Flexible, Competitive, and Built for Strong Borrowers
Conventional mortgages are the most widely used home loan in America — not backed by a government agency, but conforming to Fannie Mae and Freddie Mac guidelines. With as little as 3% down, no upfront mortgage insurance, and the ability to remove PMI once you reach 20% equity, conventional loans offer flexibility and long-term savings for qualified borrowers.
No application. No credit pull. Just answers. · NMLS #2386002
Minimum Down Payment
3%
Minimum Credit Score
620+
Max Debt-to-Income
45–50%
PMI Required
Under 20% Down
Loan Limit (2026)
$832,750
Property Types
SFR, Condo, 2-4 Unit, Manufactured (post-1976)
Loan Terms
10, 15, 20, 25, 30 Yr Fixed; ARM
States Licensed
FL, GA, TN, TX, CO
Text us your scenario — no application, no credit pull, no pressure. Our team will walk you through your options and help you understand the next steps and transaction-specific requirements.
Conventional loans are not government-backed and follow Fannie Mae/Freddie Mac guidelines. They require higher credit scores (620+) but offer more flexibility on property types, loan amounts, and mortgage insurance removal. FHA loans are government-insured, require only a 580 credit score, but have mandatory MIP for the life of the loan in most cases. Borrowers with strong credit typically save more with a conventional loan long-term.
PMI on a conventional loan can be removed when your loan balance reaches 80% of the original home value (20% equity). You can request removal in writing at that point. PMI is automatically cancelled when the balance reaches 78% of the original value. You can also eliminate PMI faster by making extra principal payments or through appreciation if you refinance.
The 2026 conforming loan limit for a single-family home in most Florida counties is $832,750. Loans above this amount are considered jumbo loans and require different qualification standards. Skyline Mortgage offers both conforming conventional and jumbo loan options.
Yes. Conventional loans are available for investment properties, but typically require 15–25% down and a slightly higher interest rate than primary residence loans. For investors who prefer no income verification, a DSCR loan may be a better fit. Skyline Mortgage can compare both options for your specific scenario.
HomeReady is a Fannie Mae conventional loan program designed for low-to-moderate income borrowers. It allows 3% down, reduced PMI rates, and accepts income from non-borrower household members for qualification. Borrowers must complete an online homebuyer education course. Skyline Mortgage can determine if you qualify for HomeReady.
From your first call to your closing day, and thereafter. Skyline Mortgage is with you every step of the way.
Related Reading
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