Conventional Loan in Lauderdale, FL

If you’re a homebuyer or homeowner in Lauderdale, Florida, and you’re looking for a mortgage option with competitive rates, flexible terms, and fewer restrictions, a conventional loan could be your best move. At Solutions Mortgage Lending Group, we specialize in helping buyers and homeowners across Broward County secure conventional mortgage financing that aligns with their financial goals.

Whether you’re purchasing your first home, upgrading to a new one, or refinancing your current mortgage, our team in Lauderdale, FL is here to walk you through every step of the process.

What Is a Conventional Loan?

A conventional loan is a mortgage option that doesn’t come with backing from federal programs such as the FHA, VA, or USDA. These loans are issued by private lenders and generally follow the borrowing rules created by Fannie Mae and Freddie Mac, two government-sponsored organizations that help maintain stability in the mortgage market.

Because they aren’t insured by the government, conventional loans often come with stricter qualifying criteria but offer more flexibility, lower overall costs, and a wide range of term options.

Why Choose a Conventional Loan in Lauderdale, FL?

Lauderdale is a vibrant, diverse community with a mix of urban condos, waterfront homes, and suburban neighborhoods. Whether you’re buying in Fort Lauderdale, Lauderdale Lakes, Lauderdale-by-the-Sea, or nearby communities, a conventional loan gives you the freedom and flexibility to finance the property that best suits your lifestyle.

Key Benefits of Conventional Loans:

  • ✅Competitive interest rates
  • ✅Offers low down payment choices, starting around 3% for eligible applicants.
  • ✅No upfront mortgage insurance premiums
  • ✅Flexible loan terms (10, 15, 20, 25, or 30 years)
  • ✅Suitable for purchasing your main residence, vacation homes, or rental properties
  • ✅Perfect for those who have strong to excellent credit scores.

Whether you’re looking to settle near Las Olas Boulevard, invest in a rental property near the beachfront, or buy a home in the downtown Lauderdale area, a conventional loan from Solutions Mortgage Lending Group can provide the financing you need.

Types of Conventional Loans We Offer

At Solutions Mortgage Lending Group, we help you choose the right conventional mortgage product based on your goals and qualifications. Here are the most common options:

1. Conforming Loans

These loans meet the borrowing limits established by Fannie Mae and Freddie Mac, which can differ from one county to another. For Broward County (Lauderdale), the conforming loan limit for a single-family home is typically around $766,550 (as of 2025). If your loan amount is below this limit, you may qualify for a conforming loan with more favorable terms.

2. Non-Conforming (Jumbo) Loans

If the property you’re buying costs more than the standard loan limit, you’ll need to apply for a jumbo conventional loan. These loans are ideal for luxury homes or properties in sought-after Lauderdale neighborhoods but may require higher credit scores and larger down payments.

3. Fixed-Rate Conventional Loans

Secure a steady interest rate so your monthly payments stay the same from start to finish. Fixed-rate mortgages are ideal for homeowners who intend to remain in their home for an extended period.

4. Adjustable-Rate Mortgages (ARMs)

These offer lower initial interest rates for a set period (e.g., 5, 7, or 10 years), then adjust annually. Adjustable-rate mortgages may suit buyers who expect to sell or refinance their home before the interest rate changes.

Who Qualifies for a Conventional Loan?

Conventional loans work well for people who have a steady income, good credit scores, and debts that are under control compared to their earnings. Here’s what you typically need to qualify:

✔️ Credit Score

A minimum score of 620 is usually required, but higher scores (700+) may qualify for better rates and lower down payment options.

✔️ Down Payment

Those buying their first home might be able to put down as little as 3%, while others could require between 5% and 20%, depending on their credit and the loan program. Making a down payment of 20% or more usually means you won’t have to pay for private mortgage insurance (PMI).

✔️ Debt-to-Income (DTI) Ratio

While many lenders aim for a debt-to-income ratio below 45%, some are willing to be flexible depending on your overall financial picture.

✔️ Income & Asset Verification

You’ll need to show proof of stable income and employment, plus documentation of any assets being used for the down payment or reserves.

What About Private Mortgage Insurance (PMI)?

If your down payment is under 20%, you might need to pay for private mortgage insurance, which safeguards the lender if you’re unable to make payments. Once you build up 20% equity in your home, this insurance can usually be canceled.Compared to FHA loans, PMI on conventional loans is often cheaper and can be canceled—making it a cost-effective long-term choice.

Conventional Loan vs FHA Loan – What’s the Difference?

Feature

Conventional Loan

FHA Loan

Backed By

Private lenders

Federal Housing Administration

Credit Score Requirement

620+

580+

Down Payment

3%–20%

3.5%

PMI/Mortgage Insurance

Required if <20% down (can be canceled)

Required for life of the loan (if <10% down)

Property Types

Primary, second, and investment homes

Primary residence only

For many borrowers in Lauderdale, a conventional loan is the better long-term option, especially if you have strong credit and plan to live in your home for several years.

Why Lauderdale Buyers Trust Solutions Mortgage Lending Group

At Solutions Mortgage Lending Group, we’re not just loan officers—we’re your trusted mortgage advisors. We combine deep knowledge of the Lauderdale real estate market with access to top-tier lenders and loan products, ensuring you receive the most competitive rates and terms available.

What We Offer:

  • 🏠Personalized loan consultations for Lauderdale homebuyers
  • 📈Access to both conforming and jumbo conventional loans
  • ⏱Fast pre-approvals to help you compete in today’s market
  • Clear communication and trustworthy guidance from start to finish
  • 🏡Local insights into Lauderdale neighborhoods and home values

From Harbordale to Victoria Park, we’ve helped hundreds of buyers and homeowners make confident mortgage decisions.

The Conventional Loan Process – What to Expect

We make the loan process smooth and stress-free. Here’s how it works:

  1. Pre-Approval: We review your credit, income, and financial documents to give you a realistic budget and letter of pre-approval.
  2. Home Shopping: With pre-approval in hand, you can confidently shop for homes in Lauderdaleand surrounding areas.
  3. Loan Application: Once your offer is accepted, we finalize your application, lock in your rate, and prepare for underwriting.
  4. Underwriting: Our team works closely with lenders to review documents, verify information, and clear conditions.
  1. Closing: This is the point where you finalize the paperwork, cover the closing expenses, and officially take possession of your new home.

Local Market Insight: Buying in Lauderdale, FL

Lauderdale, FL is part of one of the most desirable housing markets in South Florida. With sunny weather, ocean access, and a strong job market, it’s no surprise that the area continues to attract buyers of all kinds.

  • 🌴Popular areas include Lauderdale Lakes, Lauderdale-by-the-Sea, and North Lauderdale
  • 💰Median home prices continue to rise, making now a smart time to buy
  • 🏖️ Access to beaches, marinas, restaurants, and cultural attractions
  • 📈Strong long-term equity growth potential for conventional loan borrowers

Whether you’re buying a condo near the water, a family home in a quiet suburb, or an investment property, we’ll help you secure the right financing to make it happen.

Secure your conventional loan pre-approval in Lauderdale, FL today.

Don’t let uncertainty stop you from owning the home you want. With a conventional loan from Solutions Mortgage Lending Group, you get flexibility, value, and local expertise—all in one place.

📞 Call us today to schedule a free consultation
📍 6750 North Andrews Avenue Suite #200, Fort Lauderdale, FL, United States, Florida

Solutions Mortgage Lending Group – Mortgage Solutions That Work for You.