Conventional Loan
Competitive rates, higher loan limits, and no PMI options—ideal for those with strong credit and looking for long-term stability.
Descriptions
Conventional loans often require a higher down payment compared to FHA loans, usually around 5% to 20% of the purchase price. The credit requirements for conventional loans are typically stricter, with lenders looking for a credit score of at least 620 or higher.
However, borrowers with excellent credit may be able to secure a lower interest rate and better terms on a conventional loan. Conventional loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums.
- Conventional loans are not backed by the government and are subject to the lender's guidelines and underwriting standards.
- Typically require a higher down payment of 5% to 20% of the purchase price
- Credit requirements are typically stricter than FHA loans, with lenders typically looking for a credit score of at least 620
- Borrowers with excellent credit may be able to secure lower interest rates and better terms on a conventional loan compared to an FHA loan..
Other Service
- FHA Loans
- VA Loans
- Self-employed Loans
- Specialty Programs
- Reverse Mortgages
- Second Mortgages
Possibility starts here. Get approved for your mortgage
Get approved for your mortgage today and take the first step toward homeownership with ease.
Get approved for your mortgage today and take the first step toward homeownership with ease.
