Capital Home Mortgage Florida

Florida Conventional Home Loans

Florida Conventional Mortgage Lender

Conventional Home Loans In Florida

What is a Conventional Loan?

A conventional mortgage is a home loan not guaranteed by a government agency such as the Department of Veterans Affairs or the Federal Housing Administration. Private lenders such as banks, credit unions, and other financial institutions often provide and secure conventional loans.

Conventional loans are frequently compared with government-backed loans, such as FHA, designed to assist homebuyers with imperfect credit or limited down payment funds. However, conventional loans are popular with buyers and account for a significant share of purchases and refinances.

A conventional loan is distinguished by the fact that it meets the requirements of government-sponsored enterprises, Fannie Mae or Freddie Mac. This means that conventional loans must adhere to specific lending rules established by these institutions, such as loan size limitations and borrower creditworthiness.

Conventional Conforming vs. Non-Conforming Loans

A conventional loan can either be conforming or non-conforming. The main difference is whether they meet the requirements established by Fannie Mae and Freddie Mac and the Federal Housing Finance Agency (FHFA), which governs them.

A conventional conforming loan meets the criteria for sale to Fannie Mae or Freddie Mac, two major mortgage buyers in the United States. Conforming loans are subject to a monetary limit that varies yearly. The maximum in most regions of the United States in 2023 is $726,200; however, it is higher in some more pricey areas.

A typical non-conforming loan, on the other hand, does not fulfill the requirements established by Fannie Mae, Freddie Mac, and the FHFA and hence cannot be sold to either Fannie Mae or Freddie Mac. Non-conforming loans often have a considerably broader range of loan kinds and features, which may vary depending on the lender.

Qualification Requirements of a Conventional Conforming Loan

The qualification requirements for a conventional conforming loan typically include the following:

  • Credit Score

A credit score of at least 620 is usually required for borrowers to qualify for a conventional conforming loan. Credit scores of 740 or above may be eligible for reduced down payments and better interest rates.

  • Debt-to-Income Ratio

The DTI ratio should generally be less than 43%, though this may vary based on the borrower’s credit score. Some lenders may need a DTI ratio of less than 45% for conforming loans.

  • Down Payment

A conforming loan typically requires a minimum down payment of 3 – 5% or more, depending on the borrower’s credit score. Borrowers may need mortgage insurance if their down payment is less than 20%.

  • Employment and Income

Borrowers should have a consistent employment history and enough income to cover monthly mortgage payments. A two-year verifiable work history is required to qualify for a conventional loan.

  • Loan Limits

The loan amount must be less than the Federal Housing Finance Agency’s conforming loan maximum. In 2023, the maximum for most of the United States is $726,200, but it may be as high as $1,089,300 in high-cost areas.

Apply for a Conventional Loan with Capital Home Mortgage

Buying a home is a huge accomplishment, and Capital Home Mortgage can assist in making the process as straightforward and enjoyable as possible. We are a full-service home mortgage company with a diverse range of mortgage products and a commitment to offering unrivaled customer service.

Call us at (239) 310-5599 to speak with one of our Home Loan Specialists and get started on your journey to homeownership!

Why Florida HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Florida Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Florida Conventional Purchase Loans

Conventional Purchase Mortgage Lender
  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • MAXIMUM LOAN AMOUNT – $766,550

Florida Conventional Refinance Loans

Conventional Refinance Mortgage Lender
  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Florida Conventional Renovation Loans

Conventional Renovation Mortgage Loans
  • 95% LTV Primary  Residence
  • 97% LTV 1st Time Buyer Single Family
  • 85% LTV on 1 Unit Investment
  • 90% LTV on Second Home
  • Minimum Credit Score 620
  • Luxury Renovations are Eligible
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)
Florida Mortgage Programs

Florida Home Purchase

Thinking of Buying a Florida Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Florida renovation home loans

Looking to Rehab a Florida Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Florida FHA Home Loans

Great for 1st Time Florida Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Florida VA Home Loans

100% Financing for Florida Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Florida Conventional Home Loans

Flexibility for Florida Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Florida Jumbo Home Loans

Florida Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Florida USDA Home Loans

100% Rural Florida Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Florida Native American Home Loans

Florida HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Florida Manufactured Home Loans

Great Alternative Florida Housing

Florida reverse mortgages

Your Florida Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Florida Non QM Home Loans

Making Florida Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Florida One Time Close Home Loans

Build Your Florida Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Florida Refinance Mortgage Loans

Florida Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Florida Cash-out Home mortgages

Florida Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Florida Mortgage Team

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