Conventional Mortgages

The most popular choice for homebuyers with good credit and stable income. Enjoy competitive rates, flexible terms, and lower costs over the life of your loan.

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Why Choose a Conventional Loan?

Conventional mortgages offer flexibility and competitive rates for qualified borrowers.

Competitive Rates

Typically lower interest rates compared to government-backed loans for borrowers with strong credit.

No PMI with 20% Down

Avoid private mortgage insurance entirely when you put 20% or more down on your home.

Flexible Terms

Choose from 10, 15, 20, or 30-year loan terms to match your financial goals.

Multiple Property Types

Finance primary residences, second homes, or investment properties with conventional loans.

Low Down Payment Options

Put as little as 3% down for first-time homebuyers with qualifying programs.

Cancel PMI Early

Remove mortgage insurance once you reach 20% equity in your home.

Conventional Loan Requirements

While requirements can vary, here are the general guidelines for conventional mortgage approval:

Credit Score 620+ (680+ for best rates)

Down Payment 3% - 20%

Debt-to-Income Ratio Up to 50%

Employment History 2+ years stable

Not Sure If You Qualify?

Our loan experts can review your situation and help you understand your options - no obligation.

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No SSN required. No impact to credit score.

2026 Conforming Loan Limits

Conventional loans have maximum amounts that vary by location.

Standard Limit

$766,550

For most areas in the US

High-Cost Areas

$1,149,825

For designated high-cost markets

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Jumbo Loans

Explore jumbo loan options

Frequently Asked Questions

Conforming loans meet the guidelines set by Fannie Mae and Freddie Mac, including loan limits and underwriting standards. Non-conforming loans (like jumbo loans) exceed these limits or have different requirements.

Yes! Conventional loans allow down payments as low as 3% for qualified borrowers. You'll need to pay private mortgage insurance (PMI) until you reach 20% equity, but this can be removed once you hit that threshold.

PMI is automatically removed when you reach 22% equity based on the original loan balance. You can also request removal at 20% equity with a good payment history. Some borrowers order a new appraisal to show increased home value.

It depends on your situation. Conventional loans typically have lower overall costs if you have good credit (680+) and can put at least 5% down. FHA loans may be better for lower credit scores or smaller down payments. We can help you compare both options.