Conventional Loans
Conventional Loans in Florida and Texas
Not every homebuyer needs a VA loan. TrueVet Mortgage offers competitive conventional loan options for veterans, military families, and civilians. Scott Carlin, NMLS# 2613509. Call 321-364-4461.
What Is a Conventional Loan?
A conventional loan is a mortgage that is not backed by a government agency like the VA, FHA, or USDA. Instead, conventional loans are backed by private lenders and follow guidelines set by Fannie Mae and Freddie Mac. They are the most common type of mortgage in the United States.
Conventional loans are a strong option for homebuyers with good credit, stable income, and some money saved for a down payment. While TrueVet Mortgage specializes in VA loans for veterans and military families, we also offer conventional loans for buyers who may not be VA-eligible, who are purchasing a second home or investment property, or who simply prefer a conventional financing path.
Scott Carlin is a 20-year Air Force veteran, mortgage loan originator (NMLS# 2613509), and founder of TrueVet Mortgage. Whether you need a VA loan or a conventional loan, Scott provides the same hands-on, veteran-level service throughout the entire process.
Why Choose a Conventional Loan?
Conventional loans offer flexibility that government-backed loans do not. Key benefits include:
Down payments as low as 3% for first-time homebuyers and 5% for repeat buyers. If you put down 20% or more, you can avoid mortgage insurance entirely.
Flexible property types. Conventional loans can be used for primary residences, second homes, vacation properties, and investment properties — unlike VA loans, which are limited to primary residences only.
Competitive interest rates. Borrowers with strong credit scores (700+) often qualify for lower rates on conventional loans than on other loan types.
Fixed and adjustable rate options. Choose a 15-year, 20-year, or 30-year fixed rate, or an adjustable rate mortgage (ARM) for lower initial payments.
Higher loan limits. In 2026, the conforming loan limit is $832,750 for most areas, with higher limits in designated high-cost counties.
No funding fee. Unlike VA loans, conventional loans do not require an upfront funding fee.
Conventional loans work well for homebuyers in Florida and Texas who have established credit and savings, and are ideal for military families purchasing a second property or rental investment.
How to Qualify for a Conventional Loan
Qualifying for a conventional loan is straightforward if you meet the following guidelines:
Credit score of 620 or higher is typically required. Borrowers with scores above 740 receive the best rates and terms.
Debt-to-income ratio (DTI) of 45% or lower. Lenders want to see that your monthly debts, including your new mortgage payment, do not exceed 45% of your gross monthly income.
Down payment of at least 3% to 5%. If your down payment is less than 20%, you will be required to pay mortgage insurance until you reach 20% equity in the home.
Stable income and employment history. Lenders typically require two years of consistent income documentation, including W-2s, tax returns, and pay stubs.
Property appraisal. The home must appraise at or above the purchase price to confirm it meets the lender’s collateral requirements.
Scott Carlin can help you determine whether a conventional loan is the right fit for your situation. Call 321-364-4461 or visit our Schedule a Call page to get started.
Conventional Loan vs. VA Loan — Which Is Right for You?
If you are a veteran or active-duty service member, you may be wondering whether a VA loan or a conventional loan is the better choice. Here is a quick comparison:
VA loans require zero down payment. Conventional loans require at least 3% to 5% down.
VA loans have no monthly mortgage insurance. Conventional loans require mortgage insurance if your down payment is less than 20%.
VA loans are limited to primary residences. Conventional loans can be used for primary residences, second homes, and investment properties.
VA loans have a one-time funding fee (which can be financed). Conventional loans have no funding fee but may have higher closing costs.
VA loans offer more flexible credit requirements. Conventional loans typically require a 620+ credit score with better terms at 740+.
For most eligible veterans and service members buying a primary residence, a VA loan is usually the better deal because of zero down payment and no monthly mortgage insurance. However, if you are buying an investment property, a second home, or if you want to preserve your VA entitlement for a future purchase, a conventional loan may be the smarter move.
Not sure which option fits your situation? Scott Carlin can walk you through both and help you choose the right path. Visit our VA Loan page to learn more about VA loan benefits, or call 321-364-4461.
Frequently Asked Questions About Conventional Loans
What credit score do I need for a conventional loan?
Most lenders require a minimum credit score of 620 for a conventional loan. However, borrowers with scores of 740 or higher will qualify for the best interest rates and terms.
How much do I need for a down payment on a conventional loan?
Down payments start as low as 3% for first-time homebuyers and 5% for repeat buyers. Putting down 20% or more eliminates the requirement for mortgage insurance.
Can I use a conventional loan to buy an investment property?
Yes. Unlike VA loans, conventional loans can be used to purchase investment properties and second homes. Down payment requirements are typically higher for investment properties, usually 15% to 25%.
What is the maximum loan amount for a conventional loan in 2026?
The 2026 conforming loan limit is $832,750 for most counties. Some high-cost areas have higher limits. Loans exceeding these limits are considered jumbo loans and have different requirements.
Can a veteran get a conventional loan instead of a VA loan?
Yes. Veterans are not required to use their VA loan benefit. Some veterans choose conventional loans when buying investment properties, preserving their VA entitlement, or when a conventional loan offers better terms for their specific situation.
How long does it take to close a conventional loan?
Most conventional loans close in 21 to 30 days, similar to VA loans. Scott Carlin works closely with you to keep the process on track and avoid delays.
Ready to Explore Your Conventional Loan Options? Call Scott Carlin at 321-364-4461 or visit our Schedule a Call page. Whether you need a conventional loan, a VA loan, or help deciding between the two, TrueVet Mortgage is here to guide you through every step. Check out our FAQ here.
Start Your Journey with TrueVet Mortgage
Ready to take the next step in securing your dream home? At TrueVet Mortgage, we’re here to simplify the mortgage process and provide you with the expert guidance you need. Whether you’re a first-time homebuyer or looking to refinance, we offer.
