10 to 30 years, and require as little as 3% down for qualified borrowers.
Conventional Loans in Florida — Rates & Requirements 2026
Conventional loans are the most common mortgage type in Florida, offering competitive rates, flexible terms from 10-30 years, and down payments as low as 3%. If you have good credit (680+), a conventional loan almost always offers the best overall deal.
Requirements at a Glance
Key Benefits
- ✓Lowest rates available for borrowers with 700+ credit
- ✓PMI cancels automatically at 78% LTV (unlike FHA which lasts the life of loan)
- ✓Finance primary homes, vacation homes, AND investment properties
- ✓No upfront mortgage insurance premium
- ✓Lower total cost over loan life vs FHA for credit scores 680+
- ✓More flexible on property condition than FHA/VA
How to Apply — Step by Step
Check Your Credit
Pull your scores from all 3 bureaus. 680+ gets you competitive rates; 740+ gets the best available.
Get Pre-Approved
We verify income, assets, and credit in 1 business day. No obligation.
Shop & Make an Offer
Pre-approval letter makes your offer stronger. Sellers prefer conventional over FHA/VA.
Appraisal & Processing
Less strict property requirements than FHA. Fewer deal-killers on older homes.
Close in 21 Days
Beacon's in-house team averages 21-day closings.
Who Qualifies?
Conventional loans in Florida are available to anyone with a credit score of 620 or higher, stable income documentation (W-2 or 2 years self-employment), and a debt-to-income ratio under 45%. First-time buyers can put as little as 3% down. Repeat buyers typically need 5%. Investment property purchases require 15-25% down.
Pro tip: If your credit score is 680+ and you have 10%+ down, conventional will almost always beat FHA on total cost. The reason: FHA mortgage insurance (MIP) lasts the life of the loan, while conventional PMI drops off at 20% equity. Over 10 years, that difference can be $15,000-30,000 in savings.
Get Pre-Approved for a Conventional Loan Today
Pre-qualify in minutes. No credit check to start. No obligation.
Florida Market Insight
Florida's growing housing market makes conventional loans an attractive choice for buyers seeking predictable monthly payments. With strong property appreciation across the state, locking in a conventional rate now positions borrowers for long-term equity growth.
Get Your Rate in 60 Seconds
Enter your phone — a loan officer calls you back with your personalized quote.
Conventional Loans by Location
Conventional Loans Payment Calculator
Estimated Monthly Payment
$1,816.07
Loan amount: $280,000 · 30-year term at 6.75%
Get a Free Conventional Quote
No obligation, no credit check to start.
Your information is secure and never shared.
Frequently Asked Questions
- What is a Conventional loan?
- Conventional loans are the most common mortgage option for homebuyers with solid credit and a stable income. They offer competitive interest rates, flexible terms from 10 to 30 years, and require as little as 3% down for qualified borrowers.
- How do I qualify for a Conventional loan in Florida?
- Qualification depends on credit score, income, debt-to-income ratio, and the specific Conventional program requirements. Contact Beacon Mortgage for a free pre-qualification with no impact to your credit score.
- What is the Florida market like for Conventional Loans?
- Florida's growing housing market makes conventional loans an attractive choice for buyers seeking predictable monthly payments. With strong property appreciation across the state, locking in a conventional rate now positions borrowers for long-term equity growth.
- Where does Beacon Mortgage offer Conventional Loans?
- Beacon Mortgage offers Conventional Loans in Orlando, Miami, Tampa, Jacksonville, Fort Lauderdale, Winter Garden, and 25+ additional Florida cities. Click any city below to see local market data.