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Is a conventional loan right for you?

A Conventional loan is the most common path to homeownership, offering flexibility for those with solid credit and stable income. Unlike government-backed options, these loans follow guidelines set by Fannie Mae and Freddie Mac. They are ideal if you have a variety of down payment amounts available and want to avoid long-term mortgage insurance. Whether you are buying a primary residence, a vacation home, or an investment property, a Conventional loan provides a reliable, standard framework to help you plant roots with confidence.

Benefits of a Conventional Loan

Enjoy the flexibility and long-term savings that come with the industry’s most popular financing option.

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    Save Money

    With a down payment of 20% or more, you won’t need to pay for monthly private mortgage insurance.

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    Property Variety

    Use this loan for almost any property type, including second homes, rentals, or even multi-unit primary residences.

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    Flexible Terms

    Choose from various repayment timelines, such as 15-year or 30-year fixed rates, to fit your monthly budget.

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    Higher Limits

    Conventional loans often allow for higher borrowing amounts than standard FHA loans in many competitive local markets.

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Conventional Loan Eligibility Requirements

Meeting these core financial benchmarks ensures you qualify for the most competitive conventional rates available today.

A solid credit score of 620 or higher
A down payment starting as low as 3%
Consistent and fully documented employment and income history
A manageable debt-to-income ratio, typically below 43-50%
A professional home appraisal to confirm the property’s value
Loan amounts that fall within current conforming price limits