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

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

James Basile
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
Stephen Brathwaite
15:59 19 Nov 21
J C
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.read more
Crystal Torres
Crystal Torres
14:04 12 Nov 21
angelo cedeno
angelo cedeno
21:26 08 Nov 21
Linda Rosen
Linda Rosen
19:27 18 Jan 21
Steve did a great job on our refi. Thanks for making it happen.
Crystal Torres
Crystal Torres
12:15 30 Jul 20
Steve and his team at Florida State Mortgage Group, Inc. went above and beyond to help me get my mortgage for our families new home. Steve is very professional, experienced, and the company offers... excellent customer service. I highly recommend anyone in the need of a mortgage to contact Florida State Mortgage Group, Inc.read more
Lana Mihova
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!!!read more
Erica Bethe Levin
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
Charlie Crusher
14:45 14 Jan 20
Stephen went above and beyond to help me in my situation. Thank You 👍
Brian Mosher
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.read more
Shannon Dameron
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 STARSread more
Florida Guy
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.
Olga Alderson
Olga Alderson
01:02 05 Dec 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.
Queenie Sidhu
Queenie Sidhu
02:04 15 Nov 19
A great experience. Steve and FSMG was very professional and helpful throughout the process. Providing the details and comfort to know my loan was on track for a smooth closing. I would recommend... everyone that wants an easy and solid process of buying a home and getting financing to go with FSMG.read more
Hilary Slack
Hilary Slack
06:24 12 Nov 19
Very professional, fast, efficient and honest. Steve explained everything in detail and delivered as it was presented from the beginning.
Marty Tanner
Marty Tanner
07:08 04 Nov 19
This mortgage company is the best!!! I will be returning to them for the purchase of my next home!!!! They have made my dream of homeownership become a reality!!!
Eloise Hansen
Eloise Hansen
00:50 24 Oct 19
Attention to detail, time, a not just good resolution but the most or best resolution possible and beyond. Not just professional- but outstanding service.
Castro Sybil
Castro Sybil
01:54 23 Oct 19
Fast, knowledgeable, professional, and ability to get “impossible” things done. Excellent sense of urgency and able to push things through. Very articulate and always available to communicate. Very... pleased.read more
Michelle Vantine
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!read more
Justin Pyka
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
Ganel Appolon
00:59 26 Feb 19
you guys are doing a great job keep it up.
Mike Heller
Mike Heller
17:15 20 Feb 19
Natalie Rodriguez
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
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
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.read more
Mike McGraw
Mike McGraw
03:25 03 Feb 19
Knowledgeable, Professional and results oriented!!
Hugh Bruder
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, Floridaread more
Madison Cantrell
Madison Cantrell
00:53 30 May 18
They were a pleasure to work with and they helped us get through the financing of our first home in Florida. Highly recommended!
M C
M C
21:59 15 Jan 17
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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.

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