Conventional Loans

Based in Florida, Florida First Financial Mortgage specializes in offering the best and most affordable conventional loans to its customers.

1. Conforming Loan

The conventional loan has a strict set of rules and regulations for housing GSEs (Government-Sponsored Enterprises), which may include Freddie Mac and Fannie Mae. There is a particular size limit associated with this type of loan in the US. For example, the conforming loan size limit for a single family home is $424,000

2. Non-Conforming Loan

Also known as a Jumbo Loan this type of loan size is greater than the limit held by GSEs of the conforming loan. It is pretty flexible in terms of loan limit which makes it a primary option to buy luxury homes, condos and co-ops.

3. High Balance Mortgage Loan

A High Balance mortgage loan is a typical conventional loan which has a relatively higher limit. It can be used to purchase properties in high-cost regions (provided that there is a mortgageable property available there). It also offers flexibility to buy properties in high cost regions despite allowing for loans up to $625,000 (or more) for a single family.

Florida First Financial Mortgage specializes in these loans and has helped countless of home buyers get into their dream luxury home.

If you need more information related to conventional loans and its types, please consult with a Florida First Financial Mortgage Loan Officer TODAY.

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