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Mortgage Program Options

 

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 Rates subject to change without notice

 Conforming Loan amounts up to $806,500 | FHA Loan Limits are specific to each Florida County
Check to See Florida FHA loan limits here

Conforming Mortgage Rates

Conforming Mortgage Programs

The Conforming Mortgage Program [ also known as Conventional ] is a great option when you are looking to purchase a new home as a primary residence, second home or investment property. These types of loans are generally below the standard conventional loan limit of $766,550 for 2024 for a single family residence and make up the majority of home loans sold in America today. There are also established guidelines required for credit scores, income, work history, and minimum down payments.

What Are the Advantages of Conforming Mortgages?

  • Verified Gift funds OK
  • Minimum down payment of 3% for HomeReady and 5% for traditional 
  • No prepayment penalty ever
  • 30yr, 25yr, 20yr, 15yr, or 10yr


What Are the Requirements?

  • Minimum credit score 620
  • Income must be verified
  • Employment must be verified
  • Down payment must be verified 
  • Debt to income ratio under 50%
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2025 Conforming Loan Limits

The standard conventional loan limit for 2025 is $806,500. A qualifying refinance applicant can open a loan for at least this amount anywhere in the country. But Fannie and Freddie allow higher limits in some areas. Homeowners in areas with high housing costs should check their conventional loan limit before they assume they need a jumbo loan.

Click here for a complete list of 2025 conforming loan limits.

Fannie Mae HomeReady 3% Down Payment

HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing.


Freddie Mac Home Possible 3% Down Payment

Designed for low-to-moderate income home-buyers and/or individuals purchasing or refinancing properties in target areas. Maximum financing and minimum credit score requirements are determined based on the loan product type.

LEARN MORE ABOUT OUR 3% DOWN PAYMENT PROGRAM

When you are ready to get started with the home buying process, we are experts to guide you through the entire process, the first step is getting you pre-approved. You can click on the button below or apply online; if you prefer to speak with one of our Home Buyer Experts, we would be happy to speak with you at 888 259 2257.