Conventional Fixed Rate Mortgage
A conventional fixed rate mortgage can be assured with loan terms up to 30 years. A minimum of 3% down payment is required for first time home buyers seeking to purchase a primary residence. If you have had ownership interest in a property in the past 3 years the minimum borrower contribution on a primary residence is 5%. Borrowers can finance up to $417,000 for one unit property. Loan maximums are higher for 2-4 family properties and properties located in Monroe and Collier Counties.