Conventional Florida Mortgage Lenders

Florida Mortgage Lenders Conventional Home Loans Conventional Florida Mortgage Lenders

• 3% down payment for First home Buyers.
• 5% down payment for non-First Time Home Buyers.
• 10% down payment on Second Homes.
• 20% down payment on Investment Properties.
• We offer these same low down payments on Condos.
  
  Minimum Credit Score:
  Conventional loans generally require a credit score of 620 or higher, but some lenders may have stricter requirements.

Minimum Down Payment:
Conventional loans often require a down payment of 3% or more.

Conventional Mortgage Insurance:
Conventional loans require mortgage insurance when your down payment is less than 20%, depending on the down payment and loan type.

Conventional Mortgage Loan Types:
Florida offers various loan types, including FHA, VA, and USDA loans, which may have different requirements than conventional loans.

Non-Conventional Mortgage Loan Programs Include:

• Unique Florida nonconventional properties including unpermitted additions, manufactured outbuildings,  multi-units, mixed-use, deed restrictions, and more
• No Credit and Limited Credit programs, including No Credit Florida Jumbo Mortgages
• Non-occupant Co-X allowed on rate term refi, cash-out refi, second homes, and purchases with true blended ratios
• Removal of alimony AND child support from the income vs. adding as a liability
• Use of departing residence rental income allowed with no lease, security deposit, or landlord history 
• An asset depletion program that can be coupled with all programs and other income
• Cash-out with no seasoning – unlimited cash in hand – cash out on Florida homes listed for sale. Cash-out can be used as reserves.
• Gift of equity, gifted reserves, and gifted down payment allowed on investment properties
• Acreage and hobby farms with no acreage limit and AG zoning are ok
• Removal of departing residence from DTI and reserves if 30% or more equity is present. Must be listed for sale by the close date
• One-time expenses, section 179 deductions, one-time losses, carry forward losses, notes due in 1 year, startup costs, Self-Directed IRA/SEP, and more – these are priced as Full Doc.
• Short-time self-employed borrowers and /or 1-year tax return program at lower levels priced as Full Doc
• Foreign National, Work Related Visas, Treaty Visas, Student Visas, J-Visas, DACA, and EAD, OPT, CPT permits – no credit required
• Funding / Titling in LLC allowed for investment properties.