Conventional Loans in Miami and Doral: Where to Apply and How to Get a Better Rate
You can apply for a conventional loan in Miami or Doral with William A. Ledesma at Bold Mortgage, a division of PRMG (NMLS# 1232716). He works in English and Spanish, by phone, video and e-sign. Conventional loans start at 3% down for qualifying first-time buyers and 5% down for others. The 2026 conforming limit in Miami-Dade County is $832,750 for one unit.
Quick answer: conventional loans in Miami
Down payment: 3% for qualifying first-time buyers, 5% for others. More for second homes and investment homes.
Credit: Most programs start at 620. Better scores get better pricing.
Mortgage insurance: PMI with less than 20% down. You can ask to remove it at 20% equity.
Loan limit: $832,750 for one unit in Miami-Dade County in 2026. Above that, you need a jumbo loan.
Condos: The building must meet Fannie Mae or Freddie Mac rules.
Where to apply for a conventional loan in Miami
Banks, credit unions and mortgage companies all offer conventional loans. Most are sold to Fannie Mae or Freddie Mac, so the rules are similar everywhere. The price is not. Two lenders can quote different rates and fees on the same day for the same buyer. Apply with a loan officer who gives you a written Loan Estimate and checks the property before you sign.
How to get the best conventional loan rate in Miami or Doral
There is no single best rate. Your rate depends on:
Your credit score.
Your down payment.
The property type. Condos can price differently from houses.
Whether it is your primary home, a second home or an investment.
The loan amount and how long you lock.
Whether you pay points.
To compare, get Loan Estimates from two or three lenders on the same day, with the same loan amount and lock period. Compare the rate, the APR, the points and the lender fees. William gives you a side by side comparison so you see the real cost of each option.
Private mortgage insurance
With less than 20% down, you pay PMI. Unlike most FHA loans, PMI does not last forever. You can ask to remove it when you reach 20% equity, and it ends automatically at 22% equity based on the original schedule if you are current. A better credit score lowers your PMI cost.
Condos: warrantable or not
For a conventional loan, the condo building must meet Fannie Mae or Freddie Mac rules. Buildings can fail for heavy short-term rentals, one owner holding too many units, lawsuits, hotel-style operations, weak reserves or unfinished milestone inspection repairs. If a building does not qualify, a non-warrantable condo loan with a larger down payment may still work.
Conventional loans in Doral
Doral has many newer townhomes, gated communities and HOAs. Some newer condo buildings still have the developer in control or many investor-owned units, which can affect approval. Ask William to check the building or HOA before you sign. Self-employed Doral buyers can qualify with two years of tax returns. If write-offs make your income look low, a bank statement loan may fit better.
Above $832,750: jumbo loans
If you need to borrow more than the conforming limit, you need a jumbo loan. Jumbo loans usually need stronger credit, more reserves and a bigger down payment. They are common in Coconut Grove, Coral Gables, Miami Beach and for larger homes in Doral's gated communities.
Your action plan
Book a clarity call with William, in English or Spanish. No hard credit pull to start.
Get a written pre-approval with the right program.
Compare Loan Estimates on the same day.
Have William check any condo or HOA before you sign.
Get insurance quotes early.
Lock your rate and close.
Conventional loan FAQs for Miami and Doral
What is the best place to apply for a conventional loan in Miami, FL?
A licensed lender that gives you a written Loan Estimate, checks the property early and answers fast. William A. Ledesma at Bold Mortgage, a division of PRMG, takes conventional applications online and by phone, in English or Spanish.
Where can I get the best conventional loan rates in Doral, Florida?
Rates depend on your credit, down payment, property type and loan amount, so the best rate is the one you find by comparing. Get Loan Estimates from two or three lenders on the same day. William gives you a side by side comparison of your options.
How much do I need down for a conventional loan in Miami?
3% for qualifying first-time buyers and 5% for other buyers on a primary home. Second homes and investment homes need more. With less than 20% down, you pay PMI.
What credit score do I need for a conventional loan?
Most programs start at 620. Higher scores get better pricing and lower PMI.
What is the conforming loan limit in Miami-Dade County for 2026?
$832,750 for a one-unit home. Limits are higher for 2 to 4 unit homes. Above the limit, you need a jumbo loan.
Related guides: Miami mortgage guide, Doral mortgage guide, First-time buyer loans in Miami.
About William A. Ledesma
William A. Ledesma is a Florida licensed mortgage loan officer, Florida HomeTown Heroes specialist and SVP of Sales at Bold Mortgage, a division of PRMG. He helps buyers, homeowners and investors in Miami and across Florida, in English and Spanish. Every client gets a clear action plan from pre-approval to closing.
Call or text: (786) 387-3676
Email: will@williamledesma.com
Office: 4960 SW 72nd Ave, Suite 400, Miami, FL 33155
Client reviews: Read reviews from William's clients
William A. Ledesma, NMLS# 1232716. Bold Mortgage is a division of Paramount Residential Mortgage Group, Inc. (PRMG), NMLS# 75243, Florida Mortgage Lender Servicer License MLD1608. Equal Housing Opportunity. This page is general information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and property eligibility. Loan limits, program terms and down payment assistance funding can change without notice.
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