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Conventional loans are defined as any loans which do not exceed the conventional loan limits which have been established by Fannie Mae and Freddie Mac. Both fixed and adjustable rates are available, and you can choose a term which fits your budget and timeline for paying off your loan.
The conventional loan limits for Broward, Miami-Dade, Palm Beach, & the surrounding areas are:
Shopping for a home which exceeds these limits? You are in the market for a jumbo loan. Please see this page for more details.
If you are looking for a loan which is government-insured, we also offer VA, FHA and USDA loans. Those who are eligible for these loan programs may have a low down payment or no down payment and enjoy additional benefits. Ask us about these programs while you are consulting with us.
A conventional home loan can be used to purchase a home, lower the term and/or rate of an existing mortgage, or consolidate debt. Unlike FHA, VA, & USDA loans that are utilized on primary homes only, conventional loans can also be used to purchase or refinance second homes & investment properties.
When you work with Premier Lending Corp, we start out by consulting with you to understand your needs and goals. That way we can connect you with a loan which will be ideal for your finances and plans.
You get to choose between adjustable and fixed interest rates. With a selection of loan terms available, you can look forward to a mortgage which is tailored to your requirements. We strive to offer some of the most competitive rates in the area along with affordable down payments.
Eligibility for a conventional loan is not as involved as qualification for a special government-backed loan program. The requirements are fairly basic:
620 minimum credit score for primary purchases. (Credit score requirements may vary depending on the occupancy & credit profile.)
10% down for second home purchases
3% down payment for 1st time home buyers
15% down for investment purchases
5% down payment for primary purchases for non-first time home buyers
2-year work history
With over 25 years of experience helping customers achieve their dreams of homeownership, we would love the opportunity to guide you in the right direction of achieving that dream.
Please call us at 954-840-8811 to schedule your consultation. Based on the information you share with us regarding your finances and your housing goals in South Florida and throughout the state, we can assist you in determining whether a conventional loan is the best fit for you.
Contact us now to get started.Get Pre-Approved Today!
Premier Lending Corp is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.