What credit score do I need for a conventional loan?

Most conventional lenders require a minimum credit score of 620, with the best rates available at 740+. A score of 680+ is considered strong.

How much do I need for a down payment on a conventional loan?

As little as 3% for first-time buyers (Conventional 97 program) or 5% standard. Putting 20% down eliminates PMI entirely.

What are the conforming loan limits in Florida for 2025?

The 2025 conforming loan limit for most Florida counties is $806,500 for a single-family home. High-cost areas may have higher limits.

Financing Options

Conventional Loans

The most versatile mortgage option. Competitive rates, flexible terms, and no upfront mortgage insurance — ideal for buyers with strong credit in Florida and Georgia.

Key Benefits

Competitive Rates

Conventional loans often offer the lowest interest rates for borrowers with strong credit (680+), especially with 20% or more down.

No Upfront Mortgage Insurance

Unlike FHA loans, conventional loans have no upfront mortgage insurance fee. PMI is only required with less than 20% down and can be removed once you reach 20% equity.

Flexible Property Types

Finance single-family homes, condos, townhomes, multi-unit properties (up to 4 units), and second homes or investment properties.

Multiple Down Payment Options

Put down as little as 3% for first-time buyers (Conventional 97), 5% standard, or 20%+ to avoid PMI entirely.

Conventional vs. Government Loans

Min. Credit Score

Conventional620

FHA580

VA580

Min. Down Payment

Conventional3-5%

FHA3.5%

VA0%

Mortgage Insurance

ConventionalRemovable at 20%

FHALife of loan*

VANone

*FHA MIP stays for the life of the loan with less than 10% down. With 10%+ down, it drops after 11 years.

How It Works

Assess Your Financial Position

Credit score, savings, and debt-to-income ratio determine your conventional loan options. We help you understand where you stand.

Get Pre-Approved

We connect you with conventional lenders who specialize in the Florida and Georgia markets for competitive rate shopping.

Find Your Property

Whether it's your first home, upgrade, second home, or investment — a Wynnmore agent helps you find the right fit.

Close Efficiently

Conventional loans often close faster than government-backed options. We manage the timeline for a smooth closing.

Frequently Asked Questions

What credit score do I need?

Most lenders require a minimum of 620. The best rates are available at 740+, with 680+ considered strong for competitive terms.

Can I avoid PMI?

Yes. Put 20% or more down and you'll have no PMI. If you start with less, PMI can be removed once your loan-to-value ratio reaches 80% — either through payments or appreciation.

What are the loan limits in Florida?

The 2025 conforming loan limit for most Florida and Georgia counties is $806,500 for a single-family home. Jumbo loans are available for amounts above this limit.

Can I use a conventional loan for an investment property?

Yes. Conventional loans can finance primary residences, second homes, and investment properties — unlike FHA and VA loans which are restricted to primary residences.

How fast can a conventional loan close?

Conventional loans typically close in 30-45 days, often faster than government-backed options since they don't require agency-specific appraisal standards.

Ready for Conventional Financing?

Let us connect you with the right lender for competitive rates in Florida and Georgia.