A Conventional Loan is not backed or insured by the government but rather private companies like First Florida Mortgage. Conventional mortgages are often the best choice for borrowers who have excellent credit and a down payment of around 20 percent. Conventional loans can be used to buy a primary home, second home or investment property and can even sometimes allow the borrower extra money for landscaping or home improvements.

Some benefits of Conventional Loans are that tend to have better lender terms and fewer restrictions since it isn’t backed by a government loan program. Conventional Loans typically require borrowers to put at least a 20 percent down payment. By putting such a large down payment, borrowers avoid the private mortgage insurance (PMI) fee and usually start earning equity faster.

Contact Morris Team Mortgages, NMLS #1090842 if you think a Conventional Loan is for you!

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The Fair Housing Act prohibits discrimination in housing on the basis of: race, color, national origin, religion, sex, familial status or handicap (disability). 

First Florida Mortgage
NMLS # 392021
13400 Sutton Park Dr S Suite 1502
Jacksonville, FL 32224
(904) 826-5009

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First Florida Financial, Inc.

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