Flexible financing for buyers and homeowners across Volusia, Seminole County, and all of Florida.
A conventional loan is often the most straightforward and affordable path to homeownership, with low down payment and financing options. At Hyve Financial, we walk you through every step, so you understand your options and feel confident in your decision.
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA. Instead, it follows guidelines set by Fannie Mae and Freddie Mac, the two organizations that help keep the mortgage market running. Because these loans are not government-backed, lenders look closely at your credit, income, and down payment to determine your terms.
There are two main types of conventional loans. A conforming loan stays within the loan limits set each year by the Federal Housing Finance Agency. A non-conforming loan, often called a jumbo loan, is used when you need to borrow more than those limits allow.
Down payments can start as low as 3% for qualified first-time buyers.
Once you reach 20% equity, you can typically request to remove private mortgage insurance, which lowers your monthly payment.
Use a conventional loan for a primary home, a second home, or an investment property.
With strong credit, conventional loans often offer some of the most competitive pricing available.
Every situation is different, but lenders generally look for a credit score in the low-to-mid 600s or higher, a stable two-year income history, and a manageable debt-to-income ratio. Don’t worry if you are unsure where you stand. That is exactly what we are here to review with you, at no cost and with no pressure.
Tell us what you are looking for and share some basic financial details.
We help you get pre-approved so you know your budget and can shop with confidence.
Once you are under contract, we submit your file and guide it through underwriting.
We coordinate the appraisal, title, and closing so you can move into your new home.
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