Conventional Loan Fort Lauderdale | Conventional Mortgage Loans Florida

Buying and owning a home is a dream everyone’s dreams of. However, we often need some assistance to be able to afford a home that meets all our your requirements. Conventional loans are one way you can materialize that dream home and make it a reality.

Florida State Mortgage Group, Inc. provides conventional loans. We understand that owning your a home does not happen for many people in the US. Conventional loans offered by mortgage lenders in Fort Lauderdale can turn that around.

Our goal is to make sure everyone has a chance to make their dreams come true. We are qualified and vetted to offer conventional loans in Fort Lauderdale when commercial banks fail to do so.

Being Florida natives, we are fully aware of the market and its trends along with the issues that locals face when it comes to financing. We aim to make right these issues and find effective solutions.

What are Conventional Loans?

To make it simple, conventional loans in Fort Lauderdale are those that are or not backed by government agencies, such as the Federal Housing Administration (FHA) and VA. However, they are in compliance with strict eligibility guidelines set by Fannie Mae and Freddie Mac.

Both of these stock-holding companies purchase loans from lending institutions and resell to the investment community. Each year, they reevaluate and redefine restrictions.

Typically, conventional loans have better rates and terms compared to other forms of loans. Also, down payments can be as low as 3% or as high as approximately 20% and the time-frame for paying off the loan may be between 10 to 30 years.

Am I Qualified for a Conventional Loan?

The terms and fee of securing a conventional loan depend on various factors. The borrower’s profile, credit score, the property in question, the down payment, and the lender all impact eligibility.

To get approved for a conventional loan in Fort Lauderdale, you need to meet the following requirements:

A solid score on a good-excellent scale. The better the credit score, the better the chances you have of qualifying for better rates, fees, and terms.

The property you’re buying should be qualified and meet the limits set by Freddie Mac and Fannie Mae.

You need sufficient funds to cover a down payment. By working with leading lenders, we offer conventional loans that can help you find a loan with a down payment as little as 3%.

What are Fixed Rate Conventional Loans?

Fixed rate loans are a type of conventional loans. They are fully amortized loans that have a fixed interest rate. This means that the rate will not rise or fall over the term your mortgage lasts.

Understandably, these are the most commonly applied for. They offer borrowers more security as the mortgage payments won’t change over time. These loans amortize over a period of 15, 20 or 30 years.

Adjustable Rate Loans

Compared to Fixed Rate Loans, these loans initially offer lower interest rates. They are more suited to the needs of borrowers who accept the probability of fluctuating interest rates. In most cases, this is to take advantage of a low interest rate at the beginning.

Unlike fixed rate conventional loans, these are set for 5- to 7-year terms. These are based on 30- year amortized loans.

Single- Family
Home and Condos

$484,350

(Monroe County $529,000)

2 Units

$620,200

(Monroe County $677,200)

3 Units

$749,650

(Monroe County $818,600)

4 Units

$931,600

(Monroe County $1,017,300)

Furthermore, self-employed borrowers need to provide 1 year’s income to qualify for a conforming loan. First-time home buyers are eligible to receive a Florida Mortgage Credit Certificate (MCC).

What Our Clients Are Saying

Florida State Mortgage Group, Inc.

5.0

Based on 26 reviews

See all reviews Write a review

Leo SouthFlorida

19:09 25 Sep 23

Knowledge is the key and these realtors and mortgage brokers know Fort Lauderdale and the other areas of Broward like no one else. They made the impossible possible in this crazy housing market.

Harry Kreisberger

20:07 15 Sep 23

Stephen is an expert in this bussiness.Excellent attention, fast respond to all our questions.

M Romanowski

16:37 13 Sep 23

The very best Fort Lauderdale mortgage broker is Steve McWilliam. I was working with several Fort Lauderdale real estate agents and mortgage brokers and only Steve was able to help me as a first time home buyer.

Scott Mason

02:17 22 Oct 22

Steve and his team did a fantastic job with my loan and I would highly recommend! They are extremely knowledgeable and professional and will certainly use them again! I have had a few other friends use Steve and they all have positive things to say. 5 stars!

Isabel Echeverry

13:54 08 Oct 22

Stephen and Betty over delivered not only my needs in securing a loan to purchase my dream house but we’re profferesional and courteous every step of the way. I am blessed to have had met them. Thank you GOD

James Basile

03:11 20 Nov 21

From my first call to Steve Mc William to the second we closed, it was the best service ever. I felt as if I were their only customer. Everything was top notch and professional.

Stephen Brathwaite

15:59 19 Nov 21

J C

21:36 13 Nov 21

Mr McWilliam was extremely thorough and informative. He even provided excellent advice on some other non related mortgage questions I had. He listened carefully to my goals and provided me with the best product for my financial situation. I have never met any one so thorough. Thank you.

Crystal Torres

14:04 12 Nov 21

angelo cedeno

21:26 08 Nov 21

Linda Rosen

19:27 18 Jan 21

Steve did a great job on our refi. Thanks for making it happen.

Lana Mihova

16:22 13 Feb 20

Stephen McWilliam was an amazing person to deal with. Our deal was pretty complicated on all aspects and he was so professional, he got it done !!! Thank you so much for all the hard work you put into this deal!!!

Erica Bethe Levin

16:21 22 Jan 20

Working with Steve and Florida State Mortgage Group was singlehandedly the best and most seamless part of buying our home. I could not recommend them more highly.

Charlie Crusher

14:45 14 Jan 20

Stephen went above and beyond to help me in my situation. Thank You 👍

Brian Mosher

15:02 13 Jan 20

Steve did a wonderful job securing a mortgage for me based on the parameters I gave and seeing everything through to completion. No hiccups for me along the way in a process that can be very painful if not managed well.

Shannon Dameron

01:34 12 Jan 20

Steve and the team at Florida State Mortgage Group are exceptional. I was looking for a townhouse for my family when Steve and his team were referred to me. Florida State Mortgage Group showed me I could easily afford a single family home. Steve handled everything from providing a list of homes, securing the home loan, insurance options and closing.I’ve referred Florida State Mortgage Group to friends and family. Each person has experienced the same level of knowledge and quality of service.5 STARS

Florida Guy

19:08 11 Jan 20

I was very pleased with Steve and the ease of the process. No hiccups or surprises. Highly recommended for mortgage services.

Michelle Vantine

17:20 08 Jul 19

I worked with Betty to buy my first house here in South Florida and I could not be happier! She was amazing. She was always available to answer my questions and she was very patient. She was extremely knowledgeable, even getting me approved for a HUGE tax exemption I will receive annually . She always had all the paper work ready on time and explained everything in detail. I could not image a better agent. I'm SO glad we made the decision to work with her. Thanks Betty!

Justin Pyka

16:01 08 Jul 19

Betty did an amazing job originating our loan. She is knowledgeable, accessible, and eager to provide the best for her clients. I HIGHLY recommend her!

Ganel Appolon

00:59 26 Feb 19

you guys are doing a great job keep it up.

Mike Heller

17:15 20 Feb 19

Natalie Rodriguez

20:59 12 Feb 19

We had a great experience with Florida State Mortgage Group. Would recommend them and will use them again in the future.

Sean Zamora

18:28 05 Feb 19

Steve McWilliam was a tremendous help in securing my mortgage a few years ago. He’s also been a great source of knowledge in the time since. I highly recommend him as someone you can trust.

Scott Yankton

17:42 04 Feb 19

The smartest, most helpful and insightful mortgage loan person I’ve ever used. On our first attempt to buy he saved us from disaster. On our second attempt he was finished and ready to close before everyone else! Our loan was a VA so we expected it to take extra time...nope. For our next loan we won’t use anyone else.

Mike McGraw

03:25 03 Feb 19

Knowledgeable, Professional and results oriented!!

Hugh Bruder

19:22 02 Feb 19

If your looking for a highly professional, easy to work with and lightning fast mortgage team, then Florida State Mortgage is for you.I wouldn’t go anywhere else for my mortgage needs.Hugh B.Davie, Florida

Florida State Mortgage Group, Inc. specializes in all forms of conventional loans in Fort Lauderdale and other Florida locations.

Give us a call today at(954) 359-3000 to find out what options are available to you, or click the button below to get started.

FREE Mortgage Rate Quote!

Florida State Mortgage Group, Inc. 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.

(954) 359-3000

Conventional Loans in Fort Lauderdale
with as Little as 3% Down

What are Conventional Loans?

Am I Qualified for a Conventional Loan?

What are Fixed Rate Conventional Loans?

Adjustable Rate Loans

$484,350

$620,200

$749,650

$931,600

What Our Clients Are Saying

Florida State Mortgage Group, Inc. specializes in all forms of conventional loans in Fort Lauderdale and other Florida locations.

Fort Lauderdale's Top-Rated Mortgage Company

Quick Links

Loan Options

Contact

Connect with us

Conventional Loans in Fort Lauderdalewith as Little as 3% Down

What are Conventional Loans?

Am I Qualified for a Conventional Loan?

What are Fixed Rate Conventional Loans?

Adjustable Rate Loans

$484,350

$620,200

$749,650

$931,600

What Our Clients Are Saying

Florida State Mortgage Group, Inc. specializes in all forms of conventional loans in Fort Lauderdale and other Florida locations.

Fort Lauderdale's Top-Rated Mortgage Company

Quick Links

Connect with us

Conventional Loans in Fort Lauderdale
with as Little as 3% Down