Conventional Loans

What is a Conventional Mortgage Loan?

A “conventional mortgage” simply refers to any mortgage loan that is not insured or guaranteed by the federal government. Conventional mortgage loans can be both fixed mortgages or adjustable-rate mortgages. These types of loans may be conforming or non-conforming, with the former meeting the standards set forth by government-sponsored enterprises Fannie Mae and Freddie Mac.

Conventional Mortgage Loan Down Payment Requirements

3% down payment for First Time 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.

What are the Requirements for getting a Conventional Mortgage Loan?

620 minimum credit score.
Florida properties only on condos, single-family homes, and townhomes.
4 year waiting period for prior short sales, and bankruptcies.
50% maximum DTI.
Down payment can be gifted from a relative.
Click here to see Florida’s County Loan Limits.

Client Reviews

First Florida Financial was highly recommended by a friend to help with a complex home sale. Eddie and his team found solutions quickly that no other mortgage experts could develop.…read more →

Joseph Coughlin

Dealing with First Florida Financial was truly a great experience. Eddie got back to me immediately in the early stages of the loan and got the ball rolling quickly! After…read more →

Ash Smith

Applying for a loan is extremely stressful but my experience has been amazing. Eddie always puts the client's interest first and is extremely honest and respectful. He is of unparalleled…read more →

Jose Valle

We want to thank a million times to Eddie Hoskins and his team at First Florida Financial Group. Everything, from initiating contact with Eddie on a Saturday afternoon about five…read more →

Daniela Radu

Eddie and Simone exceeded my expectations. Eddie's team was able to offer me a loan that very few lenders do with less money down. We went through the process without…read more →

Ivania Marin Morales

From the first call to the closing Eddie and his team were available 7 days a week for any question or even to just guide us through the process. He…read more →

Bruce Baerwalde

I found First Florida through a web search borne out of frustration. I knew there had to be financing out there that would allow me to get a large mortgage…read more →

Sara P

I found Eddie and First FL Financial solely by accident doing an internet search. I could of not been happier that I did. I have never met him in person,…read more →

James Villano

Eddie and his team are amazing and a pleasure to work with every step of the way! Eddie is by far the best mortgage person I have ever known and…read more →

Susan Schmidt

Eddie and Simone were awesome to deal with. The entire process was handled professionally and smoothly. I can honestly say that this was the first time that I have purchased…read more →

Jan Brown

Waste no time. Eddie will get the job done. I started working with big banks assuming I was in good hands. My wife found Eddie searching online and I was…read more →

Josue Quinones

Eddie and his team did a fantastic job. I had a very complicated file and the team communicated thoroughly throughout the entire process and came up with solutions when others…read more →

Mike Lendino

Excellent Company! I was looking for a Jumbo Loan and didn't want to put 20% down, I found a lot of lenders offering 10% down payment and then I found…read more →

Robert S.

I want to thank the entire team for getting us Thru the VA home loan process. Your E Zip Mortgage online system made it smooth and EASY. Being a return customer…read more →

Fred Elder

Eddie and his team did an excellent job preparing and guiding me through the application process. It was quick and painless compared to the many other mortgages I have applied…read more →

Eddie Babin

Words cannot describe how grateful we are for Eddie Hoskins and his team. My family and I have recently relocated to FL from Mi. My husband just started a new…read more →

Jesika Morgrette

Eddie and the First Florida Financial team were nothing short of outstanding! This was, by far, the most straightforward, professional mortgage loan process we have ever experienced. Eddie has an…read more →

Gordon Fraser

Eddie was my hero throughout the home buying process. I had a somewhat complicated situation, and he made the loan possible where others couldn't. The E ZIP process was fast…read more →

Michele Johnson

Thank you, Eddie Hoskins and his dedicated and skillful staff were able to make the impossible possible! I will honestly say that he is the most competent and knowledgeable loan officer…read more →

Alex Khademi

Eddie, I know it has been over a week since we last spoke but we have been so busy with the move into our "new home"! The key word is…read more →

Jose & Kimberly Arencibia

Dear Eddie, I would like to personally thank you for your help in arranging the refinance of our home we built in St. James City. You not only delivered…read more →

Jonna Bouchard

Dear Eddie, Thank you for all your support during the last year. I will always recommend you for loans to my friends and family. You did an outstanding job…read more →

Nancy Britton

Thank you, Eddie, for putting this mortgage together for me. I was operating on a meager budget with a limited amount of savings and you came through for me.…read more →

Stephen Hershkowitz

Eddie Hoskins and his team at First Florida Financial really helped me when others had declined on me. He was able to work out a deal in a very…read more →

Charles Knowlton

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Comparing Current Florida Mortgage Rates

Finding the lowest Florida mortgage rate is very important, that’s why we’ve already searched them for you, getting the lowest interest rate possible could save you hundreds of dollars a year and thousands of dollars over the life of your loan. Yes, having us find you the best interest rate is a big deal.

Current Florida Mortgage Rates

When you “CLICK HERE” you’ll instantly see today’s lowest mortgage rates. If you see an interest rate you like, you can click to head straight to get your Custom Rate Quote.

Why Should You Choose Us For Your Home Loan?

We work for You & Not the Bank. When working with us, your not “stuck” with ONE bank’s restrictive set of underwriting guidelines, which can put caps on your debt to income ratio or require a lot of mortgage reserves! We always seek out the best lender to suit your specific situation and find lenders with the Best Mortgage Rates! Oh, Ya we don’t keep bankers hours we always answer your phone calls and text messages in the evening and on the weekends…. because we don’t get paid a salary…. we only get paid when your loan closes and most of the time we get paid by the lender and not by you!

We offer the Best Mortgage Rates!

Our “Outside The Box Thinking” gets home loans approved and closed every day through a variety of unique loan products! One-Year Tax Returns, Cross Collateralizing Properties, Assets as Income, Bank Statement as Income, and No Income Verification Investment Loans. Along with our years of experience and understanding tax returns, knowing what expenses to add back in and how to stretch your funds to pay off debts to reduce your DTI. If necessary, we can try to increase your credit score, then do a rapid credit re-score.

Get Pre-Qualified Fast, see you’re credit scores immediately, and close in 30 days or less with our E Zip Mortgage! It’s all online, reduces paperwork, and provides you with a secure, collaborative document upload portal that regularly notifies you via text messaging & emails with all loan updates. Get Started Now!

Our Professional and Experianced Team of Loan Officers are ready to help you.

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