Conventional Loans

Conventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. A 620 + credit score is required for any conventional loan with a maximum loan amount of $453,100.00. It may have either a fixed or adjustable rate.While many think that a 20% down payment is required for all conventional loans, many lenders now offer low as 3% down payment options with certain guidelines. Please note that mortgage insurance is required on every conventional loan where there is less than 20% equity. When 20% equity is established the MI is removed from the monthly payment. The higher the credit score the lower the interest rate and in many instances a lower mortgage insurance premium. I offer credit enhancement services to any client that needs it. This is not a credit repair service offer. This service is free of charge and it allows the buyer to see what is needed on their behalf to get to their goal.

Although my main office is located in Miami, I can service the entire state of Florida, including Miami, Broward & Palm Beach County. I mainly work from my personal office in Boca Raton. Please contact me at (561)-808-5535 or mgorlano@bestbeach.net if you have any questions about any of the other programs I can offer.