Yes. Many conventional loan programs allow down payments as low as 3%, depending on your credit profile, income, and property type.

One of the biggest myths in home buying is that you must put 20% down. While 20% down allows you to avoid private mortgage insurance (PMI), it is not required to qualify.

If your down payment is less than 20%, PMI is typically required—but unlike FHA mortgage insurance, PMI on a conventional loan can be removed once you reach sufficient equity.

There is no single “best” loan for everyone. The right mortgage depends on your goals, finances, and long-term plans.

A conventional loan may be ideal if you have:

⦿ Good to excellent credit

⦿ Stable income and employment history

⦿ Moderate savings for a down payment

⦿ A desire for lower long-term costs

However, other loan options may be better in certain situations:

⦿ VA loans may be ideal for eligible veterans and active-duty service members

⦿ USDA loans may be helpful for eligible rural Florida properties

⦿ FHA loans may offer easier qualification for buyers with lower credit scores or higher debt ratios

Rayce Robinson will review your full financial picture and help you compare options so you can make a confident, informed decision.

Many Florida homeowners refinance from FHA to conventional when:

They want to eliminate mortgage insurance
FHA mortgage insurance often lasts for the life of the loan. Refinancing into a conventional loan with at least 20% equity can remove it entirely.

Their credit score has improved
Higher credit scores may unlock lower conventional rates and better loan terms.

Their home value has increased
Rising Florida home values may allow you to reach the equity threshold needed for a conventional refinance.

Market conditions, rates, and your long-term plans all matter.

Rayce Robinson can analyze your situation and help determine when refinancing makes sense.

Yes — Florida buyers often have multiple options to reduce or cover closing costs:

Seller concessions
Your real estate agent may negotiate for the seller to pay part or all of your closing costs, depending on market conditions.

Lender credits
You may choose a slightly higher interest rate in exchange for lender-paid credits that offset closing costs.

Gift funds
Many conventional programs allow gift funds from family members or other approved sources.

Florida down payment assistance programs
Availability varies by county and program guidelines. Rayce can help identify any assistance programs that may apply to your situation.

Owing taxes does not automatically disqualify you from a conventional mortgage.

However:

Active tax liens may prevent approval

Borrowers on an IRS repayment plan who have made consistent, on-time payments may still qualify

Each situation is unique. Rayce Robinson will review your circumstances and help you understand the best path forward.