Conventional Loans Florida

Fixed Rate & Adjustable Rate

Conventional Loans Florida

Fixed Rate & Adjustable Rate


Fixed Rate & Adjustable Rate


A Conventional Loan is a home loan is generally that insured and underwritten to either of the federal government GSE’s, and are underwritten to the guidelines of these government entities Fannie Mae and Freddie Mac.

Did you know? -As with most amortized loans, the initial payments of your 30-year fixed rate mortgage are primarily devoted to paying of interest. As the years roll by, this will gradually shift and you’ll reach a point where your monthly payments cover more principal than interest.

What does this mean? As you embark on your 30-year fixed rate mortgage, your first couple years of mortgage payments won’t make much of a dent in your loan’s principal balance. Once you pay off most of the interest, the latter years of your mortgage will be devoted to your principal and you’ll see your mortgage balance decrease dramatically.

Fixed rate loans are the standard loan type for the majority of home financing, and are available in a variety of terms from 10 to 30 years. This loan type offers a consistent or “fixed” payment throughout the life of the loan. Standard fixed rate terms: 10, 15, 20, 25 or 30 years. By choosing a shorter fixed rate option, you can realize a substantial savings in interest over the life of the loan.


Adjustable rate mortgages (arms) are a great fit for home buyers who plan to sell or refinance their home between 3 and 10 years or looking for the lowest possible mortgage rate available. Adjustable rate mortgages are fixed for periods of five to ten years. After that period, your interest rate will either go up, or down depending on market conditions and mortgage rates at that time.

Florida Conventional Loan Limits – The maximum loan amount allowed for a Conventional Conforming Loan is $424,100. However, in high cost areas, there are Conventional Super Conforming Limits currently up to $729,750. To check loan limits in your area, please give us a call and one of our licensed loan officers will be happy to assist you.


Florida Conventional Home Loans


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