Conventional Loans in Florida
We arrange Fannie Mae (FNMA) and Freddie Mac (FHLMC) Conventional loans for Florida buyers and homeowners, starting at a 620 credit score. You get a regular Conventional loan, shopped across lenders by an independent broker instead of one bank.
Am I going to qualify?
How much do I need down?
Purchase a home with as little as 3% down on qualified programs. See the Conventional down payment rules in Florida.
What score do I need?
Our Conventional programs start at 620. A higher score usually earns a better price, so we check where your score lands before you lock.
What if I have debt?
With a strong automated approval, Debt-to-Income (DTI) ratios can go up to 50%, while many traditional lenders stop lower.
What if I work for myself?
Qualified self-employed borrowers may need only one year of tax returns for income verification, speeding up approval.
Can I drop the PMI later?
Private Mortgage Insurance (PMI) is removable once your home equity reaches 20% or 22% (LTV of 80% or 78%). Here's how PMI cancellation works.
What can I buy with this?
Financing available for 1-4 unit primary residences, plus second homes and investment properties.
Any penalty for paying early?
Enjoy the freedom to sell or refinance your home at any time with no penalties or hidden fees.
Can I add a co-borrower?
We allow both occupying and non-occupying co-borrowers to help you meet income and qualification requirements.
Who answers when I call?
Unlike large banks with limited hours, we promise to always answer your calls. Day or night, weekday or weekend, you'll reach a knowledgeable loan officer who can answer your questions on the spot.
When is Conventional better than FHA?
A Conventional loan is the most common form of mortgage financing. It isn't insured or guaranteed by the government the way FHA, VA and USDA loans are. It follows the guidelines of Fannie Mae and Freddie Mac, and the Federal Housing Finance Agency (FHFA) sets the conforming loan limit, the largest loan they will buy. Conventional usually beats FHA when your credit is strong, because PMI can come off later, while FHA's monthly MIP usually stays for the life of the loan.
What if my situation is outside the standard box?
Most lenders stick closely to the standard GSE Automated Underwriting System (AUS) findings. AAA Capital Funding, Inc. has been a mortgage broker since 1997, and we use our broad lender network to find more flexible options. If your situation is more complicated, don't give up yet. Let us take a look and see what we can do for you.
- Debt-to-Income (DTI) Flexibility: The standard industry DTI maximum is often capped lower. With a strong automated approval, Fannie Mae and Freddie Mac allow debt-to-income ratios up to 50%, and we send your file to lenders that use that full room instead of capping you lower. That matters a lot for buyers carrying heavy student loan debt or expecting a significant income increase.
- Simplified Self-Employed Documentation: For many self-employed borrowers, one year of personal and business tax returns can be enough, which cuts the paperwork compared to the usual two-year requirement.
How do I get rid of PMI?
When your down payment is less than 20% (Loan-to-Value or LTV is above 80%), Conventional loans require Private Mortgage Insurance (PMI). However, the ability to remove this monthly cost is the single greatest long-term financial benefit of this loan type. Unlike FHA's Mortgage Insurance Premium (MIP), which often lasts for the life of the loan, PMI on a Conventional loan is governed by the Homeowners Protection Act (HPA):
- Automatic Removal: Your loan servicer must automatically terminate PMI when your loan balance is scheduled to reach 78% LTV of the original home value.
- Requested Removal: You have the right to request cancellation when your loan balance reaches 80% LTV of the original value.
- Early Removal via Appreciation: If your home value has rapidly increased, you can often apply for early removal based on a new appraisal, potentially eliminating PMI years ahead of schedule.
Why does my credit score change my pricing?
Conventional loans use a risk-based pricing structure known as Loan-Level Pricing Adjustments (LLPAs). These fees are directly tied to your FICO credit score and your Loan-to-Value (LTV) ratio. LLPAs are critical because they determine your final interest rate and closing costs.
We help you analyze the LLPA matrix before locking your rate, advising whether increasing your down payment by even a small amount can jump you into a lower-risk tier and save you thousands over the loan's life.
What if my file is more complicated?
- Extensive loan program portfolio.
- Highly competitive interest rates.
- Licensed and experienced since 1997.
- 24/7 Accessibility: Calls are answered day or night.
- Start with a call of under ten minutes. No application, no credit pull.
- One loan officer from application to closing.
- Flexible repayment and loan structure options.
- Transparent and fair lending practices (no hidden fees).
- Quick and reliable closing process.
- Rated 4.9 on Google and A+ with the BBB.
Why can one lender approve what another turns down?
Every lender is free to add its own rules on top of the Conventional guidelines set by Fannie Mae and Freddie Mac. These extra rules are called overlays. One bank may require a higher credit score or a lower debt-to-income ratio than the program itself does, while another lender follows the program as written. As a broker, we know which lenders carry which overlays, so your loan goes to one whose rules approve it.
- Lack of program diversity.
- Opaque fee structures and hidden fees.
- Inexperienced personnel.
- Tedious application process and overall disorganization.
- Unresponsive customer service.
- Limited flexibility in repayment options.
- Unclear, hidden, and surprise terms and conditions.
- Delayed closing process.
- Weak commitment and lack of personalized service.
Conventional requirements at a glance
- Purchase: 97% LTV (3% down)
- Rate & Term Refinance: 95% LTV
- Cash-Out Refinance: 80% LTV under standard guidelines, and up to 90% LTV through a limited-availability program with a select wholesale lender
Want to know which loan you qualify for?
Put AAA Capital Funding's expanded guidelines and competitive pricing to work for you.
Let's start the process and see how much you qualify for today.
Get Pre-Approved with Our Flexible Conventional Program TodayNo pre-payment penalties, just great rates and service since 1997.
Want to know what you qualify for?
One call, under ten minutes, no application and no credit pull. We'll run your real numbers and show you what you qualify for and what the payment comes to.
AAA Capital Funding, Inc. · NMLS #374739 · Jason J. Sarji, NMLS #374700