Chris Luis, My Favorite Mortgage Broker 
"I work for you, not the banks." 
NMLS 888571

CLuisMortgages. LLC             
MBR 1575, NMLS 1159714                                       
t: 941-219-4381
f: 800.718.1862
HomeInfoLoan ProgramsApply NowAbout Reviews

click to email 


Conventional mortgages are the traditional loans offered to borrowers with the best credit scores. 

Most homebuyers, even some realtors believe that 20% down payment is required. 

You can get a conventional mortgage for 1% - 3% or 5% depending on your credit and whether you are a first time home buyer. 

Here are the highlights: 

  • Minimum credit score is 620

  • 5% Down Payment for 2nd time buyers 

  • 1st Time Home buyer – 3% down payment 

  • The higher your credit score, the lower your rate. 

  • Sellers can up to 3% toward closing costs. 

  • Virtually any home is eligible, except for manufactured-mobile homes. 

  • Rates slightly higher than FHA or VA. 

  • PMI (Mortgage Insurance) required if you are placing less than 20% down, but you can have it waived by paying a higher interest rate.  

Contact Us