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.
Plain-English explanation
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.
What can change the answer?
Gift source, seller credit limits, DPA program rules, source-of-funds documentation, and program eligibility (HomeReady, Home Possible) can change the answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
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.