Loan program

Conventional Loans

Flexible terms for strong credit profiles

Conventional loans are the most common mortgage in America. With down payments from 3% and no upfront mortgage insurance fee, they often win for buyers with good credit, and mortgage insurance drops off once you reach 20% equity.

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Who it suits

Who this is for

01Buyers with good to excellent credit (typically 620+)

02Buyers putting 3% to 20%+ down

03Anyone buying a primary home, second home, or investment property

The upside

Why buyers choose Conventional Loans

Down payments from 3%

Qualified first-time buyers can put as little as 3% down on a conventional loan.

PMI is removable

Private mortgage insurance automatically ends once you reach 22% equity, unlike FHA insurance which usually lasts the life of the loan.

No upfront insurance fee

FHA charges a 1.75% upfront mortgage insurance premium. Conventional loans skip it entirely.

More property flexibility

Use a conventional loan for primary homes, vacation homes, condos, and investment properties.

Requirements

How to qualify

Typical guidelines. Your exact numbers come from the free 60-second check.

01Credit score typically 620+ (best pricing at 740+)

02Down payment of 3% or more

03Debt-to-income ratio generally under 45 to 50%

04Documented income and assets

Questions

Common questions

It depends on your credit score and down payment. Above roughly 680 with 5%+ down, conventional often wins. Below that, FHA may cost less. Our free check compares both for your exact situation.

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See what you qualify for

Nine quick questions. Zero impact on your credit score. Real answers in about 60 seconds.

Check if I qualify

Conventional loans are subject to conforming loan limits set by the Federal Housing Finance Agency and underwriting guidelines of Fannie Mae, Freddie Mac, or the funding lender.