Conventional Home Loans in Florida
Conventional is Florida’s all-purpose mortgage: from 3 percent down for eligible buyers, the main route for condos and second homes, and mortgage insurance you can cancel as equity grows. Florida adds two loan taxes most states do not have, documentary stamps and the intangible tax, so we quote them up front. Licensed statewide, in all 67 counties.
Florida Mortgage Broker License MBR3694 and Mortgage Lender License MLD2100. NMLS #1925352.
Conventional in Florida, 2026
Conforming limit
$832,750 ($990,150 in Monroe)
Down payment
From 3% for eligible buyers; 10% second home; 15% rental
Mortgage insurance
Cancellable at 80% of original value, none from 20% down
State taxes on the loan
Documentary stamps $0.35 per $100 plus 0.2% intangible tax
Closing
Title company, mobile notary or remote online notarization
3%
Minimum down payment on a first home
$0.35
Documentary stamps per $100 of the loan, plus 0.2% intangible
67
Florida counties, licensed statewide
4.9
Average of 5,300+ Google reviews
Why conventional carries the Florida market.
Florida runs on property types the government programs handle awkwardly: condos, second homes and rentals. Conventional finances all three under one set of rules, from 3 percent down for eligible buyers, 10 on a second home and 15 on a rental, with mortgage insurance that prices by credit score, cancels at 80 percent of the original value on request and ends automatically at 78 percent while the loan is current.
Two Florida taxes sit on every mortgage: documentary stamps on the note at $0.35 per $100 and the intangible tax at 0.2 percent of the loan, both customarily paid by the buyer on a purchase and due again on a refinance. On a $400,000 loan that is $2,200 before the lender’s and title fees, which is why our quotes itemize them from the first estimate. The deed-side stamps, by contrast, are the seller’s custom, and the owner’s title policy is seller-paid in most counties, with Miami-Dade, Broward, Sarasota and Collier the exceptions.
This page covers conventional loans in Florida. For the state as a whole, see our Florida page; the conventional hub explains the program itself. FHA in Florida is the comparison at lower scores, and buying in Florida and refinancing in Florida cover the transactions end to end.
Conventional guidelines, and what Florida adds.
The first two columns are the Fannie Mae and Freddie Mac rules every lender starts from; the last is the Florida layer. Your pro confirms which apply to your file.
| Requirement | Guideline | In Florida |
|---|---|---|
| Down payment | As little as 3% on some programs for eligible buyers, commonly 5%; 10% second home; 15% rental | Second-home and rental files are a Florida staple; how the home will be used changes the pricing |
| Credit score | Usually 620; best pricing from about 740 | Same statewide; the score sets the rate and the mortgage insurance premium |
| Mortgage insurance | Required under 20% down; cancellable at 80% of original value, automatic at 78% while the loan is current | No state wrinkle; the bigger Florida variable is the homeowner’s insurance in the escrow |
| Loan limit | $832,750 for one unit in 2026 | $990,150 in Monroe County; above the limit the file is jumbo |
| Condos | Project review required on attached homes | Florida reviews run deeper since 2022: budget, reserves, insurance and inspection reports all count |
| Seller contributions | 3% of the price with under 10% down, 6% with 10% to 25%, 9% above that | Credits are commonly negotiated toward the state taxes and insurance escrows |
Guidelines are Fannie Mae and Freddie Mac’s; individual lenders can be stricter. The limit is the FHFA figure for 2026 and resets each year.
Three ways Floridians use conventional.
One program, three very different files. All three close at a Florida title company, with remote online notarization available statewide.
From 3% down
Buying a home
Eligible buyers can start at 3 percent down on some programs, most at 5. From 20 percent down the mortgage insurance line disappears entirely, and the payment is principal, interest, taxes and Florida’s insurance bundle.
Condos
Financing an attached home
Conventional is the main condo program in Florida, and the project review is where files live or die: budget, reserves, insurance and inspection history. We pull the questionnaire on day one, not week three.
Second homes and rentals
The coast and the courts
A Gulf-coast second home from 10 percent down, or a rental near the parks from 15. Government programs stop at primary residences; conventional is how the rest of Florida gets financed.
In Florida, the whole payment is the comparison.
A Florida conventional quote is incomplete without the insurance bundle: homeowner’s cover including wind, flood insurance where the map requires it, and property taxes that reset with the sale price. Those escrow lines often move a Florida payment more than one rate tier does, so we put them in the first estimate rather than letting the closing disclosure deliver the news.
Mortgage insurance is the line you control. It prices by credit score and down payment, can be cancelled at 80 percent of the original value, and ends automatically at 78 percent while the loan is current. Florida’s price growth has carried many recent buyers past those marks already; we check before anyone pays a premium longer than they need to.
Pensacola to the Keys
Conventional purchases and refinances closed at a Florida title company, with a mobile notary or fully online where it suits you.
Six Florida details on a conventional file.
The state-level facts that shape cost and timing. All of them appear on your Loan Estimate from the start.
01
Documentary stamps and intangible tax
$0.35 per $100 of the loan plus 0.2 percent of the loan, buyer-paid on purchases and due again on a refinance. About $2,200 on a $400,000 mortgage, itemized on every quote.
02
Owner’s title policy custom
The seller pays for the owner’s policy in most counties; in Miami-Dade, Broward, Sarasota and Collier the buyer customarily does. The contract can always say otherwise.
03
Insurance in the escrow
Homeowner’s cover with wind, plus flood insurance where FEMA’s maps require it. The quote belongs in your pre-approval, not after the inspection.
04
Condo project review
Budget, reserves, insurance and inspection reports. Florida tightened after 2022, and starting the review early is the difference between closing on time and extending.
05
Closing your way
A title company closing, a mobile notary at your kitchen table, or remote online notarization from anywhere. Florida permits fully online closings and we use them routinely.
06
Homestead on your taxes
Florida’s homestead exemption and Save Our Homes cap apply to your primary residence through the county appraiser, own and occupy by January 1 and apply by March 1. Buying resets the assessed base.
What would a conventional payment look like?
Set the price and your down payment, then add realistic tax and insurance figures; in Florida those escrow lines carry real weight in the monthly number.
The U.S. conventional market right now.
National average rates from the Federal Reserve Bank of St. Louis FRED database: the Freddie Mac survey for conventional and the Optimal Blue indices for FHA and VA, shown as third-party market benchmarks, not MortgagePros pricing. In Florida, insurance belongs in the comparison as much as the rate does.
Conventional 30-year fixed, U.S. average
7.40%
FHA 30-year fixed, U.S. average
7.18%
VA 30-year fixed, U.S. average
7.09%
Sources: Freddie Mac Primary Mortgage Market Survey (conventional, 30-year national average, week of Oct 8, 2026) and Optimal Blue Mortgage Market Indices (FHA and VA, 30-year national averages as of Oct 8, 2026), distributed through FRED, Federal Reserve Bank of St. Louis; the figures and dates refresh automatically from the source. These are third-party market benchmarks, not MortgagePros rates and not an offer of credit. Your rate and APR depend on your credit, loan type, property and lock date.
How a conventional loan works with us in Florida.
Four steps, one licensed pro, a Florida closing wherever you are.
1
The whole payment first
Price, down payment, taxes, the insurance bundle and any mortgage insurance in one estimate, with the documentary stamps and intangible tax itemized.
2
The right structure
Down payment against pricing tiers, MI options side by side, FHA compared where the score makes it close, and the condo review started early where it applies.
3
Underwriting and appraisal
Documents in early, the appraisal ordered promptly, insurance quotes locked before they can surprise the ratio.
4
Close anywhere
Title company, mobile notary or remote online notarization. The state taxes appear on the closing statement exactly as quoted.
Ready to price a conventional loan in Florida?
A Florida-licensed pro shows you the payment, the insurance bundle, the state taxes and the mortgage insurance options on one page. Free, and it starts without a hard credit pull.
Conventional loans in Florida, answered.
The questions Florida borrowers ask us most. If yours is not here, a licensed pro will answer it directly, with no obligation.
What are the documentary stamps and the intangible tax?
Florida’s two taxes on a mortgage: documentary stamps on the note at $0.35 per $100 of the loan, and the intangible tax at 0.2 percent of the loan, both customarily buyer-paid and due again when you refinance. On a $400,000 loan they total about $2,200. They are itemized on your Loan Estimate from the first quote.
How hard is it to finance a Florida condo?
Very doable with an early start. Conventional condo files need a project review covering the association’s budget, reserves, insurance and inspection history, and Florida reviews deepened after 2022. We order the questionnaire on day one; most projects pass, and the ones that will not are better discovered before your deposit goes hard.
How much down do I need for a second home or rental?
Second homes start at 10 percent down and rentals at 15, with pricing adjustments for each. Lenders distinguish a true second home from a short-term rental, and the intended use changes both the rate and the documentation.
When does mortgage insurance come off?
You can request cancellation at 80 percent of the original value and it terminates automatically at 78 percent while the loan is current; from 20 percent down there is none at all. With Florida’s recent appreciation, many owners qualify sooner than they expect; ask your servicer which rules apply to your loan.
When is a loan jumbo in Florida?
Above $832,750 for a one-unit home in 2026 everywhere except Monroe County, where the limit is $990,150. Waterfront markets cross that line regularly; jumbo in Florida covers how those files work.
Do I have to come to Michigan?
No. Your licensed pro handles the loan by phone, email and e-signature, and Florida lets you close at a title company, with a mobile notary, or fully online by remote notarization.
Talk to a Florida-licensed pro about a conventional loan.
Tell us what you are looking to do and where in Florida. A licensed pro will call back, usually the same business day. Asking does not start a loan or require a hard credit pull.
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880 W. Long Lake Rd, Suite 300
Troy, Michigan 48098, just off I-75. Free parking.
Licensed and reviewed
Florida Mortgage Broker License MBR3694 and Mortgage Lender License MLD2100. NMLS #1925352. Rated 4.9 across 5,300+ Google reviews.