Mortgage Approval Group
Conventional Loans in Tampa & Throughout Florida
Conventional mortgages remain one of the most popular financing options for homebuyers and homeowners. Mortgage Approval Group helps borrowers throughout Tampa Bay and Florida compare conventional mortgage options from multiple wholesale lenders.
What Is a Conventional Loan?
A conventional loan is a mortgage that is not insured or guaranteed by a federal government agency such as the FHA, VA or USDA. Most conventional loans are originated to meet the guidelines established by Fannie Mae or Freddie Mac, the government-sponsored enterprises that purchase mortgages from lenders.
Conventional loans are available for a wide range of property types and borrower situations, including primary residences, second homes and investment properties. They come in both fixed-rate and adjustable-rate structures, and eligible borrowers may have access to low down-payment options depending on the program and lender requirements.
Conforming conventional loans must fall within loan limits set annually by the Federal Housing Finance Agency (FHFA). Loan amounts above those limits are generally considered jumbo loans and may have different qualification requirements.
Private mortgage insurance (PMI) may be required when the down payment is less than 20% of the purchase price. PMI can typically be removed once the borrower reaches a sufficient level of equity in the home, subject to lender and program requirements.
Who May Benefit from a Conventional Loan?
Key Features & Benefits
General Qualification Considerations
Conventional loan qualification generally considers factors including credit score, debt-to-income ratio, employment history, income documentation and assets. Specific requirements vary by lender and program.
Credit score requirements for conventional loans are generally higher than FHA loan requirements, though eligible borrowers with strong credit profiles may access more favorable pricing. Down payment requirements vary by program — some conventional programs allow down payments as low as 3% for eligible borrowers, though a larger down payment may reduce or eliminate mortgage insurance requirements.
Debt-to-income ratio limits, reserve requirements and documentation standards vary by lender and program. All loans are subject to credit approval and lender underwriting guidelines.
Conventional Loans in Tampa & Florida
Tampa Bay's real estate market includes a wide range of property types and price points, from starter homes to luxury properties. Conventional financing is commonly used for purchases throughout the Tampa Bay area, including Tampa, St. Petersburg, Clearwater, Sarasota and surrounding communities.
Mortgage Approval Group is headquartered in Tampa and works with wholesale lenders to help borrowers throughout Florida compare conventional mortgage options. Whether you're buying in the Tampa Bay area or elsewhere in Florida, our mortgage professionals can help you evaluate available programs.
Why Work With Mortgage Approval Group?
Mortgage Approval Group is an independent mortgage broker headquartered in Tampa, Florida, serving homebuyers, homeowners and real estate investors throughout the state. As a broker, we work with a network of wholesale lenders — which means we can compare loan programs and pricing across multiple sources rather than being limited to a single lender's offerings.
Our mortgage professionals take time to understand your goals, review your financial situation and help identify financing options that may fit your circumstances. Whether you're purchasing your first home, refinancing an existing mortgage or exploring a specialized loan program, we're here to guide you through the process.
Mortgage Approval Group, LLC is located at 2918 Busch Lake Blvd, Suite A, Tampa, FL 33614. We serve borrowers throughout Florida.
Frequently Asked Questions
Related Loan Programs
Ready to Explore Your Options?
Contact Mortgage Approval Group to discuss your goals and learn about the mortgage programs that may be available for your situation.