Get reliable financing with great terms tailored to your goals. Whether you're buying your first home, upgrading, or investing, conventional loans offer the versatility and value you need.
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A conventional loan is a mortgage that is not insured or guaranteed by the federal government. Instead, it is offered by private lenders such as banks, credit unions, and mortgage companies.
Meet the guidelines set by Fannie Mae and Freddie Mac, including specific loan limits, credit score requirements, and debt-to-income ratios. These are the most common type of conventional loan and typically offer the best rates.
Don't meet Fannie Mae or Freddie Mac standards — often because the loan amount exceeds conforming limits. Jumbo loans are the most common type of non-conforming loan, ideal for higher-value properties.
Unlike FHA, VA, or USDA loans, conventional mortgages are backed entirely by private lenders. This often means fewer restrictions on property type, faster processing, and more flexibility for qualified borrowers.
Conventional loans remain the most popular mortgage type for good reason. Here's what makes them stand out.
Borrowers with strong credit profiles can secure some of the lowest interest rates available on the market, saving thousands over the life of the loan.
Put 20% or more down and avoid Private Mortgage Insurance entirely. Even with less down, PMI can be removed once you reach 20% equity — unlike FHA's lifetime MIP.
Finance your primary residence, a vacation home, or an investment property. Conventional loans offer the widest range of eligible property types of any mortgage program.
Meeting these general guidelines puts you in a strong position for approval. Our team can help determine your exact eligibility.
A minimum credit score of 620 is typically required. Higher scores unlock better interest rates and more favorable terms. Scores above 740 qualify for the best pricing.
First-time buyers may qualify for down payments as low as 3%. Standard conventional loans require 5% down, while 20% eliminates private mortgage insurance.
Your total monthly debts (including the new mortgage) typically should not exceed 45% of your gross monthly income. Some exceptions may apply with strong compensating factors.
The 2024 conforming loan limit for most areas is $766,550 for a single-family home. Higher limits apply in designated high-cost areas. Amounts above this require a jumbo loan.
Select the loan structure that best fits your financial strategy and homeownership goals.
The most popular mortgage option in America. Lock in a consistent interest rate and predictable monthly payment for the full 30-year term. Ideal for buyers who plan to stay in their home long-term and want budget stability.
Build equity twice as fast and pay significantly less interest over the life of your loan. A 15-year fixed rate is perfect for borrowers who can handle a higher monthly payment and want to be mortgage-free sooner.
Enjoy a lower fixed rate for the first 5 years, then the rate adjusts annually based on market conditions. A smart choice if you plan to sell or refinance within the initial fixed period.
From application to closing, we make the conventional loan process straightforward and stress-free.
Share your financial details with us and get a clear picture of what you can afford. This takes just minutes and has no impact on your credit.
Complete your full loan application with our guidance. We'll collect income verification, assets, and employment documentation to move forward.
Our team reviews your file, orders the appraisal, and verifies all documentation. We keep you informed every step of the way through underwriting.
Sign your final documents and receive the keys to your new home. We coordinate with all parties to ensure a smooth, on-time closing.
Get answers to the most common questions about conventional home loans.
Tell us about your goals and one of our conventional loan experts will reach out within 24 hours.
Get pre-approved in as little as 24 hours so you can shop for homes with confidence and make competitive offers.
Work one-on-one with a licensed loan officer who understands your unique financial situation and goals.
We shop multiple lenders to find you the most competitive conventional loan rates and terms available.
No hidden fees or surprises. We walk you through every cost, document, and milestone from start to finish.
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