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Updated Sep 12, 2018 2:40 PM


3.875% (4.673% APR)


3.750% (4.606% APR)


3.625% (4.560% APR)
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Florida's Best Rates on Conventional, Fixed-Rate Mortgages

What should you know about conventional Florida mortgages?

In Florida, conventional mortgage loans can be fixed-rate loans, adjustable-rate loans or loans with unique terms and conditions set by the mortgage lender.

Unlike government backed mortgage loans, such as VA and FHA loans, conventional mortgage loans are not guaranteed by the government, giving them the flexibility to vary widely in their terms, criteria, and underwriting requirements.

Fixed rate mortgages (FRMs) are the most popular type of mortgage loan– and for good reason. They are designed to provide you with the peace of mind that your mortgage payments of principal and interest will stay stable for the life of your loan, hence the term “fixed.” Unlike an adjustable rate mortgage, your monthly payment amount will never increase due to adjustments by your mortgage lender or fluctuations in the market.

At Florida Home Funding, we only offer fixed-rate mortgage loans.

Conventional 15 & 30-Year Loan FAQs

What is the minimum downpayment?

Conventional loan standards for approval are based on predetermined loan-to-value ratios and the borrower’s credit history. Typically, a 5% downpayment is required for conventional mortgages.

When shouldn't I consider paying discount points?

There are really only two scenarios in which paying points doesn’t prove beneficial:

A. If you’re considering refinancing but plan on selling your home in the near future (5 to 7 years) then it makes more sense to pay no discount points and go with a limited closing cost loan. Otherwise, by the time you recuperate the cost associated with your interest rate, you would have wasted the equity in your home.

B. If you have limited funds and don’t plan on retiring in your home then you do not want to waste money in buying down the rate with discount points.  You would probably be better served opting for the lowest interest rate with limited closing costs and keeping your money in the bank.

What are "conforming loans?"

Lenders who desire to eventually sell their loans to either Fannie Mae or Freddie Mac must conform to their respective underwriting guidelines. Loans which conform to these Fannie Mae and Freddie Mac underwriting guidelines are called “conforming loans.”