Conventional Loans in West Palm Beach, FL

Conventional home loans offer competitive rates and flexible terms for qualified buyers in Palm Beach County. These mortgages are ideal for those purchasing a primary home, second home, or investment property in West Palm Beach and beyond—whether you’re buying a condo downtown or a single-family home in Palm Beach Gardens, a conventional loan could be your best fit.

Is a Conventional Loan Right for You?

A conventional loan is a non-government-backed mortgage that follows Fannie Mae and Freddie Mac guidelines. Many buyers choose this option for its flexibility and long-term savings. If you have a solid credit profile, you can benefit from lower rates, customizable terms, and the ability to buy with as little as 3% down. Loan limits in Palm Beach County for 2025 are $806,500 for a single-family home, making conventional loans accessible for most properties in the area.

Why Choose a Conventional Loan in West Palm Beach?

Low Down Payment

Buy your Palm Beach County home with as little as 3% down if you qualify.

Flexible Terms

Choose from 15-year or 30-year fixed mortgage options, plus adjustable-rate programs.

Cancellable PMI

Private mortgage insurance can be removed once you reach 20% equity—no more paying for insurance you don’t need.

No Upfront MIP

Unlike FHA loans, conventional loans have no upfront mortgage insurance premium.

Local Loan Limits

The conforming loan limit in Palm Beach County is $806,500 for 2025; higher amounts may require a jumbo loan.

ide Property Eligibility

Use a conventional loan for primary residences, second homes, condos, and investment properties (if property meets lending guidelines).

Palm tree and lifeguard tower on a sunny beach, blue sky and ocean in the background.

Conventional Loan Myths and Pitfalls

  • Thinking you need a 20% down payment to qualify—most first-time buyers only need 3%.

  • Overlooking PMI removal at 20% equity, which saves you money over time.

  • Not comparing options like FHA vs. conventional—get a full side-by-side review from your loan officer.

  • Missing local loan limits—borrowing above $806,500 means a different program.

  • Assuming condos aren’t eligible—many West Palm Beach condos do qualify if they meet requirements.

How to Decide If Conventional Is Best for You

Unsure if you’ll qualify for 3% down? Our team will review your scenario and show all possible options.

Not sure about the difference between FHA, VA, and conventional? We’ll create a simple comparison, personalized to your budget.

Wondering about condo approval? We’ll verify if your property is eligible under current Fannie Mae/Freddie Mac rules.

Need clarity on closing costs and monthly payments? Use our calculators or ask for a custom estimate.

Ready to Explore Conventional Loans?

You don’t have to guess which loan is right for your home purchase in West Palm Beach. Let our team show you a clear, side-by-side breakdown—so you can move forward with confidence.

What to Expect With a Conventional Loan From CTC

Our process begins with a quick pre-approval—often completed in just one business day. You’ll receive step-by-step guidance on documentation, appraisal, and closing, with clear updates at every stage. Most clients close in about 30 days, thanks to our local processing and commitment to speed. After closing, we’re here for questions, future refinances, or advice on removing PMI.

Two overlapping speech bubbles, one with a question mark.

Conventional Loan FAQ – West Palm Beach

Frequently Asked Questions

  • What credit score do I need for a conventional loan?

    Most conventional lenders require a minimum credit score of around 620, but higher scores qualify for better rates.

  • How is a conventional loan different from FHA?

    Conventional loans have no upfront mortgage insurance premium and allow PMI removal at 20% equity, while FHA requires upfront MIP and monthly insurance throughout the loan.

  • Can I use a conventional loan for a condo in West Palm Beach?

    Yes, if the condo meets Fannie Mae or Freddie Mac eligibility requirements—ask our team for a list of approved properties.

  • How long does it take to close a conventional loan?

    CTC’s average closing time is about 30 days, often faster than larger lenders.

  • What’s the minimum down payment for a conventional loan?

    Just 3% down for first-time buyers, or 5% for most others. Some programs may require more for investment properties.

Start Your Conventional Loan Pre-Approval in West Palm Beach

Don’t let down payment myths or misinformation hold you back from buying in Palm Beach County. Contact our local team for fast answers and a personalized pre-approval—so you can secure your new home with clarity and confidence.