Flexible, Reliable, and Rewarding
Conventional Loans
Perfect for buyers with strong credit, Conventional Loans offer a range of options with no mortgage insurance on qualifying down payments. Choose from flexible terms and competitive rates tailored to your goals.
Get in Touch with Our Team for Expert Mortgage Advice
Have questions about mortgage options or need personalized guidance? We’re here to help! Fill out the form below, and one of our experts will get back to you as soon as possible with the answers you need.
Expert Mortgage Guidance
Conventional Loans FAQs
We understand that choosing the right loan can be a big decision. Below are some frequently asked questions to help guide you through the process and find the best solution for your needs.
What is a conventional loan?
A conventional loan is a mortgage that is not insured or guaranteed by the government, making it suitable for buyers with strong credit and financial stability.
What is the minimum down payment for a conventional loan?
The minimum down payment for a conventional loan is typically 3% for first-time homebuyers and 5% for repeat buyers.
Do I need private mortgage insurance (PMI) with a conventional loan?
If your down payment is less than 20%, you will need PMI, but it can be removed once you reach 20% equity in the home.
What are the credit score requirements for a conventional loan?
Conventional loans generally require a minimum credit score of 620, but a higher score may be needed for better terms and interest rates.
Can I use a conventional loan for investment properties?
Yes, conventional loans can be used for investment properties, although the down payment and interest rates may be higher compared to primary residences.
