Is earnest money required on a conventional loan?
Not by Fannie/Freddie — earnest money is a contract term between buyer and seller, not a conventional loan requirement. Florida purchase contracts almost always include earnest money to make the offer credible. Source of the earnest money has to be documented for underwriting.
What this actually means.
Lenders don't impose an earnest money requirement directly. The Florida purchase contract sets the deposit. Stronger earnest money signals a serious offer in a competitive market. The funds have to come from a sourced and seasoned account, and the deposit shows up on the Closing Disclosure as a credit toward cash to close. Subject to underwriting.
Where this can move.
Gift source, seller credit limits, DPA program rules, source-of-funds documentation, and program eligibility (HomeReady, Home Possible) can change the answer.
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More conventional questions on Down Payment.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.