The most flexible path for qualified buyers.
Conventional loans offer competitive rates, low down payment options, and flexibility for primary homes, second homes, and investment properties.
Get Pre-ApprovedConventional loan highlights
- As low as 3% down for qualified first-time buyers
- Fixed-rate terms of 15, 20, or 30 years
- Available for primary, second home, and investment properties
- PMI removable at 20% equity
- Loan amounts up to conforming limits (jumbo above that)
Conventional vs. government loans
- vs. FHA: Conventional may offer lower costs long-term if you have good credit and 5%+ down. FHA is often better for lower credit scores or 3.5% down.
- vs. VA: Conventional is for non-veterans or when VA is not the best fit. No VA funding fee.
- vs. USDA: Conventional has no geographic or income limits, but typically requires a down payment.
Conventional loan FAQ
What is a conventional loan?
A conventional loan is a mortgage that is not insured or guaranteed by the federal government (unlike FHA, VA, or USDA). Most conventional loans follow Fannie Mae and Freddie Mac guidelines and are the most common type of mortgage in the U.S.
How much down payment do I need?
Conventional loans are available with as little as 3% down for qualified first-time buyers, and 5% down for repeat buyers on primary residences. Putting down 20% or more avoids private mortgage insurance (PMI).
What credit score do I need?
Most conventional programs require a minimum credit score of 620, though better rates are available at 740+. I will match you with the best conventional option for your credit profile.
What is PMI and when does it go away?
Private mortgage insurance (PMI) is required when you put less than 20% down. It can be removed once you reach 20% equity through payments or appreciation, or you can refinance to eliminate it.
Can I use a conventional loan on an investment property?
Yes. Conventional loans are available for primary residences, second homes, and investment properties. Down payment and reserve requirements are typically higher for non-primary residences.
Strong credit and steady income?
A conventional loan may be your best rate — let's find out.