Florida Conventional Loans 2026
Conventional mortgages offer Florida buyers the most flexibility: removable PMI, competitive rates, and easier condo approvals. With conforming limits up to $832,750 in most metro areas, conventional financing covers the majority of Florida homes.
Yes, Florida buyers can get a conventional loan with as little as 3% down, and unlike FHA, the mortgage insurance is removable once you reach 20% equity, which Florida's appreciation often makes possible quickly. The 2026 conforming limit is $832,750 in most Florida counties and $1,249,125 in Monroe County (the Keys), covering the majority of Florida homes without a jumbo loan. Conventional is also the most condo-friendly option in Florida, since more buildings are approved for conventional than for FHA. As a broker licensed in Florida with access to 240+ wholesale lenders, I help buyers weigh conventional against FHA and structure the lowest true cost.
What are today's conventional loan rates in Florida?
Today’s 30-Year Fixed (Conventional) Rate
Conventional – Primary Residence
Rate Assumptions
30 year fixed, $300k loan amount, $400k value, purchase, FICO Credit Score 759, Zipcode 92867
APR & Disclosures
The Annual Percentage Rate (APR) shown reflects the cost of credit over the loan term, including applicable fees, and is based on the assumptions above. Your actual rate and APR depend on your credit profile, loan amount, property, occupancy, and other factors. For information purposes only and does not constitute a loan approval or commitment to lend. Rates are subject to change without notice.
When does PMI go away on a Florida conventional loan?
Unlike FHA's lifetime mortgage insurance, conventional PMI is temporary. Once you reach 20% equity, through payments or Florida's healthy appreciation, PMI is removed.
Request Removal at 80% LTV
Contact your servicer when your loan balance reaches 80% of original value or current appraised value.
Auto-Cancel at 78% LTV
By law, PMI automatically terminates when scheduled payments bring you to 78% LTV.
Florida Appreciation Advantage
Many Florida markets have seen 5-8% annual appreciation. A new appraisal can prove 80% LTV faster.
What are the 2026 conventional loan limits in Florida?
Conforming loan limits vary by county. Loans exceeding these limits require jumbo financing.
| County / Metro Area | 2026 Limit | Classification |
|---|---|---|
Monroe (Florida Keys) | $1,249,125 | High-Cost |
Palm Beach | $832,750 | Baseline |
Collier (Naples) | $832,750 | Baseline |
Miami-Dade | $832,750 | Baseline |
Broward (Fort Lauderdale) | $832,750 | Baseline |
Orange (Orlando) | $832,750 | Baseline |
Hillsborough (Tampa) | $832,750 | Baseline |
Duval (Jacksonville) | $832,750 | Baseline |
Verified as of July 2026 (FHFA/HUD)
How much down payment do I need for a conventional loan in Florida?
3% Down
HomeReady and Home Possible programs for first-time buyers with income under area median limits.
5-10% Down
Standard conventional with moderate PMI. Popular choice for Florida buyers balancing cash reserves.
20%+ Down
No PMI ever. Best rates, lowest monthly payment. Ideal for buyers with substantial savings.
Estimate Your Florida Monthly Payment
Florida's 2026 conforming loan limit is $832,750 for a single-unit home. Adjust the price, down payment, rate, and term to see your full monthly payment.
Monthly Payment Calculator
Calculate your estimated monthly mortgage payment including taxes, insurance, and HOA dues
Annual % of home price. Adjust in eighths (0.125%).
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Reviewed by Emmett Clark
NMLS #233747 • 20+ Years Experience • Florida Conventional Specialist
"For Florida condo buyers, conventional is often the clear winner. More buildings are approved for conventional than FHA, and you avoid the lifetime MIP. I always run both scenarios for clients; sometimes FHA wins on rate, but conventional wins on long-term cost when you factor in PMI removal."
Florida Conventional Loan FAQs
What is the conventional loan limit in Florida for 2026?
Most Florida counties use the 2026 baseline of $832,750, and Monroe County (the Keys) uses $1,249,125. Loans above your county's limit are jumbo loans.
When can I remove PMI on a Florida conventional loan?
You can request removal at 80% loan-to-value through payments or appreciation, and it cancels automatically at 78%. Florida's strong appreciation often lets homeowners reach 80% equity, and remove PMI, sooner than expected.
What credit score do I need for a conventional loan in Florida?
Most conventional loans require a 620 minimum, with the best rates and lowest PMI at 740-plus. Scores of 680 to 739 still get competitive terms.
Is conventional or FHA better for a Florida condo?
Usually conventional, because more Florida condo buildings are conventional-approved than FHA-approved, and conventional avoids lifetime mortgage insurance. Confirm the building's approval and reserves before making an offer.
Can I get a conventional loan for a Florida second home or investment property?
Yes. Conventional allows second homes and investment properties, unlike FHA and VA. Expect a higher down payment and rate than a primary residence. Investors can also consider a DSCR loan.
How much down do I need for a Florida conventional loan?
As little as 3% for eligible first-time buyers, 5% for standard financing, or 20% to avoid PMI entirely. The right choice depends on your reserves and monthly budget, including Florida insurance costs.
Explore Other Florida Loan Options
Get Your Conventional Loan Quote
Connect with Emmett directly. Quick response, personalized guidance for your Florida home purchase.
Why Contact Emmett?
- ✓ Local Florida market expertise
- ✓ Access to 240+ wholesale lenders
- ✓ Same-day pre-qualification available
- ✓ No obligation, free consultation
From the blog & learning center
Conventional Loan Guides & Articles
What Is PMI and How Do I Get Rid of It?
Private mortgage insurance (PMI) is a monthly charge added to conventional loans when you put down less than 20%. On most conventional loans it cancels automatically once you reach 22% equity, and you can request removal at 20%.
Read more
2026 Conforming Loan Limits by County: High-Cost Areas in the 18 States I Serve
The 2026 baseline conforming loan limit is $832,750, but 9 of the 18 states I'm licensed in have counties with higher limits — here's the exact figure for every above-baseline county.
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Down Payment Assistance Programs by State
Most states offer some form of down payment assistance, and many buyers qualify without realizing it.
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Down Payment Reality Check: How Much You Actually Need
You don't need 20% down to buy a house.
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How Much Down Payment Do You Need for a Conventional Loan?
The 20% rule is a myth. On a conventional loan you can put down as little as 3% as a first-time buyer or 5% otherwise, with 5% required on high-balance loans. Here is how to find your real down payment number.
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How to Buy a House With Little Money Saved
You can buy a home with very little saved by combining a low or zero down payment loan with down payment assistance and seller-paid or lender-paid closing costs.
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